Data analytics provider pays $910 million for health IT acquisitionReprints
Emdeon Inc., the Nashville, Tennessee-based revenue-cycle management, data network and analytics provider, is acquiring Altegra Health Inc., Miami Lakes, Florida, a provider of data analytics and customer engagement software and services for health insurance companies and other risk-bearing organizations, the companies have announced.
Emdeon will use debt and equity financing in the acquisition, valued at $910 million, and “anticipates paying the purchase price from a combination of available cash and proceeds from new debt and equity offerings,” according to a news release.
The deal is subject to antitrust review but is expected to close in the third quarter this year, the companies said. Both Emdeon and Altegra are privately held.
“Altegra Health has created leading end-to-end solutions that provide health plans and other risk-bearing organizations with the data, insights and related services they need to expertly manage care, ensure appropriate reimbursement and engage individuals in improving their use of the health care system," Neil de Crescenzo, Emdeon's president and CEO, said in a news release. “By adding these capabilities and leveraging our Intelligent Healthcare Network, we can further expand the products and services we provide our customers as they address the needs of value-based health care."
Altegra also has an established beach head in the growing provider-sponsored health plan market.
Last fall, Emdeon announced the $185 million acquisition of another insurance-related health information technology company, Nashville-based Change Healthcare Corp., a provider of consumer-facing purchasing support tools for payers and self-insured employers.
Joseph Conn writes for Modern Healthcare, a sister publication of Business Insurance.