Lockheed Martin's acquisition to expand health IT reach

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Bethesda, Md.-based Lockheed Martin has entered in to a definitive agreement to acquire QTC Holdings. Terms and conditions of the agreement were not disclosed.

Diamond Bar, Calif.-based QTC develops outsourced medical evaluation services to the U.S. government and the U.S. Department of Veterans Affairs (VA), processing more than 450,000 evaluations in 2010.

QTC's IT-enabled case management services and healthcare experience will complement Lockheed's capabilities in addressing the needs of the Department of Defense, VA and other government agencies, Lockheed Martin's Chair and CEO Bob Stevens said in a statement.

QTC will become a part of Lockheed Martin's Information Systems & Global Solutions business. The transaction is anticipated to close before the end of the year and is subject to government approvals, including review under the Hart-Scott-Rodino Antitrust Improvements Act and satisfaction of other closing conditions. It is not expected to have a material effect on Lockheed Martin.