Free EHR, EHR and Healthcare IT Newsletter Want to receive the latest updates on EHR, EMR and Healthcare IT news sent straight to your email? Get all the latest EHR News for FREE!

Huntzinger Management Group Announces Acquisition of Next Wave Health Advisors

SCRANTON, Pa.–The Huntzinger Management Group, Inc. (Huntzinger), a leader in healthcare advisory, managed, implementation, and supplemental staffing services, announced the acquisition of Next Wave Health Advisors, LLC (the Advisors). Founding Partner Bob Kitts, Chief Executive Officer of Huntzinger, made the announcement.

As part of Huntzinger, the Advisors will assist in providing healthcare advisory and managed services consulting. The Advisors will staff key advisory and managed services engagements with Huntzinger. Additionally, the Advisors will be actively involved in collaborating with Huntzinger leadership to formulate services most needed by and beneficial to the healthcare IT market.

The Advisors are a select group of experts who have helped shape the healthcare IT industry for the past several decades, and includes:

  • Frank Clark
  • Skip Hubbard
  • Ed Kopetsky
  • Peter Johnson
  • Rose Ann Laureto
  • Bill Montgomery
  • David Muntz
  • Sue Schade
  • Bill Spooner
  • Lynn Vogel
  • Jim Wagner
  • Eric Yablonka

“Huntzinger is a leader within the Healthcare IT industry. With the addition of the Advisors, Huntzinger has significantly expanded our knowledge base and resources within our advisory and managed service offerings. The Advisors and Huntzinger together provide sustainable strategic solutions for the healthcare IT industry,” stated Tanya Freeman, Huntzinger’s President, Chief Operating Officer, and Founding Partner.

Ivo Nelson, healthcare information pioneer, investor, and former Next Wave Health Advisors’ Chairman commented, “Finding the right partner for these preeminent healthcare leaders was our top priority, and Huntzinger is exactly such a partner.” He added, “Now there is a sound home for not only the current Advisors, but for future healthcare IT thought leaders as well.”

About The Huntzinger Management Group, Inc.
Huntzinger provides advisory, managed services, implementation, and supplemental staffing services to the healthcare industry. We focus on clinical and operational business performance optimization by ensuring alignment between IT, clinical, and ambulatory areas to position our healthcare clients for the future. For more information, visitwww.huntzingergroup.com.

About Next Wave Health Advisors, LLC.
The Advisors are preeminent leaders in healthcare information technology. Our team of executives played central roles in forming the modern-day HIT landscape over the past several decades, setting the bar in HIT leadership, management, technology, information security, business intelligence and organizational development. For more information, visit www.nextwavehealthadvisors.com

September 15, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Philips Acquires Wellcentive

AMSTERDAM–(BUSINESS WIRE)–Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it has signed an agreement to acquire Wellcentive, a leading US-based provider of population health management software solutions. Financial details of the transaction will not be disclosed.

In population health management, Philips already offers enterprise telehealth, home monitoring, personal emergency response systems (PERS) and personal health services that address multiple groups within a population from intensive ambulatory care for high-risk patients to prevention and personal health programs for the general population. Wellcentive complements Philips’ portfolio with cloud-based IT solutions to import, aggregate and analyze clinical, claims and financial data across hospital and health systems to help care providers deliver coordinated care that meets new healthcare quality requirements and reimbursement models.

Upon completion of the transaction, which is expected later today, Wellcentive and its employees will become part of the Population Health Management business group within Philips. Tom Zajac, CEO of Wellcentive and an experienced healthcare industry leader, will be appointed to lead this business group.

“With this strategic acquisition, we will strengthen our Population Health Management business and its leadership, as health systems gradually shift from volume to value-based care, and provide more preventative and chronic care services outside of the hospital,” said Jeroen Tas, Philips’ CEO Connected Care & Health Informatics. “Our sweet spot is at the point of care as we give consumers, patients, care teams and clinicians the tools, such as remote monitoring solutions and therapy devices, to optimize care. Wellcentive’s solutions will provide our customers with the ability to collect data from large populations, detect patterns, assess risks and then deploy care programs tailored to the needs of specific groups.”

