General Electric (GE) has agreed to sell its value-based care division to private equity investment firm Veritas Capital for $1.05 billion. The division encompasses enterprise financial management, ambulatory care management, and workforce management, which all fall under the GE Healthcare brand.

“Veritas Capital is the ideal firm to provide the focus and investment to take our business to the next level of scale and performance. Our team has significant knowledge and expertise in the healthcare IT space, and by operating as a standalone business under Veritas’ ownership, we now have the opportunity to further revitalize our product portfolio and pursue complementary acquisitions to better serve patients, providers and payers,” says Jon Zimmerman, vice president and general manager of value-based care solutions at GE Healthcare.

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