FALLS CHURCH, Va., 9 June 2008.General Dynamics Information Technology, a subsidiary of General Dynamics, entered into a definitive agreement to acquire ViPS, Inc., a wholly-owned subsidiary of HLTH Corp. for approximately $225 million.
The transaction, which has been approved by the boards of directors at General Dynamics and at HLTH, is subject to normal regulatory approvals and is expected to close in 2008. ViPS will become part of the General Dynamics Information Technology business unit.
Headquartered in Towson, Md., ViPS is a leading provider of high-end healthcare technology solutions, including data management, analytics, decision support, and process automation that support both federal agencies and commercial healthcare organizations. ViPS is a key services provider in supporting CMS and private payers' efforts to reduce healthcare costs and claims fraud, increase customer satisfaction and improve patient outcomes. The company has extensive credentials in application development and integration, including information assurance and security. ViPS has approximately 600 employees.
"ViPS is an outstanding company that provides complementary capabilities and an expanded customer base in a high-growth market segment for General Dynamics Information Technology," says Dan Johnson, president of General Dynamics Information Technology. "ViPS has significant skills in application integration and information assurance, as well as an exceptional reputation within the Department of Health and Human Services, and specifically the Centers for Medicare and Medicaid Services, as a provider of secure applications that create lasting value for its customers."
