Veritas Capital Sets Oct. 1 for $5B DXC Health Business Deal Closure; Ramzi Musallam Quoted

Veritas Capital has scheduled Oct. 1 as the date the private equity firm expects to complete its pending $5B cash acquisition of the U.S. state and local health and human services unit from DXC Technology (NYSE: DXC).

Paul Saleh, executive vice president and chief financial officer of DXC, will serve as CEO of the business Veritas is acquiring and renaming “Gainwell Technologies” upon the deal’s closure, the New York-based investment company said Wednesday.

“The choice of Gainwell reflects the true vision of the new company,” said Ramzi Musallam, CEO and managing partner of Veritas and a five-time Wash100 Award recipient.

Musallam added that the future standalone organization will work with customers to help them drive transformational change by using technology.

In a separate statement, DXC said Corporate Controller Neil Manna will succeed Saleh in an interim basis until the company finds a permanent CFO replacement.

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