DXC Technology Completes the Sale of DXC's Healthcare Provider Software Business to the Dedalus Group
DXC Technology (NYSE: DXC) today announced that it has completed the sale of DXC's healthcare provider software business to the privately held Dedalus Group, a leading European healthcare and diagnostic software company, which is creating a stronger global presence in the clinical IT areas of hospital information systems (HIS), primary and social care, integrated care and diagnostics. The transaction was previously announced in July 2020.
The sale of DXC's healthcare provider software business to Dedalus is consistent with DXC's strategy and focus on the Enterprise Technology Stack. DXC expects to receive net proceeds of about $450 million from the transaction.
"The completion of the sale of our healthcare provider software business strengthens our balance sheet and unlocks new value for our stakeholders," said Mike Salvino, President and CEO, DXC. "I would like to thank our people who are moving on to the Dedalus Group for their commitment and contributions over the years and for their focus on our customers during this process."
"Dedalus' vision is for a digitally enabled healthcare ecosystem where all stakeholders actively collaborate across the continuum of care to improve each citizen's health outcomes," said Andrea Fiumicelli, CEO of Dedalus Group. "The acquisition by Dedalus is on par with our growth initiative strategy that began four years ago. Our expanded software solutions enable the integration of processes, workflows and applications in order to improve healthcare outcomes for each individual and for the population as a whole. At the core of our business is a constant focus and commitment to data security and to create and deliver innovation at scale."
"We have an incredible research and development team and a strong leadership team. Our mission is to innovate," continued Giorgio Moretti, Chairman of Dedalus Group. "Our expectation in the coming years is that healthcare will embrace new technologies and service paradigms that will transform the experience of care for all citizens and care teams."
About DXC Technology
DXC Technology (NYSE: DXC) helps global companies run their mission critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. With decades of driving innovation, the world's largest companies trust DXC to provide services across the Enterprise Technology Stack to deliver new levels of performance, competitiveness and customer experiences. Learn more about the DXC story and our focus on people, customers and operational execution at www.dxc.technology.
Founded in Florence in 1982 by the current Chairman Giorgio Moretti, Dedalus Group is the leading healthcare and diagnostic software provider in Europe and one of the largest in the world. The shareholding structure ensures stability and great financial capacity through the presence of Ardian, the largest private investment company in Europe and the fourth in the world.
Starting in 2016, Dedalus has accelerated its expansion strategy by targeting the growing demand for innovative and comprehensive ICT and Clinical transformation solutions. Today Dedalus has a strong footprint in Germany, Italy, France, UK & Ireland, Northern Europe, Austria, Switzerland, Spain, China, Brazil, Australia, New Zealand and several locations in Latin America, the Middle East and Africa, having a presence in over 40 different countries. Thanks to its undisputed cutting-edge portfolio of leading, new generation solutions, Dedalus covers the whole spectrum of needs for healthcare operators, supporting over 6,000 hospitals and 5,000 laboratories around the world.www.dedalus.com.
Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian's activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 670 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1.000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements." These statements represent current expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. Furthermore, many of these risks and uncertainties are currently amplified by and may continue to be amplified by or may, in the future, be amplified by, the recent outbreak of the novel coronavirus ("COVID-19") pandemic and the impact of varying private and governmental responses that affect our customers, employees, vendors and the economies and communities where they operate. For a written description of these factors, see the section titled "Risk Factors" in DXC's Annual Report on Form 10-K for the fiscal year ended March 31, 2020, and any updating information in subsequent SEC (News - Alert) filings including DXC's Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2020. No assurance can be given that any goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events except as required by law.