MEDecision’s interim chief steps down
MEDecision's interim president and chief operating officer, Timothy W. Wallace, has resigned and terminated his consulting agreement, effective last Friday, the company announced in an SEC filing today.
MEDecision's interim president and chief operating officer, Timothy W. Wallace, has resigned and terminated his consulting agreement, effective last Friday, the company announced in an SEC filing today.
Wallace, who will remain on the Wayne company's board, became interim president in April. MEDecision, which makes software that insurance companies use to manage the care of subscribers with chronic illnesses, announced last month that it had reached a merger agreement with Health Care Service Corp., which operates Blue Cross and Blue Shield plans in Illinois, New Mexico, Oklahoma and Texas.
The transaction is valued at $121 million. MEDecision plans to release quarterly financial results on Thursday.