Healthcare vendor exec sells for $4.7M in Boca Raton

Dru A. Schmitt and his wife, Deborah, sold their six-bedroom, 7.5 bath at 147 W. Coconut Palm Rd. in Boca Raton for $4.7 million to Andrew Rudnick and his wife, Catherine, on July 2.

The Schmitts paid $4.875 million for the 7,558 square foot house in April 2003, the same year it was built.

Mr. Schmitt is a co-founder of Advanced Business Fulfillment, Inc., an outsource vendor for healthcare document processing that was bought by WebMD in 2003. He previously served as the company's chief technology officer and chief operating officer until his retirement from the company in 2005.

He has also served as secretary and treasurer of Anthony, Allan & Quinn, Inc. , a holding company in Earth City, Mo., that he co-founded and co-managed until 2005.

Mr. Schmitt received his bachelor's in computer science from the University of Northern Iowa.

The Schmitts bought a five-bedroom, five bath at 13 Twin Springs Lane in the St. Louis suburb of Ladue for $2 million on May 2007.

Home sales in Boca Raton have dropped 24.3 percent thus far in 2008. The median sale price dropped $50,000, from $420,000 in 2007 to $370,000 so far this year.

Address: 147 West Coconut Palm Road
Buyer(s): Andrew Rudnick and Catherine Rudnick
Seller(s): Dru A Schmitt and Deborah Schmitt
Sale date: Jul. 2, 2008