Exhibit 99.2

UNAUDITED PRO FORMA FINANCIAL INFORMATION

The unaudited pro forma consolidated balance sheet at June 30, 2010 and the unaudited pro forma consolidated statement of operations for the six months ended June 30, 2010 give effect to the acquisition of Chamberlin Edmonds Holdings, Inc. and Chamberlin Edmonds & Associates, Inc. (collectively “CEA”) and the related financing of this acquisition as if the acquisition had occurred on June 30, 2010 for the unaudited pro forma consolidated balance sheet and January 1, 2009 for the unaudited pro forma consolidated statement of operations.

The unaudited pro forma consolidated statement of operations for the year ended December 31, 2009 gives effect to (i) the conversion of EBS Equity Plan Member’s Grant Units into EBS Units and options to purchase shares of our Class A common stock, (ii) the conversion of the EBS Phantom Awards into Class A common stock, restricted stock units and options to purchase shares of our Class A common stock, (iii) our 2009 initial public offering (the “IPO”) and the use of proceeds from the IPO (collectively, the “Pro Forma Offering Adjustments”), (iv) the acquisition of eRx Network LLC (“eRx”) and (v) the acquisition of CEA and the related financing of this acquisition as if each had occurred on January 1, 2009. The unaudited pro forma financial information has been prepared by our management and is based on our historical financial statements and the assumptions and adjustments described herein and in the notes to the unaudited pro forma financial information below. The presentation of the unaudited pro forma financial information is prepared in conformity with Article 11 of Regulation S-X.

The historical financial information of Emdeon Inc. (the “Company”) for the year ended December 31, 2009 and six months ended June 30, 2010 has been derived from the audited and unaudited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009 and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2010, respectively. The historical financial information of CEA for the year ended December 31, 2009 and the six months ended June 30, 2010 has been derived from the audited and unaudited consolidated financial statements of CEA and the accompanying notes included in this Current Report on Form 8-K/A. The historical financial information of eRx for the six months ended June 30, 2009 has been derived from the unaudited consolidated financial statements of eRx and the accompanying notes included in our Current Report on Form 8-K dated September 11, 2009.

We based the pro forma adjustments on available information and on assumptions that we believe are reasonable under the circumstances. See “— Notes to Unaudited Pro Forma Financial Information” for a discussion of assumptions made. The unaudited pro forma financial information is presented for informational purposes and is based on management’s estimates. The unaudited pro forma consolidated statements of operations do not purport to represent what our results of operations actually would have been if the transactions set forth above had occurred on the dates indicated or what our results of operations will be for future periods.

The foregoing financial information should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2009 and 2010 Quarterly Reports on Form 10-Q, including capitalized terms not otherwise defined herein.

(amounts in thousands, except share and per share amounts)

