Veritas Capital announced that one of its affiliates has completed the acquisition of GE Healthcare’s enterprise financial management, ambulatory care management and workforce management assets for $1.05 billion in cash.
The businesses will be jointly operated as a standalone company.
Veritas, based in New York, is private equity firm with over $9.5 billion of assets under management. The firm invests in several sector, including healthcare.
GE Healthcare is the healthcare business of GE.
News of the acquisition follows the announcement of the agreement between Veritas and GE in April 2018.