In line with this strategy, the company said in August last year it had signed a definitive agreement to acquire RSA Medical, a provider of health assessment and risk management for members interacting with health and life insurance companies. Midas+, a Xerox company focused on the healthcare market, also acquired Healthy Communities Institute, a Berkeley, California-based company that offered a software-as-a-service platform that centralizes proprietary, healthcare and community data to help hospitals and other health organizations manage population health.
Xerox, however, had to make a mid-term change in its IT outsourcing business strategy. It decided in December 2014 to sell its ITO business to Atos for $1.05 billion, as this business had not acquired the scale to enable Xerox to offer its customers a differentiated offering. Under the deal, Atos would provide IT services to Xerox and its BPO clients, while the company focused on its BPO and document processing business.
Xerox, which was founded in 1906 in Rochester, New York, reported Friday revenue of $4.6 billion in the fourth quarter of 2015, down 8 percent from the same period in the previous year. It had a profit of $285 million, an increase of 43 percent over the same quarter in 2014. Burns said in October that the board had decided to do a comprehensive review of "structural options for the company's portfolio."
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