Bankrupt Health Risk Management Inc. has retained Atlanta-based Harpeth Capital to explore strategic options, including a sale, for two divisions. And the lead Harpeth banker sees no snags in the road to a quick sale of the units. Minneapolis, Minn.-based Health Risk plans to divest its third-party administration division (TPA) and its IHQ unit. The former provides excess-risk underwriting and care-management services (medical and dental plans), and the latter develops healthcare information products. Last year, TPA generated $38 million in revenue, while IHQ logged $5 million.
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