Assuming Emdeon eventually hits the button on its prospective initial public offering of common stock, the company is likely to continue its acquisitive ways. Last week's Emdeon announcement of its acquisition of eRx Network came three years after the pair entered a strategic alliance. Within the past ten months, Emdeon also announced its acquisition of GE Healthcare Information Technology's patient-statement business; and, its purchase of The Sentinel Group, a fraud- and abuse-management services provider. With that in mind, we note that within the past 15 months Emdeon also announced strategic alliances with Durham-based Bloodhound Partner (Optimal Business-Trustmark Holdings), a claims analytics provider; and, consummated a tech partnership with drug-claims tech provider NovoLogix (then known as ACM Inc.), based in Minneapolis. The flurry of activity in 2008, followed by a few weeks the purchase by Emdeon's private-equity backers (General Atlantic and Hellman & Friedman) of the remaining Emdeon ownership stake held, theretofore, by HLTH Corp. (itself soon to be integrated within WebMD). Emdeon has shelf-registed a potential $460MM IPO with the SEC, and has indicated both that some of the proceeds of the offering will be directed toward further acquisitions; and, that its current private-equity controllers will continue to retain controlling interest of the company after the IPO. A considerable chunk of Emdeon's corporate 'DNA' traces back to the formation of Envoy Corporation here, more than 20 years ago, by Fred Goad, who now partners with former Envoy exec Jim Kever in Brentwood-based Voyent Partners, through which the pair invests in angel and private-equity deals.
Monday, July 06, 2009
Emdeon technivore?
Assuming Emdeon eventually hits the button on its prospective initial public offering of common stock, the company is likely to continue its acquisitive ways. Last week's Emdeon announcement of its acquisition of eRx Network came three years after the pair entered a strategic alliance. Within the past ten months, Emdeon also announced its acquisition of GE Healthcare Information Technology's patient-statement business; and, its purchase of The Sentinel Group, a fraud- and abuse-management services provider. With that in mind, we note that within the past 15 months Emdeon also announced strategic alliances with Durham-based Bloodhound Partner (Optimal Business-Trustmark Holdings), a claims analytics provider; and, consummated a tech partnership with drug-claims tech provider NovoLogix (then known as ACM Inc.), based in Minneapolis. The flurry of activity in 2008, followed by a few weeks the purchase by Emdeon's private-equity backers (General Atlantic and Hellman & Friedman) of the remaining Emdeon ownership stake held, theretofore, by HLTH Corp. (itself soon to be integrated within WebMD). Emdeon has shelf-registed a potential $460MM IPO with the SEC, and has indicated both that some of the proceeds of the offering will be directed toward further acquisitions; and, that its current private-equity controllers will continue to retain controlling interest of the company after the IPO. A considerable chunk of Emdeon's corporate 'DNA' traces back to the formation of Envoy Corporation here, more than 20 years ago, by Fred Goad, who now partners with former Envoy exec Jim Kever in Brentwood-based Voyent Partners, through which the pair invests in angel and private-equity deals.
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