Science Applications International Corporation (SAIC), a McLean, Va.-based IT firm that specializes in healthcare and other solutions and services (Ranked 18 in the 2012 HCI 100) has announced it is splitting into two separate publicly-traded companies, both independent of each other. The spin-off, expected to occur in the latter half of next fiscal year, will lead to a technical services business and solutions-focused business.
The technical services business, SAIC estimates, will have revenue of $4 billion for the fiscal year ending Jan. 31, 2013, and focus on systems engineering and technical assistance, financial analysis and program office support. The solutions-focused business, estimated at $7 billion for the fiscal year ending Jan. 31, 2013, will work on science and technology solutions for national security, engineering and health.
SAIC, a noted government contractor, has made its investments in the health IT well-known. Recently, the company acquired maxIT Healthcare, a consulting firm, in a deal for an undisclosed amount. In 2011, it made other health IT-based acquisitions.
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