						CEA				CEA Pro Forma								Pro Forma
		Actual(1)				Historical(2)				Adjustments				Notes				Consolidated
Assets
Current assets:
										$	97,764				(3	)
											(209,522	)			(4	)
Cash and cash equivalents		$	216,469			$	2,794				(44,804	)			(5	)		$	62,701
Accounts receivable, net of allowance for doubtful accounts			156,906				14,402				—								171,308
Deferred income tax assets			4,237				—				689				(14	)			4,926
Prepaid expenses and other current assets			14,910				16,240				(15,206	)			(6	)			15,944
Total current assets			392,522				33,436				(171,079	)							254,879
Property and equipment, net			189,738				4,369				19,368				(7	)			213,475
Goodwill			739,773				81,772				97,194				(8	)			918,739
Intangible assets, net			977,208				30,513				46,617				(9	)			1,054,338
											236				(3	)
Other assets, net			4,332				928				(825	)			(10	)			4,671
Total assets		$	2,303,573			$	151,018			$	(8,489	)						$	2,446,102
Liabilities and equity
Current liabilities:
Accounts payable		$	9,161			$	854			$	—							$	10,015
											8,976				(11	)
Accrued expenses			83,117				8,000				(9,654	)			(5	)			90,439
Deferred income tax liabilities			—				4,968				(4,968	)			(14	)			—
Deferred revenues			10,963				—				—								10,963
											1,000				(3	)
Current portion of long-term debt			10,905				2,850				(2,850	)			(5	)			11,905
Total current liabilities			114,146				16,672				(7,496	)							123,322
											97,000				(3	)
Long-term debt excluding current portion			838,542				32,300				(32,300	)			(5	)			935,542
Deferred income tax liabilities			152,722				12,548				23,129				(14	)			188,399
Tax receivable agreement obligations due to related parties			140,704				—				—								140,704
Other long-term liabilities			43,379				952				(276	)			(12	)			44,055
Commitments and contingencies
Equity
Preferred stock (par value $0.00001), 25,000,000 shares authorized and 0 shares issued and outstanding			—				—				—								—
Class A common stock, (par value, $0.00001), 400,000,000 shares authorized and 90,861,910 shares outstanding			1				1				(1	)			(13	)			1
Class B convertible common stock, (par value, $0.00001), 52,000,000 shares authorized and 24,689,142 shares outstanding			—				—				—								—
Contingent consideration			2,667				—				—								2,667
Additional paid-in capital			741,295				76,451				(76,451	)			(13	)			741,295
Accumulated other comprehensive loss			(6,116	)			—				—								(6,116	)
Retained earnings			39,822				11,992				(11,992	)			(13	)			39,822
Emdeon Inc. shareholders’ equity			777,669				88,444				(88,444	)							777,669
Noncontrolling interest			236,411				102				(102	)			(13	)			236,411
Total equity			1,014,080				88,546				(88,546	)							1,014,080
Total liabilities and equity		$	2,303,573			$	151,018			$	(8,489	)						$	2,446,102

See accompanying notes to unaudited pro forma financial information.

(amounts in thousands, except share and per share amounts)

		For the Six Months Ended June 30, 2010
										CEA Pro
						CEA				Forma(15)								Pro Forma
		Actual(1)				Historical(2)				Adjustments				Notes				Consolidated
Revenue		$	480,568			$	46,254			$	(187	)			(a	)		$	526,635
Costs and expenses:
											8,388				(b	)
											381				(c	)
Cost of operations (exclusive of depreciation and amortization below)			292,430				17,637				(176	)			(a	)			318,660
Development and engineering			17,248				—				295				(b	)			17,543
Sales, marketing, general and administrative			52,362				16,981				(8,683	)			(b	)			60,660
Depreciation and amortization			57,053				2,432				2,701				(d	)			62,186
Total costs and expenses			419,093				37,050				2,906								459,049
Operating income			61,475				9,204				(3,093	)							67,586
Interest income			(8	)			—				—								(8	)
Interest expense			31,584				2,244				406				(e	)			34,234
Other			(1,770	)			—				—								(1,770	)
Income before income taxes			31,669				6,960				(3,499	)							35,130
Income tax provision			20,152				2,658				(1,276	)			(f	)			21,534
Net income			11,517				4,302				(2,223	)							13,596
Net income attributable to noncontrolling interest			5,399				1				379				(g	)			5,779
Net income attributable to Emdeon Inc.		$	6,118			$	4,301			$	(2,602	)						$	7,817
Net income per share Class A common stock:
Basic		$	0.07															$	0.09
Diluted		$	0.07															$	0.09
Weighted average common shares and equivalents
Basic			88,879,916																88,879,916
Diluted			90,648,401																90,648,401

See accompanying notes to unaudited pro forma financial information.

(amounts in thousands, except share and per share amounts)