“Over the past 11 years, the Wellcentive team has focused on delivering data-driven clinical, financial, and human outcomes for our customers as they provide care management for more than 30 million patients,” said Tom Zajac, CEO of Wellcentive. “Combining forces with Philips and its broad portfolio of health technologies and global reach will create a great foundation to accelerate growth in connected care – from healthy living and prevention, to diagnosis, treatment and home care – enabling consumers, providers and health organizations to benefit from our combined, stronger offering in population health management.”

Wellcentive’s applications will be integrated in the Philips HealthSuite cloud, the company’s digital enabler for the next generation of connected health solutions. One example of Philips’ existing care programs for population health management is the Intensive Ambulatory Care (eIAC) program: this combines telehealth technologies and population health management software to help care teams monitor and coach patients at home. It aims to improve patient outcomes, care team efficiency, and prevent patients from entering the hospital, where costs are significantly higher.

Founded in 2005 and headquartered in Atlanta, Georgia, Wellcentive employs approximately 115 employees. The company has a strong customer base in the US.

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. The company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Headquartered in the Netherlands, Philips’ health technology portfolio generated 2015 sales of EUR 16.8 billion and employs approximately 69,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

July 20, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

TELUS Health Announces Agreement to Acquire Nightingale’s Canadian EMR Operations

TORONTO, ONTARIO–(Marketwired – July 14, 2016) – TELUS Health announced today that it has entered into an agreement to acquire the Canadian business of Nightingale Informatix Corp. (Nightingale) (TSX VENTURE:NGH), including its proprietary Electronic Medical Record (EMR) software solutions and related assets.

Nightingale currently provides its EMR solution to 4,000 physicians in Canada, mainly in Ontario and the Atlantic provinces.

“At TELUS Health, we are on a mission to leverage the power of technology and our world-class telecommunications infrastructure to improve health outcomes for Canadians,” said Paul Lepage, President, TELUS Health. “We are working to realize our goal not only by continuing to invest in health technology that supports the primary care ecosystem, but also through strategic acquisitions.”

The acquisition of Nightingale’s Canadian operations is subject to customary closing conditions, including Nightingale shareholder approval and regulatory approval.

About TELUS Health

TELUS Health is a leader in telehomecare, electronic medical and health records, consumer health, benefits management and pharmacy management. TELUS Health solutions give health authorities, providers, physicians, patients and consumers the power to turn information into better health outcomes. For more information about TELUS Health, please visit telushealth.com.

July 18, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

McKesson Health Solutions Extends VBR Portfolio with ClarityQx Value-Based Payment Technology

Acquisition expands McKesson’s ability to support health plans in scaling bundled payment programs

NEWTON, Mass. and KING OF PRUSSIA, Pa.—July 12, 2016Last month McKesson Health Solutions released a national study that found value-based reimbursement (VBR) has firmly taken hold but that payers and providers are struggling to operationalize some of the fastest growing payment models.

Today McKesson Health Solutions announced it has expanded its portfolio to include ClarityQxvalue-based payment technology through the acquisition of HealthQX™.  This technology enhances McKesson’s ability to help customers rapidly and cost-effectively transition to value-based care by automating and scaling complex payment models, such as retrospective and prospective bundled payment.

Health plans use ClarityQx for analytics and for automation of retrospective bundled payment models and McKesson’s Episode Management™ to support automation of prospective bundled payment. Pairing ClarityQx with McKesson’s Episode Management gives health plans the ability to automate retrospective bundled payment processes today and move to prospective payment as they are ready.

“The growth of bundled payment is something payers and providers can’t ignore, and we want to ensure our customers have all the tools they need to succeed,” said Carolyn Wukitch, senior vice president of McKesson Health Solutions. “These new value-based payment analytics, reconciliation, and automation capabilities complement our value-based reimbursement suite, because they give our customers the capabilities to prepare for and scale bundled payment.”

Payers and providers are under immense pressure to operationalize bundled payments. Bundled payment is projected to be 17% of medical reimbursement by 2021, making it the fastest growing payment model. And the CMS is now mandating bundled payment in one out of every five metropolitan areas as part of its goal to make alternative payment 50% of reimbursement by 2018. Yet just half of payers and only 40% of providers are ready to implement bundles, and nearly 75% don’t have the tools they need to automate these complex models.

