M&A Deal Summary

Veritas Capital Acquires Virence Health Technologies

On April 2, 2018, private equity firm Veritas Capital acquired software company Virence Health Technologies from GE Healthcare for 1.1B USD

Acquisition Highlights
  • This is Veritas Capital’s 2nd transaction in the Software sector.
  • This is Veritas Capital’s 10th largest (disclosed) transaction.
  • This is Veritas Capital’s 23rd transaction in the United States.
  • This is Veritas Capital’s 2nd transaction in Massachusetts.
Investment Fate
  • Virence Health Technologies merged with another company in 2019.

M&A Deal Summary

Date 2018-04-02
Target Virence Health Technologies
Sector Software
Buyer(s) Veritas Capital
Sellers(s) GE Healthcare
Deal Type Divestiture
Deal Value 1.1B USD

Target

Virence Health Technologies

Westborough, Massachusetts, United States
website
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.

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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 24 of 40
Sector (Software) 2 of 3
Type (Divestiture) 13 of 18
State (Massachusetts) 2 of 4
Country (United States) 23 of 38
Year (2018) 2 of 5
Size (of disclosed) 10 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-14 Guidehouse

Washington, District of Columbia, United States

Guidehouse is a global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. The Company helps clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Guidehouse is based in Washington DC.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-11 Centricity Contingent Staffing

Hartford, Wisconsin, United States

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.

Buy $1.1B

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 8 of 11
Sector (Software) 1 of 1
Type (Divestiture) 8 of 11
State (Massachusetts) 1 of 2
Country (United States) 7 of 10
Year (2018) 2 of 3
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-31 Omnyx

Pittsburgh, Pennsylvania, United States

Omnyx is focused on innovation in pathology. Through its Precision Solution that includes the brilliant Dynamyx® software and transformative consulting, all members of the cancer care team can work together to enhance patient outcomes. Dynamyx goes beyond simple image viewing and evaluation. It streamlines case management and communication among the entire care team while providing a foundation for image analysis algorithms to enable pathologists to gain deeper insights into patients’ cancers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-11 Centricity Contingent Staffing

Hartford, Wisconsin, United States

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.

Sell $1.1B