Exela Technologies, Inc. engages in the provision of transaction processing solutions and enterprise information management. It operates through the following segments: Information and Transaction Processing Solutions, Healthcare Solutions, and Legal & Loss Prevention Services. The Information and Transaction Processing Solutions segment provides industry-specific solutions for banking and financial services. The Healthcare Solutions segment offers revenue cycle solutions, integrated accounts payable and accounts receivable, and information management for both the healthcare payer and provider markets. The Legal & Loss Prevention Services segment includes processing of legal claims for class action and mass action settlement administrations, involving project management support, notification, and outreach to claimants; and collection, analysis, and distribution of settlement funds. The company was founded on July 15, 2014 and is headquartered in Irving, TX.
If we are unable to successfully consummate acquisitions or experience delays in integrating acquisitions, it could have a material adverse effect on our business, financial condition and results of operations.
Our revenue decreased $23.9 million, or 1.5%, to $1,562.3 million for the year ended December 31, 2019 compared to $1,586.2 million for the year ended December 31, 2018. This decrease is primarily related to a decrease in our ITPS segment revenues of $39.4 million and LLPS segment revenue of $13.2 million. The decrease was partially offset by an increase in revenues in the HS segment by $28.7 million. Our ITPS, HS, and LLPS segments constituted 79.0%, 16.4%, and 4.6% of our total revenue, respectively, for the year ended December 31, 2019, compared to 80.3%, 14.4%, and 5.3%, respectively, for the year ended December 31, 2018. The revenue changes by reporting segment were as follows:
ITPS—Revenues decreased $39.4 million, or 3.1%, to $1,234.3 million for the year ended December 31, 2019 compared to $1,273.6 million for the year ended December 31, 2018. The decrease was primarily attributable to the low
margin contract exit in the third quarter of 2018 and adverse currency impact that was offset partially by the revenue from acquisitions completed in 2018.