Exela Technologies and General Dynamics Selected for $2 Billion Program by U.S. Department of Veterans Affairs
October 04 2019 - 8:00AM
Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a
location-agnostic global business process automation (“BPA”) leader
across numerous industries, today announced that, together with
General Dynamics Information Technologies (“GDIT”), it has been
selected by the U.S. Department of Veterans Affairs (“VA”) to
provide services under the VA’s new $2 billion Veterans Intake,
Conversion, and Communication Services (“VICCS”) program. Exela and
GDIT teamed to bid for the VICCS project and have been selected as
one of six recipients of an award from the VA. The contracts with
Exela and GDIT will have a maximum potential value of $900 million
over a 5-year term and represents the largest potential contract in
Exela’s history.
“Exela is honored to serve our Nation’s
Veterans,” said Suresh Yannamani, President, Exela Technologies.
“Our ongoing work with the VA is an important part of their digital
journey to address the benefit needs of Veterans and we look
forward to our continued partnership.”
This award promises to expand Exela’s current
role in assisting with Veterans’ benefits claims nationwide and is
the consequence of many years of investment by Exela in digital
healthcare technologies and services to help better serve our
Country’s Veterans. The award builds on an existing
relationship between Exela and GDIT, in which GDIT initially
selected Exela to assist with data intake and automated business
process solutions for a VA contract awarded in 2015 handling some
of the VA’s most challenging claims benefits tasks within the
department.
“We are pleased to work with Exela to implement
the solutions necessary to better service the VA through this
program,” said Kamal Narang, VP & General Manager, Federal
Health Sector, GDIT. “Our Nation’s Veterans deserve quicker
administration of benefits, using higher qualities of data, with an
increase in the overall insight into the benefits administration
programs.”
About Us Exela is a business process automation
(BPA) leader, leveraging a global footprint and proprietary
technology to provide digital transformation solutions enhancing
quality, productivity, and end-user experience. With decades of
expertise operating mission-critical processes, Exela serves a
growing roster of more than 4,000 customers throughout 50
countries, including over 60% of the Fortune® 100. With
foundational technologies spanning information management, workflow
automation, and integrated communications, Exela’s software and
services include multi-industry department solution suites
addressing finance and accounting, human capital management, and
legal management, as well as industry-specific solutions for
banking, healthcare, insurance, and public sectors. Through
cloud-enabled platforms, built on a configurable stack of
automation modules, and over 22,000 employees operating in 23
countries, Exela rapidly deploys integrated technology and
operations as an end-to-end digital journey partner.
Forward-Looking Statements: Certain statements
included in this press release are not historical facts but are
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Forward-looking statements generally are accompanied by words
such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”,
“believe”, “estimate”, “predict”, “potential”, “seem”, “seek”,
“continue”, “future”, “will”, “expect”, “outlook” or other similar
words, phrases or expressions. These forward-looking statements
include statements regarding our industry, future events, the
estimated or anticipated future results and benefits of the
Business Combination, future opportunities for the combined
company, and other statements that are not historical facts. These
statements are based on the current expectations of Exela
management and are not predictions of actual performance. These
statements are subject to a number of risks and uncertainties,
including without limitation those discussed under the heading
“Risk Factors” in Exela’s most recently filed Annual Report on
Form-10-K filed with the Securities and Exchange Commission. In
addition, forward-looking statements provide Exela’s expectations,
plans or forecasts of future events and views as of the date of
this communication. Exela anticipates that subsequent events and
developments will cause Exela’s assessments to change. These
forward-looking statements should not be relied upon as
representing Exela’s assessments as of any date subsequent to the
date of this press release.
Find out more at www.exelatech.com Follow Exela on LinkedIn
https://www.linkedin.com/company/exela-technologies/ Follow Exela
on Twitter: https://twitter.com/exelatech
Contact: Will MainaE:
IR@exelatech.comT: 646-277-1236
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