For the Year Ended December 31, 2009

						Pro Forma
						Offering								Pro Forma				eRx				Pro Forma eRx								Pro Forma				CEA				Pro Forma CEA								Pro Forma
		Actual(1)(20)				Adjustments(16)				Notes				Offering				Historical(17)				Adjustments(18)				Notes				Offering and eRx				Historical(2)				Adjustments(19)				Notes				Consolidated
Revenues		$	918,448			$	—							$	918,448			$	16,697			$	—							$	935,145				78,828				(393	)			(a	)		$	1,013,580
Costs and expenses:
																																							16,586				(b	)
																																							(1,054	)			(c	)
Cost of operations			560,393				930				(a	)			561,323				8,094				—								569,417				29,952				(394	)			(a	)			614,507
Development and engineering			32,978				357				(a	)			33,335				1,711				—								35,046				—				558				(b	)			35,604
Sales, marketing, general and administrative			108,336				2,016				(a	)			110,352				3,095				—								113,447				31,500				(17,144	)			(b	)			127,803
Depreciation and amortization			105,321				—								105,321				509				1,334				(a	)			107,164				4,939				5,327				(d	)			117,430
Loss on abandonment of leased properties			1,675				—								1,675				—				—								1,675				—				—								1,675
Total costs and expenses			808,703				3,303								812,006				13,409				1,334								826,749				66,391				3,879								897,019
Operating income			109,745				(3,303	)							106,442				3,288				(1,334	)							108,396				12,437				(4,272	)							116,561
Interest income			(75	)			—								(75	)			(2	)			—								(77	)			—				—								(77	)
Interest expense			70,246				—								70,246				7				—								70,253				4,541				697				(e	)			75,491
Other income			(519	)			—								(519	)			—				—								(519	)			—				—								(519	)
Income (loss) before income taxes			40,093				(3,303	)							36,790				3,283				(1,334	)							38,739				7,896				(4,969	)							41,666
Income tax provision (benefit)			20,523				(1,240	)			(b	)			19,283				52				715				(b	)			20,050				1,731				(1,812	)			(f	)			19,969
Net income (loss)			19,570				(2,063	)							17,507				3,231				(2,049	)							18,689				6,165				(3,157	)							21,697
Net income (loss) attributable to noncontrolling interest			6,295				(916	)			(c	)			5,379				40				399				(c	)			5,818				—				647				(g	)			6,465
Net income (loss) attributable to Emdeon Inc.		$	13,275			$	(1,147	)						$	12,128			$	3,191			$	(2,448	)						$	12,871			$	6,165			$	(3,804	)						$	15,232
Net income per share Class A common stock:
Basic		$	0.16											$	0.15															$	0.15															$	0.18
Diluted		$	0.16											$	0.14															$	0.15															$	0.18
Weighted average common shares and equivalents outstanding:
Basic			82,459,169												82,459,169																83,584,374																83,584,374
Diluted			82,525,002												82,525,002																83,650,207																83,650,207

See accompanying notes to unaudited pro forma financial information.

Pro Forma Adjustments ($ in thousands)

(1) The amounts in this column represent our actual results for the date or periods reflected.

(2) The amounts in this column represent CEA’s actual results for the date or periods reflected.

(3) Represents net cash proceeds of $97,764, loan costs of $236 and discount and fees totaling $2,000 related to a $100,000 incremental term loan borrowing under the Company’s First Lien Credit Agreement.

(4) Represents consideration transferred to the former stockholders of CEA or their representatives in connection with the acquisition of CEA by the Company.

(5) Represents the payment of a CEA note payable of $35,150 and other obligations assumed at closing of $9,654 that were required to be paid under the terms of the CEA merger agreement.

(6) Represents an adjustment to conform CEA’s accounting policy for the deferral of costs to the Company’s policy of expensing such costs as incurred.

(7) Represents the adjustment to the carrying value of property and equipment of CEA to reflect fair values as follows:

Developed technology			21,520
Fair value of other CEA property and equipment, net			2,217
Purchase accounting adjustment			23,737
Less: historical CEA property and equipment, net			(4,369	)
Pro Forma adjustment		$	19,368

This adjustment is based upon a valuation of tangible and intangible assets that is preliminary in nature and subject to change upon the receipt of a final valuation.

(8) Represents an adjustment to record goodwill derived from the difference in the fair values of the consideration transferred and net assets acquired as follows:

Consideration transferred		$	209,522
Less: net assets acquired			(30,556	)
Total goodwill acquired			178,966
Less: historical CEA goodwill			(81,772	)
Pro Forma adjustment		$	97,194

This adjustment is based upon a valuation of tangible and intangible assets that is preliminary in nature and subject to change upon the receipt of a final valuation and the outcome of a working capital settlement.

