Veritas enters definitive agreement with GE to buy healthcare unit

Veritas Capital, a New York based private-equity firm will reportedly purchase a healthcare technology division from General Electric for a valuation of USD 1.05 billion. The acquisition essentially encompasses GE’s ambulatory care, revenue-cycle, and workforce management software division, inclusive of the value-based care unit as well.

Speaking about the current takeover, Kieran Murphy, the chief executive officer of GE Healthcare states that the company will continue to make notable investments across the core digital solutions such as smart healthcare diagnostics and artificial intelligence. He further states that the firm will retain the dominant position as far as command centers, data analytics, image management tools, and advanced visualization is concerned, in order to create better patient outcomes.

Joe Zimmerman, General Manager of value-based care services at GE Healthcare, declares that the team working at the healthcare division possesses a significant knowhow about the healthcare IT domain. He further added that by functioning as a standalone business under Veritas, the healthcare division of GE will have a chance to further reposition its product portfolio and go for complementary purchases that will help the firm efficiently assist patients, healthcare service providers, and health service payers.

Incidentally, the healthcare technology business has been the main focus of Veritas Capital. The recent investments made by the esteemed firm in Verscend Technologies and Truven Health Analytics provide ample evidence in support of the same, claim industry analysts.

It is being speculated that this acquisition deal will be finalized somewhere during the second half of this year and will be subject to approval from regulatory bodies & customary closing conditions. According to authentic sources, Veritas Capital is expected to work with the management team of General Electric, thereby ensuring a seamless transition of the healthcare technology business of GE into a standalone business unit.