Emdeon Business Services to Change Healthcare
The HLTH Corp. recently sold a 48 percent stake in emdeon business services, a business unit that generates $78,660 in annual revenue. The company will now rebrand itself as Change Healthcare. The deal is expected to close soon. This is a great deal for health care providers.
HLTH Corp. sells 48-percent stake in emdeon business services
General Atlantic has acquired a 52 percent stake in Emdeon Business Services for $1.2 billion. After the sale, the company changed its name to HLTH Corp. to differentiate itself from its former name. The company provides revenue cycle and clinical communication solutions for healthcare providers and payers. It also offers patient information.
In May 2007, HLTH Corp., which was formerly known as Emdeon Corp., sold its remaining 48 percent stake in Emdeon Business Services to General Atlantic for $575 million. The sale was made to raise capital for a merger with WebMD. The company has currently raised more than $1.45 billion in cash and has $364 million in auction rate securities backed by federally guaranteed student loans.
The deal is expected to close in the second or third quarter. HLTH has reported that it earned about 19 cents per share in its second quarter, with a 10 cents-per-share benefit from the sale of its Emdeon Business Services business. The company also reported revenue of $143.2 million, which beat analysts’ expectations by two cents a share.
Emdeon is a provider of revenue cycle management and clinical communication solutions. It helps payers and healthcare providers improve their processes and improve patient care. It also owns Porex, a developer and distributor of porous plastic products.
emdeon business services generates $78,660 in annual revenues
Emdeon Business Services LLC is a company that specializes in revenue cycle management solutions, clinical information exchange solutions, and web-based physician business processes. It also provides hospital and payer clients with payment integrity services and consulting services. The company has been in business for five years and generates $78,660 in annual revenues. It employs three people at its single location.
Emdeon, a provider of revenue-generating solutions for the healthcare industry, recently announced the sale of a minority stake in the company to General Atlantic LLC and Hellman & Friedman LCC. The sale came at a time when HLTH has been unable to move forward with plans to acquire WebMD, a subsidiary of the company. The firm is selling a 48 percent stake to General Atlantic LLC and Hellman &friedman LCC, but the company’s plans to acquire a WebMD subsidiary have been on hold.
emdeon business services will rebrand as “Change Healthcare”
Emdeon business services will rebrand as “Change Healthcare” starting in the fourth quarter of this year. The company’s affiliated business units will align under the new name to provide healthcare businesses with technology-enabled services, software, and analytics. Its solutions focus on improving communication, payment, and workflow optimization across the healthcare industry.
Change Healthcare will provide clinical information exchange and revenue cycle management solutions for the healthcare industry. Its technology connects payers, providers, and patients. It operates the largest financial information exchange in the U.S., and is positioned to serve customers in both the public and private sectors.
The company was formerly known as Emdeon but changed its name to reflect the new company culture and mission. It offers technology solutions for hospitals, government payers, pharmacies, and labs. Its Emdeon Payment Manager platform helps hospitals improve remittance visibility and facilitate electronic transfers of payer funds.
Change Healthcare will provide health care providers and payers with software, network solutions, and technology enabled services. Its solutions enable the collaborative exchange of mission-critical information to maximize revenue opportunities, manage costs, and increase cash flow. Change Healthcare’s platform is built on an “Intelligent Healthcare Network” (IHN) that allows healthcare providers and payers to communicate with one another in a way that is consistent and efficient.