News | Information Technology | March 06, 2017

McKesson and Change Healthcare Complete Creation of New Healthcare IT Company

Company will work with customers to ease the transition to value-based care

McKesson, Change Healthcare, new information technology company

March 6, 2017 — McKesson Corp. and Change Healthcare Holdings Inc., provider of software and analytics, network solutions and technology-enabled services, (CHC) recently announced the completion of their previously announced agreement to create a new healthcare information technology company. The new company is named Change Healthcare and combines substantially all of CHC’s business and the majority of McKesson Technology Solutions (MTS).

By uniting the majority of MTS’ businesses with CHC, the new company offer a broad set of complementary capabilities that will deliver wide-ranging financial, operational and clinical benefits to payers, providers and consumers. The new Change Healthcare will be a collaborative catalyst for accelerating its customers’ and partners’ paths to value-based care and better engagement with consumers.

“We are thrilled to have completed this combination of two great organizations. Our nearly 15,000 team members will be working with our collective customers and partners to provide a stronger, increasingly collaborative and more efficient healthcare system that enables better healthcare outcomes,” said Neil de Crescenzo, CEO of Change Healthcare.

As previously announced, the new organization will leverage the Change Healthcare name, but with the announcement introduced a new logo, brand positioning and visual identity. The migration to the new brand will happen over the next year. Information about both MTS’ and CHC’s contributed products and solutions will be available through the Change Healthcare website.

McKesson owns approximately 70 percent of Change Healthcare, with the remaining equity ownership held by CHC stockholders, including Blackstone and Hellman & Friedman. The new company is jointly governed by McKesson and CHC stockholders.

In conjunction with the creation of the new company, Change Healthcare raised approximately $6.1 billion in debt, which was utilized to fund cash payments of approximately $1.25 billion to McKesson and approximately $1.75 billion to CHC stockholders, cover transaction costs and repay approximately $2.8 billion of existing CHC debt.

For more information: www.changehealthcare.com

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