MINNEAPOLIS--(BUSINESS WIRE)--TripleTree, LLC, a strategic advisor and merchant bank serving innovative and market-leading companies in healthcare, is pleased to announce that its client, Change Healthcare, has been acquired by Emdeon. Financial terms of the transaction include $135 million in cash 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.
Change Healthcare is a leader in consumer engagement and cost transparency for employers and health plans. The ability to provide healthcare cost and educational insights personalized to the individual helps employees, health plan members and patients reduce both out-of-pocket and overall system costs, while creating better healthcare consumers.
TripleTree has partnered with Change Healthcare on multiple occasions, assisting the company as its financial advisor in both their capital growth efforts and sale to Emdeon. “It has been extremely rewarding to work alongside the team at Change Healthcare in a period of rapid growth as they bring highly innovative transparency and engagement solutions to a changing healthcare environment that is in desperate need for tools that truly empower the healthcare consumer,” said Peter Erickson, Managing Director at TripleTree. “Taking the next step in their growth and leveraging Emdeon’s scale, connectivity and data only enhances such innovation and the solutions that can be brought to market.”
“This transaction allows us to further our commitment to transparency and consumer engagement and will enable us to deliver even more comprehensive, timely and personalized information to our users,” stated Doug Ghertner, Executive Vice President, Consumer Engagement at Emdeon and former Change Healthcare CEO. “Our relationship with TripleTree, leading to this important event, has been a true partnership. As a trusted advisor to our company, TripleTree brought deep industry, financial, and strategic insights have been invaluable in helping shape and execute on key decisions that have advanced our growth and now position us for even greater success with Emdeon.”
TripleTree acted as the exclusive financial advisor to Change Healthcare for this transaction.
TripleTree is an independent merchant bank focused on mergers and acquisitions, financial restructuring, and principal investing services. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare. For more, visit www.triple-tree.com
About Change Healthcare
Established in 2007, Change Healthcare is on a mission to transform the way Americans purchase and utilize healthcare services by driving sustainable engagement at the individual level. With a national client base of health plans and employers covering lives in all 50 states, and more than 10 million lives under contract, Change Healthcare is a premier national provider of healthcare cost transparency and consumer engagement solutions that enable consumers to better understand and utilize their healthcare benefits; make informed healthcare purchasing decisions based on quality, cost and convenience; and manage higher out-of-pocket responsibility and realize savings. To learn more, visit www.changehealthcare.com.
Emdeon is a leading provider of revenue and payment cycle management and clinical information exchange solutions, connecting payers, providers, pharmacies and patients in the U.S. healthcare system. Emdeon's offerings integrate and automate key business and administrative functions of its payer, provider and pharmacy customers throughout the patient encounter. Through the use of Emdeon’s comprehensive suite of solutions, 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 and clinical information exchange processes. For more information, visit www.emdeon.com.