General Dynamics (NYSE: GD) has completed its acquisition of healthcare IT provider Vangent Inc. for approximately $960 million cash.
General Dynamics expects the move will increase its earnings in 2012. Vangent will become part of the company’s IT business unit, GDIT.
Vangent’s core offerings include health informatics and information exchange, electronic health records and data analytics. The company also provides business process outsourcing solutions and systems.
Its customers include the Health and Human Services, Commerce, Justice, Labor, State and Veterans Affairs departments.
“Together with General Dynamics Information Technology’s 30 years of experience in the healthcare IT market, this acquisition creates a tier 1-level business that can meet the large-scale requirements of customers in markets that are receiving high priority in current funding and entitlement-reform initiatives, ” said Jay Johnson, chairman and CEO of General Dynamics.
Previous acquisition coverage:
June 3: Vangent Inc. Reportedly for Sale