Gainwell Technology

History

2020: Veritas Capital creates Gainwell Technology company on basis DXC Technology

In the middle of September, 2020 the private investment company Veritas Capital purchased medical business DXC Technology (this group includes Luxoft) for $5 billion and reported that after closing of the transaction on October 1 on its basis the new company under the name Gainwell Technology will be created.

Veritas Capital also reported that the executive vice president and the chief financial officer DXC Technology Paul Saleh will undertake Gainwell Technology reins of government as the CEO. According to Veritas Capital, the name "Gainwell" (engl. "purchase wellbeing") confirms the aspiration of company executives to improve indicators of the population of health in the USA using the innovative technological solutions. The CEO and the managing partner of Veritas Capital Ramzi Musallam noted that that Veritas with pleasure welcomed new employees and expects from the command of new fulfillments in the field of health care.

The choice of the name reflects true vision of the new company. Its experience is credible, and extensive technological capabilities will help to get on feet in the form of separate company, it is already the leader in development, implementation and delivery of the innovative technologies, - Musallam noted.

The solution to select medical business in the separate independent company is connected with the fact that DXC Technology decided to refuse the three enterprises and to strengthen the financial position with emphasis on core business in the field of services.

Purchase of medical business by Veritas Capital company - not the only transaction DXC Technology. She also said that she is going to sell the business on production of the software for medical institutions of the Italian company Dedalus Group for $525 million^[1]

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