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E for me also. 'while it' is not the correct usage since there is no comparison between two events. 'But' is the correct usage. I narrowed it down to C and E, took out C because 'but then it..' is incorrect. 'the health care' company is the subject of the main sentence and hence an extra 'it' is not applicable.
A - While construction here is incorrect B - Same problem as B C - 'it' doesnt have a clear referent. D - 'proving' is incorrect tense E - CORRECT. Removes the 'ambiguous it' and provides correct simple past tense