Press Release

CareSource Partnership with Exela Technologies Drives 100 New Ohio Jobs

October 28th, 2021 | 5 min read

(Dayton, OH – October 28, 2021) – CareSource, a nationally recognized nonprofit managed care organization, celebrates the growth of its partnership with Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a global business process automation leader that has resulted in the creation of 100 new jobs in Dayton, with the potential for hundreds more.

Today CareSource held a welcome event for Exela leaders who announced their intention to bring more jobs to the area with the potential for Dayton to become a talent hub for the Texas-headquartered company. Ohio Governor Mike DeWine attended the event and extended his welcome to Exela.

“I am confident that like CareSource, Exela will find well-qualified Ohioans ready and able to join their team,” said Governor DeWine. “We look forward to Exela growing their business in the Dayton region, it’s a win for them and a win for Ohioans.”

CareSource selected Exela as a vendor partner to support automation efforts. Exela’s technology enablement platform drives CareSource’s member engagement, provider engagement and payment timeliness and accuracy. Exela’s platform helps CareSource continue to build on its position of being an industry leader in operational efficiency.

As part of CareSource’s agreement with Exela, CareSource saw an opportunity to support downtown Dayton growth and bring jobs to the city. As the partnership was defined, CareSource worked with Exela to locate the project team in Dayton. Exela quickly learned that downtown Dayton is a favorable place to build an employee base and is working to create more jobs in the city and build out a business hub in Dayton.

“CareSource is a huge champion of Dayton and we are proud to be headquartered here,” said Erhardt Preitauer, President & CEO, CareSource. “As part of our commitment to Ohio, we continue to look for opportunities to encourage our partners to take advantage of the positive business climate here and support job creation in Dayton. We appreciate Exela’s partnership both in enabling our business growth and supporting our hometown.”

“We were pleased to be part of an event to announce our new partnership and we look forward to working closer with CareSource, the city of Dayton and the State of Ohio over the next few years” said Exela’s president, Suresh Yannamani “This is a great example of a public-private partnership that is built for success.”

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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 over 18,000 employees operating in 23 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.

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