(9) Represents an adjustment to record the fair value of intangible assets acquired as follows:

Customer List		$	72,180
Non-compete agreements			1,330
Trade Name			3,620
Total intangible assets acquired			77,130
Less: historical CEA intangible assets			(30,513	)
Pro Forma adjustment		$	46,617

This adjustment is based upon a valuation of tangible and intangible assets that is preliminary in nature and subject to change upon the receipt of a final valuation.

(10) Represents an adjustment to eliminate historical CEA deferred loan costs.

(11) Represents an adjustment to record accrued transaction costs arising in connection with the acquisition of CEA by the Company that were contingent upon the closing of the acquisition. Such amounts have been excluded from the pro forma consolidated statements of operations as the items are non recurring in nature and directly attributable to the transaction.

(12) Represents an adjustment to eliminate historical CEA deferred rent liabilities.

(13) Represents elimination of CEA’s common stock, paid-in capital, noncontrolling interest and retained earnings as the of date of acquisition.

(14) Represents an adjustment to deferred tax balances to reflect the allocation of the consideration transferred.

(e)

Represents interest expense (including amortization of loan costs and discount) related to the Company’s $100,000 incremental term loan borrowing under the Company’s First Lien Credit Agreement as if the borrowing (and the repayment of the CEA existing debt) occurred on January 1, 2009 as follows:

		Six Months
		Ended June 30,
		2010
Interest related to incremental term loan borrowing			2,225
Amortization of debt discount and deferred loan costs			358
			2,583
Less: historical CEA note payable interest expense			(2,177	)
Pro Forma adjustment		$	406

This adjustment assumes the interest rate on this borrowing at the date of acquisition (4.5%) was in effect for the entire period. A 125 basis point change in the assumed interest rate would have an impact of $618 on pro forma consolidated interest expense.

(f)		Reflects an adjustment to reduce income taxes due to the pro forma adjustments presented in note 15(a) — (e) above applying statutory tax rates for the applicable period.
(g)		Reflects an adjustment to noncontrolling interest (21.37%) related to net income of EBS Master as follows:

		Six Months
		Ended June 30,
		2010
EBS Master Net Income		$	24,971
Add: CEA Historical Net Income contribution to EBS Master Net Income			4,301
Pro forma CEA adjustments to EBS Master net income			(2,223	)
Pro Forma EBS Master net income			27,049
Multiplied by noncontrolling interest percentage in EBS Master			21.37	%
Pro Forma income attributable to noncontrolling interest			5,779
Less: historical income attributable to noncontrolling interest			(5,400	)
Pro Forma adjustment		$	379

(16) The amounts in this column represent the pro forma adjustments made to reflect the reorganization transactions and IPO as if they occurred on January 1, 2009 as follows:

(a)		Reflects an adjustment to equity based compensation expense to give effect to the conversion of the EBS Phantom Awards into Class A common stock, restricted stock units and options to purchase shares of Class A common stock assuming such conversions occurred on January 1, 2009. This portion of the expense relates to unvested equity-based awards and will be recognized over the remaining vesting periods, which generally range from three to five years from the date of grant.
(b)		Reflects an adjustment to income taxes due to the pro forma adjustments presented in note 16(a) above applying statutory tax rates for the applicable period.
(c)		Reflects an adjustment to noncontrolling interest (21.49%) related to net income of EBS Master assuming the reorganization transactions and IPO occurred on January 1, 2009 calculated as follows:

		Year Ended
		December 31,
		2009
EBS Master Net Income		$	27,935
Add: Pro Forma Offering adjustments to EBS Master net income			(2,906	)
Offering Pro Forma EBS Master net income			25,029
Multiplied by noncontrolling interest percentage in EBS Master			21.49	%
Pro Forma income attributable to noncontrolling interest			5,379
Less: historical income attributable to noncontrolling interest			(6,295	)
Pro Forma adjustment		$	(916	)

(17) The amounts in this column represent eRx’s actual results for the period January 1, 2009 to July 2, 2009.

