Mastech Holdings Inc. (NYSE MKT: MHH) sold its healthcare staffing businesses to Accountable Healthcare Staffing Inc. The deal took effect Aug. 11 and marks the seventh acquisition for Boca Raton, Fla.-based Accountable Healthcare since its inception in early 2012.
Mastech will get $1.15 million for its healthcare operations. That includes approximately $1.0 million in cash at closing plus the assumption of certain liabilities. Total assets to be sold exclude cash balances on hand, account receivables and other current assets which totaled approximately $1.5 million as of June 30 net of current liabilities, according to Mastech.
“This divestiture will allow Mastech to focus entirely on its core IT staffing business,” said Mastech CEO D. Kevin Horner. “Given Accountable Healthcare’s highly regarded reputation in and commitment to the healthcare staffing market, we are excited about the opportunities that the transaction presents to our dedicated healthcare professionals.”