Exela Technologies and General Dynamics Awarded Contract Task Order by U.S. Department of Veterans Affairs
September 15 2020 - 8:00AM
Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA) today announced
that, together with General Dynamics Information Technology
(“GDIT”), it has been selected by the U.S. Department of Veterans
Affairs (“VA”) to provide services under the VA’s Veterans Intake,
Conversion, and Communication Services (“VICCS”) program for a
specific five-year task order, named File Conversion Service
("FCS"). The VA selected six contractors for a $2 billion umbrella
contract award and Exela and GDIT have been selected to serve the
VA under the FCS task order that constitutes a portion of that
contract award. This new FCS program has a potential value of
nearly $188 million that commences for Exela in the coming fourth
quarter 2020, and thereafter over a five-year term.
“Exela is honored to be selected by the VA and GDIT to serve our
nation’s veterans,” said Suresh Yannamani, President, Exela
Technologies. “We look forward to our continued participation in
the VA’s plans to transform benefits management and services.”
This award continues 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. Further, the award continues to build on
an existing teaming agreement relationship between Exela and GDIT.
Exela and GDIT have worked together for 6 years and have executed
as many as six task order awards and sub-awards.
“The VA continues to enhance and optimize the Veterans Benefits
Management System (VBMS), a claims processing system that greatly
reduces the time required to establish, develop, decide, and pay
claims,” according to the VA’s published statements regarding the
task order.
About Exela TechnologiesExela 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 experience 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 the public sector. Through
cloud-enabled platforms, built on a configurable stack of
automation modules, and over 21,000 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
Media Contact: Kevin
McLaughlinE: kevin.mclaughlin@icrinc.com
T: 646-277-1234
Investor Contact: William
MainaE: IR@exelatech.com T:
646-277-1236
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