Now, with the addition of ClarityQx, McKesson can offer health plans a more complete portfolio that can automate their medical policy, payment policy, value-based reimbursement models, provider management, and contract management.

In addition to ClarityQx, McKesson’s Network and Financial Management portfolio also includes McKesson Episode Management™ prospective bundled payment automation solution,McKesson ClaimsXten™ advanced claims auditing rules engine, McKesson Reimbursement Manager™, McKesson Contract Manager™, McKesson Provider Manager™, and McKesson Payer Connectivity Services™.

ClarityQx was developed by HealthQX, a leading vendor of value-based payment analytic solutions for health plans and providers, which McKesson acquired in June.

“We’re thrilled to be joining McKesson Health Solutions,” said Mark McAdoo, CEO of HealthQX. “The integration of our two companies is reflective of our customers’ needs to rapidly transition from volume to value-based payments.”

About McKesson

McKesson Corporation, currently ranked 5th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. McKesson partners with payers, hospitals, physician offices, pharmacies, pharmaceutical companies, and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com.

July 12, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

HealthTap Acquires Docphin to Bring Comprehensive Medical Education to Doctors for Free

Doctors can now easily stay up to date with the latest medical literature and serve even better Virtual Care to HealthTap users

July 12, 2016 08:59 AM Eastern Daylight Time

PALO ALTO, Calif.–(BUSINESS WIRE)–HealthTap, the world’s first Global Health Practice providing 24/7 immediate access to doctors via video, text, or voice, announced today that it acquired Docphin, a leading service that makes it easier for doctors to keep up to date with the latest medical news and research results.

The acquisition enables HealthTap to extend educational activities for doctors with personalized updates of the medical literature through Docphin. A prime educational service for doctors and an emerging go-to resource for new publications in the medical literature, HealthTap now guides doctors to the latest developments and provides them with alerts and updates on topics relevant to their specialties and expertise. As a result, millions of people everywhere can now turn to HealthTap for better, more informed care, from doctors who have the most trusted medical knowledge at their fingertips when they need it most.

“As a World Economic Forum Technology Pioneer, and a Webby Award Winner for best design, HealthTap is committed to transforming healthcare through discovering and providing the very best ways to deliver and receive care, whether through building, acquiring, or partnering with the very best technologies, solutions and companies,” said Ron Gutman, Founder and CEO of HealthTap. “Our recent acquisition of Docphin has helped strengthen our value proposition for doctors worldwide, and our leadership position in the medical community by making valuable information more readily accessible to physicians when they need it most. We are actively seeking out services and companies that can enhance HealthTap’s offering for both doctors and consumers, and we’re eager to continue to expand our team and scale Virtual Care services across the world.”

HealthTap is integrating Docphin’s most valuable features and functionality into its platform and invites U.S. doctors using Docphin to join the world’s largest Medical Expert Network on HealthTap’s industry-leading platform. Once validated and approved into the network, leading doctors can take advantage of Curbside Consults with colleagues, case discussions in special doctor groups via Global Rounds, and the world’s first official Course and Certification Program in Virtual care. In all of these activities and others, they can earn Category 1 Continuing Medical Education (CME) credits while learning from more than 102,000 top doctors in 141 specialties.

“We’re constantly listening to our doctors in a genuine attempt to make their lives easier, and to help them become better doctors. When we identify a compelling need amongst our doctors, we either build the solution ourselves or find a way to partner with or acquire the right solution. When many doctors from around the world asked us for an easier way to stay up to date with the latest and greatest information in their fields, we immediately thought of the award-winning Docphin product, which we are thrilled to incorporate into our platform. We are equally thrilled to welcome the best Docphin doctors to HealthTap,” said Dr. Geoffrey Rutledge, HealthTap’s Chief Medical Officer.

With the acquisition of Docphin, and HealthTap’s integration of the service into its platform, it is now easier than ever for doctors and other healthcare professionals to follow their favorite medical journals, set up alerts, conveniently search PubMed, and access a comprehensive library of landmark articles by specialty, topic, or drug class.

U.S.-licensed doctors in good standing are invited to join HealthTap’s Medical Expert Network by signing up for free here.

