ELMWOOD PARK, N.J., Feb. 11 /PRNewswire-FirstCall/ -- HLTH Corporation (Nasdaq: HLTH) today announced that it has completed the sale, for $575 million in cash, of its 48% minority interest in Emdeon Business Services to General Atlantic LLC and Hellman & Friedman LLC. General Atlantic previously acquired a 52% majority interest in Emdeon Business Services from HLTH in November 2006.
Martin J. Wygod, Chairman and Acting CEO of HLTH, said: "HLTH is very pleased to complete the sale of its minority interest in Emdeon Business Services to General Atlantic and Hellman & Friedman. We have worked closely with General Atlantic over the past year to further solidify Emdeon Business Services' market leadership. HLTH and WebMD look forward to continuing to work with Emdeon in our ongoing product development and marketing relationships."
In the November 2006 transaction, HLTH received approximately $1.2 billion in cash and retained a 48% interest in Emdeon Business Services. As a result of the completion of the sale of that 48% interest, HLTH has received total proceeds of approximately $1.775 billion in cash for Emdeon Business Services.
HLTH Corporation's (NASDAQ: HLTH) businesses are comprised of WebMD Health Corp., (NASDAQ: WBMD), ViPS and Porex. WebMD provides health information services for consumers, physicians, healthcare professionals, employers and health plans through its public and private online portals and health-focused publications. ViPS provides healthcare data management, analytics, decision- support and process automation solutions and related information technology services to governmental, Blue Cross Blue Shield and commercial healthcare payers. ViPS' solutions and services help its clients improve patient outcomes, increase customer satisfaction and reduce costs. Porex is a developer, manufacturer and distributor of proprietary porous plastic products and components used in healthcare, industrial and consumer applications.
All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding our expectations concerning market opportunities and our ability to capitalize on them; the benefits expected from the transactions referred to in this press release, from new products or services and from other potential sources of additional revenue. These statements speak only as of the date of this press release and are based on our current plans and expectations, and they involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: market acceptance of our products and services; length of sales and implementation cycles for our products and services; our relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet, information technology and plastics industries; and our ability to attract and retain qualified personnel. Further information about these matters can be found in our Securities and Exchange Commission filings. Except as required by applicable law or regulation, we do not undertake any obligation to update our forward- looking statements to reflect future events or circumstances.
WebMD(R), WebMD Health(R), POREX(R) and ViPSSM are trademarks of HLTH Corporation or its subsidiaries.
Emdeon(tm) and Emdeon Business Services(tm) are trademarks of Emdeon Business Services, LLC or its subsidiaries.
|SOURCE HLTH Corporation|
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