General Dynamics Acquires Vangent Inc. from Veritas Capital

Vangent Holding Corp., the parent company of Vangent, Inc., was acquired by General Dynamics in a cash transaction valued at $960 million. Vangent is a leading provider of healthcare information technology and business systems for government agencies.

Although Vangent is majority owned by The Veritas Capital Fund II, L.P., it will now become part of General Dynamics Information Technology sector, which has  provided healthcare information technology systems and solutions to the federal, commercial and military customers for almost 30 years. The transaction is expected to close by October 1, 2011.

“Vangent is a well-regarded, fast-growing company that will add significant depth and breadth to General Dynamics’ healthcare IT organization, creating a Tier 1-level healthcare IT business unit with the scope and scale to compete in markets that are receiving high priority in current funding and entitlement-reform initiatives,” said Jay L. Johnson, chairman and chief executive officer of General Dynamics.  “Increasingly agencies will rely on efficient, modern business and information systems as key enablers of their citizen-service missions, and Vangent is a leader in meeting those information technology and business system requirements.”

Vangent’s main clients are the U.S. Department of Health and Human Services, Education, Labor, Defense and State. Its offerings include health informatics and information exchange, electronic health records and data analytics along with a state-of-the-art business- process outsourcing solution system. With more than 7,500 employees, Vangent has certainly made its mark in the IT world.

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