Navigation Links
General Atlantic and Hellman & Friedman Purchase HLTH Corporation's Remaining Interest in Emdeon

Tracy Bahl Joins Board of Directors as Chairman

NASHVILLE, Tenn., Feb. 11 /PRNewswire-FirstCall/ -- Emdeon Business Services (Emdeon) announced today that General Atlantic LLC (General Atlantic) and affiliates of Hellman & Friedman LLC completed the purchase of all remaining interests in Emdeon held by HLTH Corporation (Nasdaq: HLTH). General Atlantic purchased a 52% interest in Emdeon from HLTH in November 2006.

Emdeon also announced that Tracy L. Bahl, formerly Chief Executive Officer of Uniprise, a multi-billion dollar UnitedHealth Group company, has joined Emdeon's board of directors as Chairman. Mr. Bahl will work closely with Emdeon's board of directors and leadership team to pursue its strategic growth objectives.

Emdeon CEO George Lazenby commented, "We are extremely pleased that General Atlantic continues to show strong support for our business and the broader revenue cycle and claims administration marketplace. We are also pleased to welcome Hellman & Friedman as a partner alongside General Atlantic given the firms' collective experience in information services and healthcare. The opportunities ahead for Emdeon remain significant, and with these firms working with us as strong capital partners and strategic advisors, we are well positioned to continue to serve our clients with the highest-quality products and services."

General Atlantic managing director, Jonathan Korngold, commented, "We are very excited about this next phase in Emdeon's development and are looking forward to working with the Company to build upon its leadership position as a provider of intelligent revenue cycle management and communications solutions for the healthcare industry."

Mr. Lazenby added, "We are also very excited to have Tracy join Emdeon as Chairman as his experience and skill set complement the strengths of our existing team. His involvement will be a tremendous asset to us as we continue to focus on driving innovation around our core capabilities and delivering our services to the healthcare market."

Mr. Bahl said, "I am delighted to be a part of the Emdeon team. Emdeon is addressing the growing demand among healthcare constituents for electronic payment and remittance solutions as payers and providers seek to reduce paper and improve the overall speed, accuracy and efficiency of billing and payment administration. We see substantial growth opportunities in Emdeon's markets, and I look forward to working closely with the Emdeon team and our directors in building the leading provider of healthcare solutions."

Mr. Bahl, 45, currently serves as a Special Advisor to General Atlantic, a global growth investor and Emdeon's majority owner. As CEO of Uniprise, a division of UnitedHealth Group, Mr. Bahl was responsible for leading Uniprise's growth and advancing the Group's position as the leading provider of healthcare solutions to the large employer marketplace. He also led UnitedHealth Group's International business operations, including cross-border health benefits services and extensive in-country operations across the globe.

Mr. Bahl joined UnitedHealth Group in 1998 as president of domestic and multi-national employers, governments and institutions. After serving in this position for four years, he was named chief marketing officer of UnitedHealth Group. He was appointed CEO of Uniprise in 2004.

Joining Mr. Bahl as new members of Emdeon's board of directors will be Allen Thorpe and Philip Hammarskjold, managing directors of Hellman & Friedman. Existing board members include General Atlantic managing directors Mark Dzialga and Jonathan Korngold.

Allen Thorpe, Managing Director of Hellman & Friedman LLC added, "We strongly believe in the strength of the Emdeon franchise and look forward to partnering with management and General Atlantic to continue its growth."

About Emdeon Business Services

Emdeon Business Services is a leading provider of revenue cycle management and clinical communication solutions that enables payers, providers and patients to improve healthcare business processes. Our solutions are designed to simplify the business and improve the delivery of healthcare for providers, payers and patients. Emdeon Business Services is owned by General Atlantic LLC and Hellman & Friedman LLC. For more information, visit

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Founded in 1980, GA manages approximately $17 billion in capital and has more than 70 investment professionals based in Greenwich, New York, Palo Alto, London, Dusseldorf, Hong Kong, Mumbai and Sao Paulo. For further information and a listing of GA's public and private portfolio companies see

About Hellman & Friedman LLC

Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York and London. The Firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including business services, asset management, information services, media, energy and healthcare. Since its founding in 1984, Hellman & Friedman has raised and, through its affiliated funds, managed over $16 billion of committed capital and is currently investing its sixth partnership, Hellman & Friedman Capital Partners VI L.P., with over $8 billion of committed capital. Other recent investments include: Catalina Marketing Corporation, Kronos Incorporated, Sheridan Healthcare, Inc., Gartmore Investment Management plc, IRIS Software Group Limited, LPL Holdings, Inc., DoubleClick, Inc., The Nasdaq Stock Market, and Texas Genco LLC. For more information, visit

SOURCE Emdeon Business Services
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Glades General Hospital First in Palm Beach County to Provide On-Site Electronic Birth Registration
2. Academy of General Dentistry Launches Campaign to Focus on Tooth Erosion
3. VIDEO from Medialink and General Motors: On and Off the Track
4. New lung cancer guidelines oppose general CT screening
5. New Lung Cancer Guidelines Oppose General CT Screening
6. Medina General Hospital and University Hospitals Agree to Pursue Affiliation
7. Keith Taft Named General Manager of UltraTape Industries
8. Acting Surgeon General Announces National Initiatives to Protect Children by Reducing Exposure to Secondhand Smoke
9. General Colin Powell Speaks Out for Prostate Cancer Prevention
10. LMS integrated obstetrics solution achieves general availability
11. VIDEO from Medialink and General Mills: Digestive Health
Post Your Comments:
(Date:6/27/2016)... ... June 27, 2016 , ... ... payment industry today announced its strategic partnership with Connance, a healthcare industry ... The two companies’ proven, proprietary technology combine to provide health systems, hospitals ...
(Date:6/26/2016)... California (PRWEB) , ... June 26, 2016 , ... Pixel ... Cut Pro X. , "Film editors can give their videos a whole new perspective ... Christina Austin - CEO of Pixel Film Studios. , ProSlice Levels contains over ...
(Date:6/25/2016)... , ... June 25, 2016 , ... Austin residents seeking ... American College of Mohs Surgery and to Dr. Russell Peckham for medical and surgical ... effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by ...
(Date:6/25/2016)... City, Oklahoma (PRWEB) , ... June 25, 2016 ... ... helping both athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic ... the Oklahoma City area —Johnson is one of the first doctors to perform ...
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance ... and the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, ... Disease. , Sickle Cell Disease (SCD) is a disorder of the red blood cells, ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016   Bay Area ... Network,s Dean Center for Tick Borne Illness ... and Rehabilitation, MIT Hacking Medicine, University of California, ... today announced the five finalists of Lyme ... disease.  More than 100 scientists, clinicians, researchers, entrepreneurs, ...
(Date:6/24/2016)... 2016 The Academy of Managed Care Pharmacy ... that would allow biopharmaceutical companies to more easily share ... formulary and coverage decisions, a move that addresses the ... The recommendations address restrictions in the sharing ... drug label, a prohibition that hinders decision makers from ...
(Date:6/24/2016)... 2016 Research and Markets has announced ... Diagnostic Tests" report to their offering. ... The World Market for Companion Diagnostics covers ... Market analysis in the report includes the following: ... Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
Breaking Medicine Technology: