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SAIC to Acquire Vitalize Consulting Solutions, Inc.
Company to Expand Health Solutions Portfolio to Help Customers Better Address Electronic Health Record (EHR) Implementation and Optimization Demand
MCLEAN, Va., July 21, 2011 /PRNewswire/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) today announced that it has entered into a definitive agreement to acquire Vitalize Consulting Solutions (VCS), Inc., a leading provider of clinical, business and information technology (IT) services for healthcare enterprises.
VCS provides a comprehensive range of healthcare IT services including strategic consulting, system implementation, operational improvement, custom reporting, training, education and knowledge transfer. The company specializes in the implementation and optimization of electronic health record (EHR) systems from major commercial-off-the-shelf vendors, as well others within the ambulatory and practice management arenas. VCS primarily serves customers in the commercial hospital market that are implementing EHR products and systems.
The acquisition will strengthen SAIC's existing government health solutions business as Federal customers are expected to implement commercial products in the development and enhancement of their EHR solutions. It will also provide the company a dynamic channel into the commercial health provider market, as well as the ability to leverage its information integration and data analytics expertise with VCS' healthcare IT and clinical workflow optimization capabilities. The complementary nature of this combination is expected to provide further opportunities for growth as commercial and Federal health markets converge.
As a result of the deal, approximately 600 VCS employees will join SAIC's Health Solutions Business Unit (HSBU), led by Steve Comber. HSBU is a part of the Health, Energy and Civil Solutions Group, led by SAIC Group President Joe Craver.
"Acquiring VCS enables SAIC to increase its presence in the commercial and federal healthcare space by offering solutions that meet our customers' critical needs, while offering the opportunity for cost reduction and improved patient care," said Craver.
"We at Vitalize are excited to join the SAIC team," said Bruce Cerullo, chief executive officer of VCS. "SAIC, a healthcare IT service leader in the government sector, and Vitalize in the commercial hospital and ambulatory market, will create a force to be reckoned with. Our clients can look forward to expanded service line offerings, and our people to new career growth opportunities -- all provided with rigorous attention to ensuring VCS and SAIC remain together -- a great place to work."
The acquisition is expected to close in early August 2011, subject to customary closing conditions, including expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Terms of the acquisition were not disclosed.
About SAIC
SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 41,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of $11.1 billion for its fiscal year ended January 31, 2011. For more information, visit http://www.saic.com. SAIC: From Science to Solutions®
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2011, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Contact: Melissa Koskovich Vernon Guidry
(703) 676-6762 (703) 676-6255
Koskovichm@saic.com guidryjrv@saic.com
SOURCE SAIC
SAIC
Web Site: http://www.saic.com
SAIC to Acquire Vitalize Consulting Solutions, Inc.
Company to Expand Health Solutions Portfolio to Help Customers Better Address Electronic Health Record (EHR) Implementation and Optimization Demand
MCLEAN, Va., July 21, 2011 /PRNewswire/ -- Science Applications International Corporation (SAIC) (NYSE: SAI) today announced that it has entered into a definitive agreement to acquire Vitalize Consulting Solutions (VCS), Inc., a leading provider of clinical, business and information technology (IT) services for healthcare enterprises.
VCS provides a comprehensive range of healthcare IT services including strategic consulting, system implementation, operational improvement, custom reporting, training, education and knowledge transfer. The company specializes in the implementation and optimization of electronic health record (EHR) systems from major commercial-off-the-shelf vendors, as well others within the ambulatory and practice management arenas. VCS primarily serves customers in the commercial hospital market that are implementing EHR products and systems.
The acquisition will strengthen SAIC's existing government health solutions business as Federal customers are expected to implement commercial products in the development and enhancement of their EHR solutions. It will also provide the company a dynamic channel into the commercial health provider market, as well as the ability to leverage its information integration and data analytics expertise with VCS' healthcare IT and clinical workflow optimization capabilities. The complementary nature of this combination is expected to provide further opportunities for growth as commercial and Federal health markets converge.
As a result of the deal, approximately 600 VCS employees will join SAIC's Health Solutions Business Unit (HSBU), led by Steve Comber. HSBU is a part of the Health, Energy and Civil Solutions Group, led by SAIC Group President Joe Craver.
"Acquiring VCS enables SAIC to increase its presence in the commercial and federal healthcare space by offering solutions that meet our customers' critical needs, while offering the opportunity for cost reduction and improved patient care," said Craver.
"We at Vitalize are excited to join the SAIC team," said Bruce Cerullo, chief executive officer of VCS. "SAIC, a healthcare IT service leader in the government sector, and Vitalize in the commercial hospital and ambulatory market, will create a force to be reckoned with. Our clients can look forward to expanded service line offerings, and our people to new career growth opportunities -- all provided with rigorous attention to ensuring VCS and SAIC remain together -- a great place to work."
The acquisition is expected to close in early August 2011, subject to customary closing conditions, including expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Terms of the acquisition were not disclosed.
About SAIC
SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 41,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of $11.1 billion for its fiscal year ended January 31, 2011. For more information, visit http://www.saic.com. SAIC: From Science to Solutions®
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2011, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
Contact: Melissa Koskovich Vernon Guidry
(703) 676-6762 (703) 676-6255
Koskovichm@saic.com guidryjrv@saic.com
SOURCE SAIC
SAIC
Web Site: http://www.saic.com