CONDUENT INCORPORATED (NYSE:CNDT) Files An 8-K Other EventsItem 8.01. Other Events.
On November28, 2017, Conduent Incorporated (the “Company”) entered into a definitive settlement agreement with the State of New York regarding resolution of the Health Enterprise (HE) platform project. Under the terms of the settlement: (1)the Company’s contract with the State of New York will terminate effective December15, 2017 and the Company will be released from all liabilities and obligations in connection with the contract at such time; and (2)the Company will pay, or incur costs on behalf of, the State of New York in the amount of approximately $20.2million. As this amount had been previously reserved by the Company, the Company will incur no additional charges as a result of the settlement.
About CONDUENT INCORPORATED (NYSE:CNDT)
Conduent Incorporated is a business process services company. The Company’s segments include Commercial Industries, Healthcare, Public Sector and Other. Its Commercial Industries segment provides business process services and customized solutions to customers of industries. Its Healthcare segment provides industry-centric business process services to customers across the healthcare industry, including providers, payers, employers, pharmaceutical and life science companies and government agencies. Its Public Sector segment provides government-centric business process services to the United States federal, state and local and foreign governments for transportation, public assistance, program administration, transaction processing and payment services. Its other segment includes Government Health Enterprise Medicaid Platform business. It serves customers in various areas, such as aerospace and defense, automotive services, banking, chemical, insurance, transportation and utilities.
