Exela Technologies Selected as a Potential Supplier for the UK’s National Health Service London Procurement Partnership

Rhea-AI Summary

Exela Technologies (NASDAQ: XELA) has been selected as a potential supplier by the UK's National Health Service London Procurement Partnership. This selection allows Exela to provide services, including bulk scanning, contact center support, and digital mailroom solutions, as part of a comprehensive four-year contract worth approximately £5 billion (~$7 billion). The contract aims to enhance healthcare efficiency and patient data access. Exela's President expressed pride in contributing to improved healthcare systems.

Positive

• Selected as a potential supplier for NHS London Procurement Partnership.
• Contract has a potential total value of £5 billion (~$7 billion).
• Opportunity to improve healthcare efficiency with digital solutions.

Negative

• None.

IRVING, Texas, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a global business process automation leader, has been selected by the UK’s National Health Service London Procurement Partnership as a potential supplier. 46 companies were chosen across a spectrum of services, while Exela was chosen for bulk scanning, contact center/help desk and digital mailroom. The Digital Document Solutions Framework is a four-year contract and has a potential total value of £5bn or ~$7bn across all suppliers.

“Every UK citizen can benefit from an improved healthcare system and we are excited to be part of this progress. We are proud to be chosen by the Procurement Partnership to provide our solutions. We look forward to the opportunity to work with an organization with a focus on improving speed and access to data in a secure manner,” noted President of Exela, Vitale Robu.

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About Exela Technologies

Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, with over 17,500 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.

Investor and/or Media Contacts:

Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com 

Mary Beth Benjamin
E: IR@exelatech.com 

FAQ

What services will Exela provide to the NHS London Procurement Partnership?

Exela will provide bulk scanning, contact center/help desk services, and digital mailroom solutions as part of the contract.

What is the total value of the contract awarded to Exela?

The contract has a potential total value of approximately £5 billion or ~$7 billion.

What is the significance of Exela being chosen by the NHS?

Being selected by the NHS positions Exela to enhance healthcare services and improve data access for UK citizens.

How long is the contract Exela has secured with the NHS?

The contract with the NHS is a four-year agreement.

What is the stock symbol for Exela Technologies?

The stock symbol for Exela Technologies is XELA for common shares and XELAW for warrants.