Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that one of its affiliates has entered into a definitive agreement to acquire a majority stake in Global Healthcare Exchange (“GHX” or “the Company”), a leading supply chain software platform powering mission-critical connectivity between healthcare providers and suppliers. Veritas will join existing GHX shareholders Temasek and Warburg Pincus to support the acceleration of the Company’s growth strategy.

GHX was built to connect healthcare providers and suppliers, helping to ensure that the right products are delivered to the right place at the right time. Healthcare supply chains have become more costly, operationally complex, and inefficient, limiting the ability of providers and suppliers alike to derive actionable insights from the data created at every touchpoint. GHX addresses these inefficiencies through one seamless platform that digitizes and automates highly complex, dynamic healthcare supply chain processes, and it continues to innovate alongside customers to deliver meaningful value. Today, GHX’s solutions are more essential than ever, enhancing supply chain resiliency, reducing waste, and ultimately improving delivery of patient care.

GHX serves Gartner’s top 25 U.S. healthcare systems and the top 30 medical-surgical suppliers globally among its extensive network of customers. Through its cloud-based solutions, AI-driven automation, and intelligent decision support capabilities, GHX has delivered over $27 billion of savings in the last three years alone, in addition to supporting its customers’ efforts to enable better clinical care.

Veritas’ investment will accelerate GHX’s vision of creating a more efficient, resilient, and interconnected system. Through its innovative platform, the Company brings together the industry’s largest unified data core, spanning product, vendor, transactional, clinical and operational domains. With accelerated AI investments, GHX will be positioned to help organizations leverage their data to simplify workflows, generate actionable insights, automate decision-making, and ultimately improve delivery of care.

“This investment enables us to move faster and think bigger about building a more resilient, AI-enabled supply chain,” said Tina Vatanka Murphy, President and CEO of GHX. “Veritas recognizes our unique role in facilitating better, more affordable patient care, and they bring deep experience scaling healthcare technology companies that matter. This partnership will help us further invest in product innovation, pursue both organic and inorganic growth, and amplify our AI-powered supply chain strategy. It is a strong affirmation of our strategy, our people and the opportunity ahead.”

“We have long admired the vital role GHX plays in lowering the cost of care and enabling resilient supply chains,” said Ramzi Musallam, CEO and Managing Partner of Veritas Capital. “We see many parallels between GHX and prior scaled healthcare technology investments by Veritas at the intersection of mission-critical data and real-time decision making. We look forward to leveraging these experiences to support Tina and her team on their journey to reimagine the healthcare supply chain, with an overarching common goal of driving better patient outcomes.”

Ravi Lambah, Head, Strategic Initiatives at Temasek, added, “Since 2017, we have supported GHX through key phases of transformation, strengthening its position as a leading integrated, data‑driven platform. Veritas’ acquisition of a majority stake extends the strong partnership we have had with Warburg Pincus and supports the next stage of GHX’s growth. This is aligned with our conviction that digitization underpins stronger and more resilient healthcare supply chains.”

“Our conviction in GHX and the value of our partnership is as strong as ever, and Veritas’ investment is a further confirmation of the enduring value that GHX provides across the healthcare industry,” said Adam Krainson, Managing Director at Warburg Pincus. “We are pleased to continue our work with the Company to help expand its reach, serving customers around the world.”

The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approvals. Financial terms were not disclosed.

Evercore served as financial advisor to GHX. Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to GHX and Temasek. Gibson, Dunn & Crutcher LLP is acting as legal counsel to Veritas. Kirkland & Ellis LLP is acting as legal counsel to Warburg Pincus.

About GHX

Global Healthcare Exchange (GHX) is reimagining how healthcare works by powering a more intelligent, resilient, and connected supply chain. Through AI-driven automation, cloud-based solutions, and intelligent decision support, GHX helps healthcare organizations increase operational agility, reduce unnecessary spend, and improve outcomes. For more than 25 years, GHX has been a trusted partner across the healthcare ecosystem—from providers and suppliers to distributors and government agencies—working to remove billions in waste and strengthen the economic foundation of care delivery. Learn more about GHX’s platform and insights at www.ghx.com.

About Veritas Capital

Veritas is a longstanding technology investor with over $54 billion of assets under management and a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to the firm. Veritas is a proud steward of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies. For more information, visit www.veritascapital.com.

About Temasek

Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$434 billion (US$324b) as at 31 March 2025. Its Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations. Temasek seeks to build a resilient and forward-looking portfolio that will deliver sustainable returns over the long term. It has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia. For more information on Temasek, please visit www.temasek.com.sg.

About Warburg Pincus

Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $85 billion in assets under management, and more than 215 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

The firm is headquartered in New York with more than 15 offices globally. For more information, please visit www.warburgpincus.com.

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