Lockheed Martin [LMT] yesterday said it has agreed to acquire California-based QTC Holdings Inc., a provider of healthcare information technology (IT) services to the federal government.
Terms of the deal, which is expected to close this year subject to regulatory approvals, were not disclosed. Lockheed Martin said the acquisition would not be material to its financial results.
QTC is the largest provider of outsourced medical evaluation services to the federal government with the Department of Veterans Affairs its largest customer.
“QTC’s IT-enabled case management services and health care expertise complement our core capabilities in addressing the needs of the Department of Defense, VA and other government agencies,” Bob Stevens, Lockheed Martin’s chairman and CEO, said in a statement.
Lockheed Martin’s pending deal for QTC follows an announcement by General Dynamics [GD] last week of an agreement to acquire federal health care IT provider Vangent for $960 million (Defense Daily, Aug. 17). Healthcare, like cyber security and the ISR space, is seen as one of the relatively few growth areas in the defense market amid a looming period of constrained federal budgets.
SAIC last month also said it is acquiring a federal health care IT provider, Vitalize Consulting Solutions (Defense Daily, July 22).