Schulte represented Veritas Capital in a definitive agreement to acquire the U.S. State and Local Health and Human Services business of DXC Technology in a transaction valued at $5 billion. DXC Technology’s U.S. State and Local Health and Human Services business offers end-to-end technology enabled, mission critical solutions that are fundamental to the administration and operations of health programs throughout the United States. Veritas is a leading private equity firm that has made the healthcare technology space a key area of focus. The acquisition of the U.S. State and Local Health and Human Services business will give Veritas access to DXC’s world-class products and solutions that currently serve 42 states and territories. The deal was announced in March 2020 and is expected to close no later than December 2020.
The Schulte team that advised Veritas Capital was led by M&A and securities partner Richard Presutti and associate Lowell Dyer. The team also included M&A and securities partner Andrew Fadale and associates William Tevlin and Kristen Lin; finance partners Antonio Diaz-Albertini and Christopher Bell and associate Nicholas DeLisa; tax partner David Passey and associate Joseph Reich; employment & employee benefits partner Ian Levin and associate Adam Gartner; and intellectual property, sourcing & technology partner Edward Sadtler and special counsel John Garces.