Exela Technologies Announces New Digital Mailroom and Fulfillment Customer

IRVING, Texas, Oct 04, 2022 -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), today announced that it has contracted with a leading healthcare technology company to implement Exela’s Digital Mailroom (“DMR”), the critical content intake component of the PCH Global Healthcare Ecosystem. Additionally, Exela will implement a unique fulfillment solution supporting employee COVID-19 testing. This contract falls under the Healthcare Solutions business which generated over $220 million in revenue over the trailing 12 months.

With expertise in process automation and artificial intelligence, the customer recognized Exela as a company that successfully applies the same expertise in its DMR solution, digitizing and securely distributing inbound mail. Further, when faced with an immediate need to ensure employee safety through a COVID-19 testing program, the customer turned to Exela’s expertise in inventory management and distribution. In addition to business continuity, DMR provides a substantial opportunity for cost savings and efficiency gains

“We are noticing an uptake in DMR as customers optimize workflows in a fluid work from home and office environment. COVID-19 has presented an unfortunate, but unique opportunity to showcase Exela’s ingenuity in solving problems throughout this dynamically evolving environment. We are proud to have been selected, further validating our expertise and client recognition of the breadth and flexibility of our services,” said Suresh Yannamani, Chief Executive Officer, Exela Technologies BPA.

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About Exela Technologies

Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 17,000 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner

Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.

Investor and/or Media Contacts:

Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin
E: IR@exelatech.com