New York (HedgeCo.net) - Hedge fund giant Blackstone has completed its acquisition of Emdeon Inc, a healthcare revenue and payment cycle management provider, in a transaction valued at approximately $3.0 billion.
“We are excited to open a new chapter in the evolution of Emdeon. We are enthusiastic about our future as we continue to evolve our solutions to make healthcare more efficient,” said George Lazenby, chief executive officer for Emdeon. “We are also happy to be working with Blackstone and continuing our relationship with Hellman & Friedman, each of whom has a very strong understanding of our marketplace and a tremendous track record of success in partnering with companies and their management teams.”
The transaction was approved by Emdeon stockholders at a special meeting held November 1, 2011. Morgan Stanley acted as lead financial advisor and UBS Investment Bank acted as co-financial advisor to Emdeon’s Board of Directors.
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