IRVING, Texas, Jan. 03, 2019 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (NASDAQ: XELA), a leader in business process automation across several industries with location agnostic solutions, today announced the closing of a healthcare industry asset acquisition, as it continues to expand its activities in this space. The accretive acquisition was funded with cash on hand.
The acquisition will add over $20 million of annual revenue and for the next seven years, guaranteed annual revenue increases each year. By leveraging industry leading healthcare platforms, cognitive automation and deep domain knowledge, Exela’s existing healthcare business of $346 million, or 22% of total revenue on a trailing 12-month basis ending September 30, 2018, is positioned to grow higher than the overall industry estimate of 5%.
“We are focused on providing our healthcare industry customers best of class solutions and services and are committed to profitable growth across all industries we serve. Near term, we expect our healthcare business growth rate to be higher than the healthcare industry growth rate estimates, backed by in-hand incremental business from existing customers, new customer wins and prudent investments,” said Suresh Yannamani, President, Exela Technologies.
About Exela
Exela is a location-agnostic global BPA leader combining industry-specific and multi-industry enterprise software and solutions with decades of experience. Our BPA suite of solutions are deployed in banking, healthcare, insurance and other industries to support mission critical environments. Exela is a leader in work flow automation, attended and un-attended cognitive automation, digital mail rooms, print communications, and payment processing with deployments across the globe. Exela partners with customers to improve user experience and quality through operational efficiency. Exela serves over 3,700 customers across more than 50 countries, through a secure, cloud-enabled global delivery model. We are 22,000 employees strong across the Americas, Europe and Asia. Our customer list includes 60% of the Fortune® 100, along with many of the world's largest retail chains, banks, law firms, healthcare insurance payers and providers and telecom companies.
Find out more at www.exelatech.com
