Dec. 25, 1981
Credit...The New York Times ArchivesSee the article in its original context from
December 25, 1981
,
Section 2,Page
39
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The Bradford National Corporation and the McDonnell Douglas Corporation announced the purchase, by the McDonnell Douglas Automation Company, of Bradford Systems and Administrative Services divisions for $11.5 million.
The Bradford unit provides fiscal agency services in connection with the New York State Medicaid Management Information System.
Revenues from those operations for the 11 months ended Nov. 30, 1981, were $41 million. Bradford said that while it would continue to provide health-care related services, it estimates a writedown in such operations would result in a $3 million to $4 million charge against fourth-quarter earnings.
In a related development, Bradford National was fined $200,000 after pleading guilty to defrauding Federal agencies on contracts by submitting inflated bills between 1975 and 1978.
The maximum fine was imposed on the Manhattan-based company by United States District Judge Charles S. Haight Jr. after lawyers representing the company entered guilty pleas to 24 felony counts.
The charges resulted from a 30-month investigation in which an Assistant United States Attorney, Robert S. Litt, determined that Government agencies lost about $750,000 through inflated bills submitted by Bradford National over the three-year period.
Bradford National's guilty plea included an agreement by the company to pay the Government $850,000 in addition to the fine to settle civil claims for recovery, Mr. Litt said.
A version of this article appears in print on
, Section
2
, Page
39
of the National edition
with the headline:
Bradford National Sells a Division
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