Contract adds a total of $15.6 million in revenue and highlights Exela’s innovative PCH Global solution

IRVING, Texas, Oct. 09, 2020 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA) today announced that it was selected by a leading health organization as a payment and explanation of benefits (EOB) processing partner. The contract is worth a total of $15.6 million for up to one year, beginning in Q4 2020.

The challenges brought about by COVID-19, and the changes it forced on the healthcare industry, helped Exela determine that there is a significant need for a system that combines payments and claims processing into a single, innovative solution. Through the implementation of PCH Global, Exela is able to offer a full-spectrum payments and claims processing platform, providing expected reduction in claim denials, faster processing of payments, and an improved customer experience. PCH Global leverages a distributed architecture to integrate