GE & #039;s CEO Makes Good on Promise to Divest Assets

GE Healthcare is streamlining its focus. The Chalfont, U.K.-based company has received a $1.05 billion bid for its Value-Based Care division from Veritas Capital. The divestiture of the business is set to close in the third quarter of 2018. The deal would help to create a leaner GE Healthcare that is more focused on its diagnostics and artificial intelligence offerings. Veritas is acquiring GE Healthcare’s assets in ambulatory care management, enterprise financial management and workforce management. The acquisition continues Veritas’ growing presence in the healthcare space. The private equity company recently invested in Truven Health and Verscend Technologies. “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,” Ramzi Musallam, CEO and Managing Partner of Veritas Capital, said in a prepared statement. “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.” Join us at the BIOMEDevice Boston Expo,  April 18–19, 2018. Use promo code "MDDI" for 20% off conference registration and free expo access.   Time for a change After abysmal...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news