Veritas Capital acquires revenue-cycle, ambulatory care and workforce management software unit from GE Healthcare for $1.1B in cash
- Entered into a definitive agreement with GE to acquire the Enterprise Financial Management (Revenue-Cycle, Centricity Business), Ambulatory Care Management (Centricity Practice Solution) and Workforce Management (formerly API Healthcare) assets comprising GE Healthcare’s Value-Based Care Division for $1.05 billion in cash.
- The healthcare technology space has been a key focus area for Veritas Capital, as illustrated by its recent investments in Truven Health Analytics and Verscend Technologies. The firm has a robust track record of strategically transforming businesses in the space by working closely with management teams to enhance customer benefits through accelerated growth, improved efficiencies, and the development of innovative products and services. Veritas will work alongside the GE management team to ensure a seamless transition of the business into a standalone company.
- The transaction is expected to close during the third quarter of 2018, subject to customary closing conditions and regulatory approvals. Morgan Stanley and Keval Health are acting as financial advisors to GE in the transaction. Goldman, Sachs & Co. and William Blair & Company are acting as financial advisors and Schulte Roth & Zabel LLP is serving as legal counsel to Veritas Capital in the transaction.