Science Applications International to acquire maxIT Healthcare for $473 million
- July 18, 2012
Science Applications International Corp. said Wednesday that it has entered into a definitive agreement to acquire maxIT Healthcare Holdings, Inc., a healthcare IT consulting firm based in Westfield, Ind.
The acquisition is expected to close in August 2012, pending regulatory approval. SAIC said it will pay about $473 million, subject to adjustment from cash on hand to acquire maxIT Healthcare. In addition, SAIC expects to pay up to $20 million to maxIT Healthcare shareholders after receipt of certain tax refunds following closing.
As the largest private independent healthcare IT consulting company in North America, maxIT Healthcare provides a comprehensive range of services and solutions primarily to commercial hospital groups and other medical delivery organizations. They include IT strategy and planning, electronic health record (EHR) implementation and optimization, and management consulting across a broad range of activities.
maxIT Healthcare has served more than 600 hospitals, hospital groups, physician practices and accountable care organizations (ACOs) in the U.S. and Canada. The company’s expertise will be combined with SAIC’s Vitalize Consulting Solutions (VCS) team, which SAIC acquired in 2011. The deal acquisition will create the nation’s largest commercial consulting practice in EHR implementation and optimization services and is expected to boost SAIC’s capabilities to serve its base of federal health care customers.
As a result of the acquisition, approximately 1,300 employees from maxIT Healthcare 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. “The maxIT Healthcare team brings significant capabilities and talent to SAIC, as well as an outstanding reputation with its customers for providing the highest level of service,” said Craver. “Combined with our acquisition of VCS, this deal enhances SAIC’s capabilities to address the nation’s challenge of rising healthcare costs, access to quality care, and the need to improve patient outcomes.”