General Dynamics [GD] on Monday said it has agreed to acquire ViPS, Inc., a healthcare technology services business unit of HLTH Corp. [HLTH], for $225 million to expand its capabilities and customer base in the fast growing healthcare information technology market.
Maryland-based ViPS had sales of $103.1 million and operating earnings of $21 million last year. The deal is expected to close sometime this year.
“ViPS has significant skills in application integration and information assurance, as well as an exceptional reputation within the Department of Health and Human Services (HHS), and specifically the Centers for Medicare and Medicaid Services, as a provider of secure applications that create lasting value for its customers.”
GD’s Information Technology business unit is acquiring ViPS. In the healthcare information technology area, GD provides professional services and support to the Army, Defense Logistics Agency and the DoD Tri-Service Regional Standardization Program. The company also provides IT support to HHS.