TechTaffy

tech:

taffy

Veritas acquiring GE Healthcare technology unit for $1 billion

By TechTaffy Desk

Private equity investment firm Veritas Capital has entered into a definitive agreement with GE to acquire the enterprise financial management, ambulatory care management, and workforce management (formerly API Healthcare) assets comprising GE Healthcare’s value-based care division for $1.05 billion in cash.

The transaction is expected to close during the third quarter of 2018, subject to customary closing conditions and regulatory approvals.

Morgan Stanley and Keval Health are acting as financial advisors to GE in the transaction. Goldman Sachs and William Blair are acting as financial advisors. Schulte Roth & Zabel  is serving as legal counsel to Veritas Capital in the transaction.

GE Healthcare is the $19 billion healthcare business of GE.

[Image courtesy: GE Healthcare]

Just in

AI

Generative AI arrives in the gene editing world of CRISPR — NYT

New AI technology is generating blueprints for microscopic biological mechanisms that can edit your DNA, pointing to a future when scientists can battle illness and diseases with even greater precision and speed than they can today, writes Cade Metz.
AI

Estée Lauder, Microsoft to build AI Innovation Lab

The Estée Lauder Companies (ELC) and Microsoft Corp. announced the creation of an AI Innovation Lab to expand their global strategic relationship.
Around the web

Mark Zuckerberg says Meta will offer its virtual reality OS to hardware companies, creating iPhone versus Android dynamic — CNBC

Meta will partner with external hardware companies, including Lenovo, Microsoft and Asus, to build virtual reality headsets using the company’s Meta Horizon operating system, writes Kif Leswing. 
IT

Nvidia to acquire Run:ai

Nvidia announced an agreement to acquire Run:ai, a provider of Kubernetes-based workload management and orchestration software.
Around the web

Windows 11 Start menu ads are now rolling out to everyone — The Verge

Microsoft is starting to enable ads inside the Start menu on Windows 11 for all users, writes Tom Warren.