Veritas Capital entered into a definitive agreement April 2 with General Electric Healthcare to purchase its value-based care division for $1.05 billion in cash.
Under the agreement, which is expected to close in the third quarter of 2018, Veritas will acquire GE's enterprise financial management, ambulatory care management and workforce management assets. GE's value-based care portfolio will operate as a standalone business under Veritas' ownership, said Jon Zimmerman, vice president and general manager of value-based care solutions at GE.
"With Veritas' support and resources, we are excited to continue deepening our commitment and capabilities to help healthcare providers manage their financial, clinical, and employee workflows across the continuum of care," Mr. Zimmerman added.
GE will continue to invest in core digital solutions — such as smart diagnostics, connected devices, AI and enterprise imaging — to advance precision health efforts.
More articles on health IT:
Why the VA's EHR project may top $16B
HIMSS voices support for VA proposal to ease requirements for medical record sharing
16 hospitals, health systems seeking Allscripts, Cerner, Epic, Meditech talent