General Dynamics expands healthcare tech

Defence contractor General Dynamics says it will expand in the growing market for healthcare information technology by acquiring Vangent for about $960 million in cash, reports Takeover Chatter.

Vangent is being acquired from private equity firm Veritas Capital and will become part of General Dynamics Information Technology, which has been providing healthcare IT systems and solutions to federal, commercial and military customers for nearly 30 years.

Jay Johnson, chairman and CEO of General Dynamics, said in a statement: “Vangent is a well-regarded, fast-growing company that will add significant depth and breadth to General Dynamics' health care IT organisation,” writes Washington Technology.

He adds: “Increasingly, agencies will rely on efficient, modern business and information systems as key enablers of their citizen-service missions, and Vangent is a leader in meeting those information technology and business system requirements.”

Vangent, which has more than 7 500 employees, primarily supports the US departments of Health and Human Services, Education, Labour, State and Defence, states The Wall Street Journal.

The company's core offerings include health information and information exchange, as well as electronic health records and data analytics.