Superior Consultant enters into definitive agreement with ACS
Superior Consultant Holdings Corp. has signed a merger agreement with Affiliated Computer Services Inc. (ACS) to which ACS will acquire all of the outstanding shares of Superior for a cash price of $8.50 per share.
It is expected that the transaction will close in the first quarter of 2005.
Upon completion of the transaction, Superior said its healthcare management and IT consulting and healthcare IT outsourcing services will be combined with ACS' provider healthcare business capabilities to create a healthcare services offering. Together, the companies will form ACS Healthcare Services.
Richard Helppie, Superior's founder and CEO, will become managing director of the new line of business, responsible for all commercial healthcare provider services at ACS. Helppie, along with Superior's senior executive team, including Executive Vice President Charles Bracken and President and COO George Huntzinger, will join ACS upon closing of the merger.