ViPS Purchased by General Dynamics
ViPS, a health payer vendor, will be purchased by General Dynamics Information Technology. ViPS is a division of HLTH Corporation. The purchase price is $225 million. The deal already received approval from both company’s Boards of Directors and is expected to be finalized before year’s end.
ViPS was originally acquired by HLTH almost four years ago, which was WebMD Corporation at that time, for $160 million. ViPS has numerous clients in the federal government, as well as numerous commercial insurance clients including Blue Cross Blue Shield. One of ViPS noteworthy contracts is with the Centers for Medicare and Medicaid Services.
Existing software from ViPS supports HEDIS reporting, quality improvements, disease and case management, fraud and abuse detection, claims processing, provider performance measurement, and predictive modeling.
General Dynamics Information Technology is a subsidiary of General Dynamics. The company has numerous government contracts, in addition to deals with the commercial sector. The company’s I.T. division owns the MC4 electronic health records system that is used in combat zones.
June 4, 2008 Related topics: Mergers & Acquisitions