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CoreSource Inc. has signed a letter of intent to sell its employee benefits claims administration operations in Las Vegas, Phoenix and Reno to L&H Administrators of Nevada.
A purchase price was not disclosed, although Frank Rousseau, L&H' s chairman and chief executive, said the operations' revenue stream was in "seven figures." The deal is expected to be completed today.
Jim Long, CoreSource's senior vice president and chief financial officer, said the transaction doesn't include CoreSource's Las Vegas workers' compensation operations. CoreSource employs 79 people locally, all but...