Private-equity firm Veritas Capital will buy GE Healthcare's value-based care division for $1.05 billion.
The deal includes GE's revenue cycle, ambulatory care and workforce management software businesses. The cash deal is expected to close in the third quarter, according to GE.
It's the latest in a series of GE divestitures as the behemoth looks to focus its work. GE Healthcare President and CEO Kieran Murphy said in a statement that the company plans to continue investing in smart diagnostics, connected devices and artificial intelligence, among other digital technologies.
"We will continue to lead in data analytics, command centers, advanced visualization and image management tools," he said.
In the analytics realm, Navicent Health announced in February it would work with GE Healthcare to improve its care-delivery model by drawing on GE Healthcare's analytics. It was the sixth risk-sharing, multi-year contract involving health systems that GE Healthcare entered into over the past two years.
Last fall, GE Healthcare sold the identity and access management division of Caradigm to Imprivata.
Soon after, GE CEO John Flannery announced he would be refocusing GE, centering efforts around healthcare, aviation and energy.
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