Lockheed Martin Corp. (NYSE: LMT) has entered a definitive agreement to acquire healthcare IT firm QTC Holdings Inc. for an undisclosed amount.
Calif.-based QTC is the largest outside provider of medical evaluation services to the U.S. government and the U.S. Veterans Affairs Department, processing more than 450, 000 evaluations last year.
Lockheed does not expect the acquisition to have a material affect on the company.
The transaction is expected to close before the end of 2011, subject to customary closing conditions.
“QTC’s IT-enabled case management services and health care expertise complement our core capabilities in addressing the needs of the Department of Defense, VA and other government agencies, ” Lockheed Martin Chairman and CEO Bob Stevens said. “QTC aligns with our IT expertise and adjacent market growth strategy and will be a natural fit within our Information Systems & Global Solutions business.”
