Welcome to our dedicated page for Exela Technologies news (Ticker: XELA), a resource for investors and traders seeking the latest updates and insights on Exela Technologies stock.
Exela Technologies, Inc. (XELA) is frequently in the news as a business process automation and outsourcing company that reports on strategic initiatives, partnerships, contracts, and capital markets developments. Its disclosures emphasize digital transformation, workflow automation, and enterprise information management for customers across banking, healthcare, insurance, manufacturing, and the public sector.
News about Exela often covers financial results and investor communications, including quarterly earnings releases, segment performance for areas such as Information and Transaction Processing Solutions, Healthcare Solutions, and Legal & Loss Prevention Services, as well as conference call announcements for the financial community. These updates provide context on revenue trends, margins, operating results, and the company’s use of non‑GAAP metrics like Adjusted EBITDA.
Another recurring theme in Exela’s news is strategic partnerships and alliances. Recent announcements describe a partnership between its Finance and Accounting Outsourcing business unit and recruitment firm Michael Page to expand Exela’s Center of Excellence using models such as Build‑Operate‑Transfer, captive arrangements, and Business Processes as a Service. Exela has also highlighted a strategic alliance with Aidéo Technologies to integrate AI‑powered autonomous medical coding into its PCH Global healthcare platform, and collaboration through its Reaktr business unit to launch the SecAi AI‑powered cybersecurity service on Oracle Cloud Infrastructure.
Exela’s news flow also includes contract wins and cybersecurity‑related work, such as a disclosed short‑term security breach remediation contract valued at over $35 million, and updates on its breach remediation and cybersecurity offerings under the Reaktr.ai and Rust Consulting brands. In addition, the company issues releases on corporate and capital markets actions, including reminders for annual stockholder meetings, discussion of a potential spin‑off of Exela Technologies BPA, LLC, and announcements regarding its listing status, Nasdaq suspension, and subsequent trading of its securities on the OTC Markets system.
Investors and observers following XELA news can use this page to review how Exela communicates about its operations, partnerships, financial performance, and regulatory and listing developments over time.
Exela Technologies (NASDAQ: XELA) announced a partnership with a national leader in post-acute healthcare focused on home healthcare and personal care as of January 21, 2022. This collaboration will enhance PCH Global's capabilities in data aggregation and reporting, facilitating access to high-quality care for patients. The PCH Global platform aims for improved claim resolution, payment transparency, and digital appeals, supported by a scalable cloud network with high uptime. The partnership highlights Exela's expertise in addressing complex healthcare needs.
Exela Technologies has announced an expansion of its contract with a major global bank, enhancing services to include foreign payment processing. This new offering is part of Exela's XBP platform and involves sophisticated payment security. The bank has confidence in Exela's international payment solutions, reflecting the company's continuous growth in payment processing across global banks.
Exela Technologies (NASDAQ: XELA) has expanded its partnership with a leading technology services provider, focusing on Medicaid programs with an initial value exceeding $2.5 million. This collaboration enhances the PCH Global platform, promoting payment integrity and revenue cycle management. The platform aims to ensure clean claims and reduce retrospective collections, with improved data analytics and cloud-hosted solutions. This expansion underscores Exela's commitment to delivering effective healthcare solutions and building healthier communities nationwide.
Exela Technologies has expanded its partnership with Mastercard in the EMEA region, focusing on automating Giro payments in Norway via its XBP platform. The initiative aims to enhance processing efficiency for over 11 million Giro payments using advanced optical/intelligent character recognition and automated signature verification. Exela's president for EMEA, Vitalie Robu, expressed pride in continuing this collaboration, highlighting its significance in the Norwegian market as part of Exela's global rollout of the XBP solution.
Exela Technologies (NASDAQ: XELA) announced a significant expansion with a leading health insurance organization, reinforcing a two-decade relationship. The latest expansion is valued at $6.2 million and focuses on enhancing the PCH Global platform to support digital transformation in healthcare. This upgrade aims to optimize the member and provider experience through improved data analytics and scalability, ultimately promoting transparency in claims processing. The company's commitment to this partnership reflects its ongoing investment in healthcare technology and customer-centric solutions.
Exela Technologies (NASDAQ: XELA) reported significant growth in its Digital Mailroom (DMR) and DrySign® services, with DMR customer growth at 44% and DrySign user growth soaring to 135% compared to the prior quarter. The company is expanding its DrySign services into France and Germany in Q1 2022. Additionally, Exela launched Remote Online Notarization (RON), further integrating it with DMR and DrySign. President Suresh Yannamani expressed optimism about continued growth trends as remote operations become more prevalent.
Exela Technologies has released its 'End of Year Update – FY2021' on its investor relations website, highlighting key achievements from 2021. The company will provide a comprehensive earnings report in March 2022. Exela serves over 4,000 customers across 50 countries, including more than 60% of the Fortune 100. The firm specializes in business process automation, leveraging proprietary technology to enhance operational efficiency and customer experience.
Exela Technologies (NASDAQ: XELA) has secured a $2 million contract with a prominent US-based property insurance firm to utilize its Intelligent Document Processing (IDP). This partnership aims to assist the client in its digital transformation by digitizing tens of millions of legacy files. Exela's President, Suresh Yannamani, expressed enthusiasm for continuing the long-standing relationship, emphasizing their commitment to accelerating digital journeys. This contract marks a significant step in enhancing Exela's service offerings.
Exela Technologies (NASDAQ: XELA) announced an expansion of its partnership with a major managed care corporation, enhancing PCH Global Cloud services for Medicaid return mail management. The relationship, ongoing since 2014, is valued at over $7 million annually. The expansion aims to improve claims processing and overall efficiency in the healthcare industry, leveraging PCH Global's capabilities for better payment transparency and digital appeals. Exela is committed to investing in advanced data analytics and cloud solutions as part of this initiative.
Exela Technologies has renewed a three-year contract with a leading insurer for its payment processing services, with an expected value of $3.5 million. This contract reaffirms a partnership lasting over 11 years, showcasing Exela's commitment to customer satisfaction and business efficiency. The company’s Transaction Management Services platform, alongside its BPA solutions, is aimed at expediting payments and enhancing customer experience. Despite the challenges posed by the pandemic, Exela remains focused on aiding clients in their digital transformation journeys.
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