Veritas Capital (“Veritas”), a leading private equity investment firm has acquired GE Healthcare’s Value-Based Care division for $1.05 billion in cash. GE Healthcare’s Value-Based Care Division includes the Enterprise Financial Management (Revenue-Cycle, Centricity Business), Ambulatory Care Management (Centricity Practice Solution) and Workforce Management (formerly API Healthcare) assets.
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.
We see a tremendous opportunity to invest in this business and partner with management to take advantage of a $9 billion market that continues to benefit from favorable sector trends, particularly a real and urgent need to digitalize our healthcare system. Similar to our previous healthcare technology investments, all of which have been corporate carve outs, we will be deeply customer-focused, and invest significantly in people, technology and infrastructure to support the evolving requirements of the company’s diverse customer group. GE has built a highly regarded platform with a strong product set and an experienced team, and we look forward to supporting management as they redouble their focus on delivering superior value to all customers,” said Ramzi Musallam, CEO and Managing Partner of Veritas Capital.
The acquisition is expected to close in Q3 2018.
