Exela Technologies, Inc. (XELA) has seen an incline of 9.84% in the aftermarket without any specific news. However, the last trading session closed at $1.93 with an increase of 3.21%.
XELA Expands PCH Global Cloud Solution with Leading Healthcare Insurer
On 13th September 2021, XELA formed a partnership with one of the country’s major insurance companies. This growth demonstrates the Company’s capacity to quickly adopt PCH Global for claims filed by providers.
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This expansion of the PCH Global platform’s value proposal to digitally link members, providers, and insurance companies for clean claims, payment transparency, and digital appeals represents yet another milestone in the platform’s value proposition. This extension also adds to a $180 million Total Contract Value (TCV) connection that already exists.
Recognition as a Major Contender
XELA stated that it is the “Major Contender” in Everest Group’s PEAK Matrix on 2 September 2021. Exela is the ‘Major Contender’ in Everest Group’s study for the fourth year in a row. This evaluates service providers’ overall vision and capabilities, as well as market influence, in the finance and accounting outsourcing services business.
Exela’s output-driven commercial architecture, as well as its high degree of flexibility and customization as per client demands, make it an appealing partner for businesses with big volume swings, according to the research.
EXELA Announces Completion of $150 million At-the-Market Offering
XELA reported on 1st September 2021 that the Company’s $150 million at-the-market equity program has been completed.
As of August 31, 2021, the Company has an enhanced cash position of approximately $200 million. Moreover, XELA expects to maintain its approach of creating shareholder value through opportunistic debt repurchases to increase free cash flow generation.
XELA Named “Hot Vendor” by Aragon Research Inc.
On 12th August 2021, XELA revealed that its Smart Office Suite has been named one of the “Hot Vendors.” Digital Mail Room, Intelligent Document Processing, Smart Lockers, DrySign Digital Signature Platform, and Contactless Entry and Exit modules are among the next-generation solutions offered by Exela’s Smart Office Suite of products. Exela Smart Office provides visitors and workers in any workplace with a seamless user experience.