Emdeon has entered into a definitive agreement to acquire Change Healthcare, a market leader in healthcare consumer engagement and transparency, for approximately $135 million in cash payable at closing, plus additional contingent payments of up to $50 million based upon the attainment of financial performance objectives of the acquired business through the end of 2017. The purchase price will be paid with a combination of available cash and funds.
Emdeon is the largest financial, administrative and clinical health information network in the nation, processing more than seven billion transactions with a claims value of $1 trillion annually. Emdeon’s Intelligent Healthcare Network reaches 700,000 physicians, 81,000 dentists, 60,000 pharmacies, 5,000 hospitals, 600 vendors, 450 laboratories and 1,200 government and commercial payers.
Change Healthcare will enable Emdeon to offer its customers additional solutions that marry cost and quality information with a robust inventory of consumer behavioral insights. These solutions can help employees, health plan members and patients reduce costs and become better healthcare consumers.
“By combining our connectivity and scale with Change Healthcare’s transparency and personalization capabilities, we can help our customers further increase member and patient engagement and add even more value to the services they provide their customers,” said Neil de Crescenzo, Emdeon president and CEO.