M&A Deal Summary

Veritas Capital Acquires Centricity Contingent Staffing

On July 11, 2018, private equity firm Veritas Capital acquired information technology company Centricity Contingent Staffing from GE Healthcare for 1.1B USD

Acquisition Highlights
  • This is Veritas Capital’s 5th transaction in the Information Technology sector.
  • This is Veritas Capital’s 10th largest (disclosed) transaction.
  • This is Veritas Capital’s 24th transaction in the United States.
  • This is Veritas Capital’s 1st transaction in Wisconsin.
Investment Fate
  • Centricity Contingent Staffing was sold to a strategic buyer in 2019.

M&A Deal Summary

Date 2018-07-11
Target Centricity Contingent Staffing
Sector Information Technology
Buyer(s) Veritas Capital
Sellers(s) GE Healthcare
Deal Type Divestiture
Deal Value 1.1B USD

Target

Centricity Contingent Staffing

Hartford, Wisconsin, United States
website
Centricity Contingent Staffing is a provider of human capital management solutions to the healthcare industry including time and attendance, staffing and scheduling, patient classification, payroll, human resource, productivity management and education tracking software.

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Buyer(S) 1

Buyer

Veritas Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.


DEAL STATS #
Overall 25 of 40
Sector (Information Technology) 5 of 8
Type (Divestiture) 14 of 18
State (Wisconsin) 1 of 1
Country (United States) 24 of 38
Year (2018) 3 of 5
Size (of disclosed) 10 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-02 Virence Health Technologies

Westborough, Massachusetts, United States

Virence Health Technologies is a leading software provider that leverages technology and analytics to help healthcare providers across the continuum of care effectively manage their financial, clinical, and human capital workflows. Offering a comprehensive suite of innovative technology-enabled solutions, Virence aims to improve quality, increase efficiency, and reduce waste in the healthcare industry.

Buy $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-13 BeyondTrust

Johns Creek, Georgia, United States

BeyondTrust is a provider of Privileged Access Management (PAM) software solutions, empowering organizations to secure and manage privileges across passwords, endpoints, and access while enhancing control and visibility. BeyondTrust was founded in 1985 and is based in Johns Creek, Georgia.

Sell -

Seller(S) 1

SELLER

GE Healthcare

Westborough, Massachusetts, United States

website


Category Company
Founded 1994
Sector Medical Products
DESCRIPTION

GE Healthcare, a unit of General Electric Company is a provider of medical technologies and services. GE Healthcare has expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, performance improvement, life sciences, drug discovery, and biopharmaceutical manufacturing technologies. GE Healthcare is based in Westborough, Massachusetts.


DEAL STATS #
Overall 9 of 11
Sector (Information Technology) 3 of 4
Type (Divestiture) 9 of 11
State (Wisconsin) 1 of 1
Country (United States) 8 of 10
Year (2018) 3 of 3
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-02 Virence Health Technologies

Westborough, Massachusetts, United States

Virence Health Technologies is a leading software provider that leverages technology and analytics to help healthcare providers across the continuum of care effectively manage their financial, clinical, and human capital workflows. Offering a comprehensive suite of innovative technology-enabled solutions, Virence aims to improve quality, increase efficiency, and reduce waste in the healthcare industry.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 GE Healthcare’s U.S. Radiopharmacy Network

Westborough, Massachusetts, United States

GE Healthcare’s U.S. Radiopharmacy Network focused on supplying GE Healthcare molecular imaging products.

Sell -