Cognosante has purchased Business Information Technology SolutionsÂ for an undisclosed sum in a push to expand the formerâs presence in the public health information technology sector.
BITS will operate as aÂ subsidiary and Founder and CEO Dan McQuay will continue to lead the business under the new ownership, Â Cognosante said Thursday.
McLean, Virginia-based Cognosante provides technology platforms, consulting and business process outsourcing support toÂ government health agencies.
BITS is a service-disabled, veteran-owned small business based in Falls Church, Virginia, that provides lifecycle IT consulting support services to the public sector.
BITS in March was awarded aÂ positionÂ on the Department of Veterans Affairsâ potential 10-year, $22.3 billion Transformation Twenty-One Total Technology Next Generation contract vehicleÂ that coversÂ IT modernization support services forÂ VA and other federal agencies.
Michele Kang, founder and CEO of Cognosante, said the transaction is part of Cognosanteâs growth strategy in the public health sector.
Cognosante funded the deal through an expanded line of creditÂ the company secured from Bank of America Merrill Lynch and Capital One.