Veritas Capital plans to acquire a health-care technology unit from General Electric. The company announced on 2nd April, 2018, that it 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 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. Veritas will work alongside the GE management team to ensure a seamless transition of the business into a standalone company.
GE is expected to continue investing in core digital solutions, such as smart diagnostics, connected devices, AI and enterprise imaging, that will drive precision health for its customers. Moreover, the company is expected to continue to operate in data analytics, command centers, advanced visualization and image management tools for better customer and patient outcomes. On the other hand, Veritas Capital acquired the Thomson Reuters healthcare business for $1.25 billion in 2012. The standalone business, named Truven Health Analytics, was later raised up by IBM Watson Health for $2.6 billion. The company has a track record of strategically transforming businesses in the space by working closely with management teams to expand customer benefits.
Healthcare Market Research Manager