Lockheed Martin Completes Acquisition Of QTC Holdings Inc.
BETHESDA, Md., September 27, 2011 --
Lockheed Martin Corporation [NYSE: LMT] has completed its acquisition of QTC Holdings Inc. The company, based in Diamond Bar, Calif., is the largest provider of outsourced medical evaluation services to the U.S. Department of Veterans Affairs (VA), processing more than 450,000 evaluations last year.
Founded in 1981, QTC provides IT-enabled case management services and health care expertise to the Department of Defense, the VA and other U.S. government agencies. The acquisition was originally announced on August 22, 2011. Terms of the transaction were not disclosed.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2010 sales from continuing operations were $45.8 billion.