Veritas Capital Completes Acquisition of Revenue-Cycle, Ambulatory Care and Workforce Management Software Units from GE Healthcare for $1 Billion

Veritas Capital (“Veritas”), a leading private equity investment firm,
and General Electric (NYSE:GE), today announced that an affiliate of
Veritas has completed its acquisition of GE Healthcare’s Enterprise
Financial Management (Revenue-Cycle, Centricity Business), Ambulatory
Care Management (Centricity Practice Solution) and Workforce Management
(formerly API Healthcare) assets for $1.05 billion in cash. This follows
the announcement of the agreement between Veritas and GE on April 2,

The Enterprise Financial, Ambulatory Care and Workforce Management
businesses will operate as a standalone company.

“Today marks the beginning of an exciting chapter, and we look forward
to supporting the leadership team’s pursuit of the growth opportunities
ahead,” said Ramzi Musallam, CEO and Managing Partner of Veritas
Capital. “The healthcare technology space has been a key focus area for
Veritas, and we believe we can support a transformation of this business
by enhancing customer benefits, improving efficiencies, and supporting
the development of innovative products and services.”

“We believe this platform is well-positioned in a dynamic market, and we
are excited by the opportunity to unlock potential and grow as a
standalone business,” said Jon Zimmerman, President, Value-Based Care.
“By prioritizing investments in the people, innovative products and
technology necessary to drive value and meet the complex needs of a
diverse customer base, we believe we can accelerate growth while playing
a leading role in the digitalizing of the healthcare system.”

“We are confident this business will thrive with a focused investment
strategy under Veritas Capital,” said Kieran Murphy, President & CEO of
GE Healthcare. “GE Healthcare will continue to make investments that
deliver leading outcomes for our customers and grow the areas of our
business that align to our vision of enabling precision health. Digital
is at the heart of this vision.”

GE Healthcare will continue to invest significantly in digital solutions
that enable precision health for customers, across diagnostics,
therapeutics and monitoring. These include: enterprise imaging,
connected machines, smart diagnostics, artificial intelligence (AI),
advanced analytics, command centers and algorithms that improve not only
the accuracy of medical diagnosis, but also the efficiency of providers,
the personalization of treatment and the overall quality of care.

Morgan Stanley and Keval Health acted as financial advisors to GE in the
transaction. Goldman, Sachs & Co. and William Blair & Company were
financial advisors, and Schulte Roth & Zabel LLP served as legal
counsel, to Veritas Capital in the transaction.

About Veritas Capital

Veritas Capital is a leading private equity firm that invests in
companies that provide critical products and services, primarily
technology and technology-enabled solutions, to government and
commercial customers worldwide, including those operating in the
aerospace & defense, healthcare, technology, national security,
communications, energy, government services and education industries.
Veritas seeks to create value by strategically transforming the
companies in which it invests through organic and inorganic means.

For more information on Veritas Capital and its current and past
investments, visit

About GE Healthcare

Harnessing data and analytics across hardware, software and biotech, GE
Healthcare is the $19 billion healthcare business of GE (NYSE:GE). As a
leading provider of medical imaging equipment, with a track record of
more than 100 years in the industry and more than 50,000 employees
across 100 countries, we transform healthcare by delivering better
outcomes for providers and patients. Follow us on Facebook,
and The
Pulse for latest news. For more information about
GE Healthcare, visit our website at

View source version on

Leave a Comment