Lockheed makes a health IT acquisition
Company picks up outsourcing firm with a strong VA business
- By David Hubler
- Aug 23, 2011
Lockheed Martin Corp. is acquiring QTC Holdings Inc., a provider of outsourced medical evaluation services to the government. Terms of the definitive agreement were not disclosed.
QTC, of Diamond Bar, Calif., is the largest provider of outsourced medical evaluation services to the federal government and the Veterans Affairs Department, processing more than 450,000 evaluations last year, according to a Aug. 22 Lockheed announcement.
QTC’s IT-enabled case management services and health care expertise complement Lockheed’s core capabilities in addressing the needs of the Defense Department, the VA and other government agencies, Lockheed Martin Chairman and CEO Bob Stevens said in the announcement.
“QTC aligns with our IT expertise and adjacent market growth strategy and will be a natural fit within our Information Systems & Global Solutions business,” he added.
The transaction is expected to close before the end of this year and is subject to government approvals, including a review under the Hart-Scott-Rodino Antitrust Improvements Act and satisfaction of other closing conditions, Lockheed Martin said.
Lockheed Martin, of Bethesda, Md., ranks No. 1 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.