(18) The amounts in this column represent the pro forma adjustments made to reflect the eRx acquisition as if it occurred on January 1, 2009 as follows:

(a)

Represents impact to depreciation and amortization as a result of recording eRx fixed assets and identifiable intangible assets at fair value as of the date of acquisition as follows:

										Monthly				Year ended
Description		Amount				Assigned Life				Amortization				December 31, 2009
Technology		$	5,740				7			$	68			$	410
Equipment			1,274				3				35				456
Total depreciation															866
Customer List			28,130				20				117				703
Non-compete agreements			320				5				5				32
Trade Name			9,660				20				40				242
Total amortization															977
Total Pro Forma expense															1,843
Less: historical eRx depreciation and amortization expense															(509	)
Pro Forma adjustment														$	1,334

(b)

Reflects an adjustment to reduce income taxes due to eRx historical adjustments presented in note 17 and the pro forma adjustments presented in note 18(a) above applying statutory tax rates for the applicable period.

(c)

Reflects an adjustment to noncontrolling interest (21.49%) related to net income of EBS Master as follows:

		Year Ended
		December 31,
		2009
Offering Pro Forma EBS Master Net Income		$	25,029
Add: eRx Historical Net Income contribution to EBS Master Net Income			3,191
Pro Forma eRx adjustments to EBS Master net income			(1,334	)
Pro Forma EBS Master net income			26,886
Multiplied by noncontrolling interest percentage in EBS Master			21.49	%
Pro Forma income attributable to noncontrolling interest			5,778
Less: Offering Pro Forma income attributable to noncontrolling interest			(5,379	)
Pro Forma adjustment		$	399

(19) The amounts in this column represent the pro forma adjustments made to reflect the CEA acquisition as if it occurred on January 1, 2009 as follows:

(a)		Represents the elimination of revenue and expenses associated with transactions between the Company and CEA.
(b)		Represents a reclassification of historical CEA expenses to conform to the Company’s accounting policy.
(c)		Represents an adjustment to conform CEA’s accounting policy for the deferral of costs to the Company’s policy of expensing such costs as incurred.
(d)		Represents impact to depreciation and amortization as a result of recording CEA fixed assets and identifiable intangible assets at fair value as of the date of acquisition as follows:

										Monthly				Year ended
Description		Amount				Assigned Life				Amortization				December 31, 2009
Technology		$	21,520				10			$	179			$	2,152
Equipment			2,217				2				92				1,109
Total depreciation															3,261
Customer List			72,180				12				501				6,015
Non-compete agreements			1,330				5				22				266
Trade Name			3,620				5				60				724
Total amortization															7,005
Total proforma expense															10,266
Less: historical CEA depreciation and amortization expense															(4,939	)
Pro Forma adjustment														$	5,327

(e)

Represents interest expense (including amortization of loan costs and discount) related to the Company’s $100,000 incremental term loan borrowing as if the borrowing (and the repayment of the CEA existing debt) occurred on January 1, 2009 as follows:

		Year Ended
		December 31,
		2009
Interest related to incremental term loan borrowing			4,483
Amortization of debt discount and deferred loan costs			716
			5,199
Less: historical CEA note payable interest expense			(4,502	)
Pro Forma adjustment		$	697

This adjustment assumes the interest rate on this borrowing at the date of acquisition (4.5%) was in effect for the entire period. A 125 basis point change in the assumed interest rate would have an impact of $1,245 on pro forma consolidated interest expense.

(f)

Reflects an adjustment to reduce income taxes due to the pro forma adjustments presented in note 19(a) — (e) above applying statutory tax rates for the applicable periods.

(g)

Reflects an adjustment to noncontrolling interest (21.49%) related to net income of EBS Master as follows:

		Year Ended
		December 31,
		2009
Offering and eRx Pro Forma EBS Master Net Income		$	26,886
Add: CEA Historical Net Income contribution to EBS Master Net Income			6,165
Pro forma CEA adjustments to EBS Master net income			(3,157	)
Pro Forma EBS Master net income			29,894
Multiplied by noncontrolling interest percentage in EBS Master			21.49	%
Pro Forma income attributable to noncontrolling interest			6,425
Less: eRx Pro Forma income attributable to noncontrolling interest			(5,778	)
Pro Forma adjustment		$	647

(20) Net income for the year ended December 31, 2009 excludes non recurring charges that are directly attributable to the Company’s reorganization and IPO that occurred in 2009 of $8,789 and the related tax impact of $3,222 and noncontrolling interest of $1,873.