Corporate Updates

SAIC Plans to Buy maxIT Healthcare

US computer contractor Science Applications International Corp plans to buy information technology consulting firm maxIT Healthcare Holdings in a cash deal worth almost $473 million.

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The Fortune 500 company wants to boost its consulting practice in electronic health records, SAIC said.

SAIC expects to pay up to $20 million to maxIT Healthcare shareholders after receiving certain tax refunds after the deal closes.

maxIT, which provides healthcare IT services primarily to commercial hospital groups and other medical delivery organisations, will be combined with SAIC’s Vitalize Consulting Solutions (VCS) team, it said.

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The deal is expected to close in August.

As part of the deal, around 1,300 employees from maxIT Healthcare will join SAIC’s health solutions business unit.

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