09:36 AM EDT, 05/03/2024 (MT Newswires) -- Conduent ( CNDT ) shares were advancing in early Friday trading after the company disclosed plans to sell its casualty claims solutions business to privately held MedRisk for $240 million in cash, subject to customary adjustments.

The sale includes Conduent ( CNDT ) workers' compensation and auto casualty bill review solutions and services, according to Conduent ( CNDT ).

Conduent ( CNDT ) employees now working in the casualty claims unit will join MedRisk after the deal closes and Conduent ( CNDT ) will continue to provide mailroom services for MedRisk and other casualty claims clients, Conduent ( CNDT ) said.

The company said the transaction is expected to close in Q3, subject to regulatory approvals and other closing conditions.

Conduent ( CNDT ) shares were more than 6% higher in early trading Friday.

Price: 3.9100, Change: +0.23, Percent Change: +6.25