Attached files
file | filename |
---|---|
8-K - FORM 8-K - Change Healthcare Holdings, Inc. | g24774e8vk.htm |
EX-4.1 - EX-4.1 - Change Healthcare Holdings, Inc. | g24774exv4w1.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE | ![]() |
Emdeon Completes Acquisition of Chamberlin Edmonds
Acquisition expands Emdeons leadership position in revenue cycle management solutions for hospital market
NASHVILLE, Tenn. (October 4, 2010) Emdeon Inc. (NYSE: EM), a leading provider of healthcare
revenue and payment cycle management solutions, today announced it has completed the acquisition of
Chamberlin Edmonds & Associates, Inc., a leading provider of government program eligibility and
enrollment services to over 200 acute care facilities in 31 states. Chamberlin Edmonds
technology-enabled services assist hospitals in lowering the incidence of uncompensated care,
reducing bad-debt expense and increasing overall cash flow.
Chamberlin Edmonds offers hospitals a unique service model that combines highly-trained
professionals located on-site at hospitals, sophisticated workflow technology, regional resolutions
centers and a centralized back office infrastructure to deliver cost-efficient, comprehensive and
scalable eligibility and enrollment services for government programs. These services track the
patient from initial intake through post-enrollment application resolution and offer hospitals the
ability to screen, qualify and enroll patients into government, charity and community benefit
programs.
The acquisition of Chamberlin Edmonds provides Emdeon with an enhanced revenue cycle management
solution to better address the reimbursement challenges our hospital customers face, said George
Lazenby, chief executive officer for Emdeon. As the government further increases its role in
reimbursable care, we believe we will have significant opportunities to cross-sell these
value-added products and services to the existing base of 5,000 hospitals already in our network.
Chamberlin Edmonds professional staff utilizes its technology systems and repetitive,
manufacturing-like processes to help maximize eligibility yield and improve cash flow for
hospitals. This model, developed over more than twenty years, can be integrated with current Emdeon
solutions to produce powerful technology-enabled solutions for hospital customers.
We believe the healthcare market will benefit tremendously from the combination of Emdeon and
Chamberlin Edmonds, said T. Ulrich Brechbühl, president and chief executive officer for Chamberlin
Edmonds & Associates. Together, we offer a comprehensive technology-enabled revenue cycle
management service from one single strategic partner equipped to address the current and future
challenges associated with Medicaid and other government sponsored programs.
Emdeon acquired Chamberlin Edmonds for $260 million in cash. The transaction was financed through
the use of unrestricted cash and an incremental $100 million term loan under an amendment to
Emdeons existing credit facility.
About Emdeon
Emdeon is a leading provider of revenue and payment cycle management solutions, connecting payers, providers and patients in the U.S. healthcare system. Emdeons product and service offerings integrate and automate key business and administrative functions of its payer and provider customers throughout the patient encounter. Through the use of Emdeons comprehensive suite of products and services, which are designed to easily integrate with existing technology infrastructures, customers are able to improve efficiency, reduce costs, increase cash flow and more efficiently manage the complex revenue and payment cycle process. For more information, visit www.emdeon.com.
Emdeon is a leading provider of revenue and payment cycle management solutions, connecting payers, providers and patients in the U.S. healthcare system. Emdeons product and service offerings integrate and automate key business and administrative functions of its payer and provider customers throughout the patient encounter. Through the use of Emdeons comprehensive suite of products and services, which are designed to easily integrate with existing technology infrastructures, customers are able to improve efficiency, reduce costs, increase cash flow and more efficiently manage the complex revenue and payment cycle process. For more information, visit www.emdeon.com.
About Chamberlin Edmonds
Headquartered in Atlanta, Georgia, Chamberlin Edmonds serves as patient advocates and provides custom-tailored eligibility services to hospitals nationwide. Chamberlin Edmonds comprehensive services examine a wide spectrum of uninsured and underinsured patients, including inpatient, outpatient and emergency department cases. The advanced technology of its proprietary web-based system is built on the experience and expertise of some of the most qualified eligibility and enrollment professionals in the industry its people. Chamberlin Edmonds has more than 24 years of experience in eligibility services, with eight regional offices in the U.S. Please visit www.chamberlinedmonds.com to learn more.
Headquartered in Atlanta, Georgia, Chamberlin Edmonds serves as patient advocates and provides custom-tailored eligibility services to hospitals nationwide. Chamberlin Edmonds comprehensive services examine a wide spectrum of uninsured and underinsured patients, including inpatient, outpatient and emergency department cases. The advanced technology of its proprietary web-based system is built on the experience and expertise of some of the most qualified eligibility and enrollment professionals in the industry its people. Chamberlin Edmonds has more than 24 years of experience in eligibility services, with eight regional offices in the U.S. Please visit www.chamberlinedmonds.com to learn more.
Statements made in this press release that express Emdeons or managements intentions, plans,
beliefs, expectations or predictions of future events are forward-looking statements, which Emdeon
intends to be covered by the safe harbor provisions for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995. These statements often include words such as
may, will, should, believe, expect, anticipate, intend, plan, estimate or similar
expressions. Such statements include statements regarding the anticipated performance of the
acquired business and the integration of the acquired business with Emdeon. Forward-looking
statements also may include information concerning Emdeons possible or assumed future results of
operations, including descriptions of Emdeons revenues, profitability and outlook and its overall
business strategy. You should not place undue reliance on these statements because they are subject
to numerous uncertainties and factors relating to Emdeons operations and business environment, all
of which are difficult to predict and many of which are beyond Emdeons control. Although Emdeon
believes that these forward-looking statements are based on reasonable assumptions, you should be
aware that many factors could affect Emdeons actual financial results or results of operations and
could cause actual results to differ materially from those in the forward-looking statements,
including the risks discussed in the Risk Factors and Managements Discussion and Analysis of
Financial Condition and Results of Operations sections and elsewhere in Emdeons Annual Report on
Form 10-K for the year ended December 31, 2009, as well as Emdeons periodic and other reports,
filed with the Securities and Exchange Commission.
You should keep in mind that any forward-looking statement made by Emdeon herein, or elsewhere,
speaks only as of the date on which made. Emdeon expressly disclaims any intent, obligation or
undertaking to update or revise any forward-looking statements made herein to reflect any change in
Emdeons expectations with regard thereto or any change in events, conditions or circumstances on
which any such statements are based.
# # #
Contacts:
Emdeon
Media Contact
Amanda Woodhead
615.932.3863
awoodhead@emdeon.com
www.emdeon.com
Emdeon
Media Contact
Amanda Woodhead
615.932.3863
awoodhead@emdeon.com
www.emdeon.com
Emdeon
Investor Relations Contact
Tommy Lewis
615.932.3235
tlewis@emdeon.com
www.emdeon.com
Investor Relations Contact
Tommy Lewis
615.932.3235
tlewis@emdeon.com
www.emdeon.com