About HealthTap

HealthTap, a World Economic Forum Technology Pioneer, is the world’s first Global Health Practice. HealthTap delivers immediate, world-class healthcare 24/7 from Query-to-Cure. Through video, voice, and text chat on any mobile device or personal computer, HealthTap connects hundreds of millions of people everywhere with the most trusted health advice from a network of more than 100,000 top U.S. doctors. HealthTap’s proprietary, robust, and secure Health Operating System (HOPES™) and proprietary triaging technology enable healthcare systems, payers and employers worldwide to provide the right care at the right time at the right price. Sign up today and download HealthTap’s free apps for iPhone, iPad, or Android at healthtap.com.

I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Medsphere Systems and ChartLogic Merge

Enterprise EHR provider broadens focus to incorporate robust ambulatory electronic medical record, practice management and medical billing solutions

SALT LAKE CITY & CARLSBAD, Calif.–(BUSINESS WIRE)–Medsphere Systems Corporation and ChartLogic, Inc., today announced that they have executed a definitive agreement to merge the two companies. The transaction will expand Medsphere’s existing enterprise healthcare IT products and services to include ChartLogic’s proven ambulatory electronic health record (EHR), practice management and medical billing solutions. ChartLogic will retain its name and operate as a division of Medsphere; the expanded company will offer integrated delivery networks and physician practices an affordable and interoperable choice that meets the clinical needs of providers across the spectrum of care. The transaction is subject to customary closing conditions, and the parties expect to close by June 30, 2016.

Among ChartLogic’s proven suite of products and services is a proven EHR enhanced by modern dictation technology. ChartLogic EHR incorporates superior command and control voice navigation and speech recognition, enabling efficient charting. ChartLogic EHR also includes an extensive library of specialty-oriented vocabularies, templates, macros, and other customization tools. With ChartLogic EHR, providers can complete a unique patient record in 90 seconds or less.

“With this merger of Medsphere and ChartLogic, we’re creating a comprehensive healthcare IT platform that extends from physician practices to acute care hospitals and inpatient behavioral health facilities, ensuring continuity of care and patient information,” said Medsphere President and CEO Irv Lichtenwald. “And we’re doing it affordably so clinics and hospitals can manage their IT and improve care without going deeply into debt, as is often the case with similarly comprehensive systems. We couldn’t be more excited about the merger with ChartLogic and look forward to the success it will create.”

In 2010, ChartLogic was the first EHR in the nation to meet Meaningful Use Stage 1 requirements. The EHR is currently certified for Stage 2, and the ChartLogic team is actively working toward meeting Stage 3 standards. ChartLogic EHR also incorporates e-prescribing, patient portal, labs and document management applications; the complete ChartLogic solution includes medical billing services and a practice management solution: appointment scheduling, claims entry, advanced reporting and eligibility checking.

“ChartLogic has always been about improving the efficiency and quality of care in physician practices, so we’re very excited to join Medsphere and expand that objective to all of healthcare,” said ChartLogic CEO Zubin Emsley. “The simple fact is that the comprehensive solution platforms available to hospitals and integrated delivery networks today are contributing to the high cost of healthcare, not alleviating it. Working with Medsphere, our goal is to enable hospitals and providers to improve care and efficiency without incurring massive ongoing costs.”

Based in Salt Lake City, Utah, ChartLogic recently announced a new contract with Children’s Orthopedic Specialists of Tucson, Arizona. The company also worked with Change Healthcare to incorporate a streamlined lab ordering system into ChartLogic EHR.

Derived from the proven VistA system developed by the U.S. Department of Veterans Affairs and the Indian Health Service, OpenVista® is a comprehensive EHR platform combining both clinical and financial applications. Medsphere’s Government Services Division also applies extensive knowledge of VistA to development and testing work for the VA and Indian Health Service.

About ChartLogic

ChartLogic, Inc., is driven by the desire to improve patient care, office efficiencies and profitability for the physician practice. Since 1994, ChartLogic has been developing and delivering healthcare technology solutions. The company offers a full ambulatory EHR suite, including electronic medical record, practice management, e-prescribing, patient portal and more, as well as offering complete medical billing services which take care of the claims continuum while maximizing revenue and minimizing costs. ChartLogic is known for its proprietary command-and-control methodology that allows users to create notes fast and efficiently. The company is based in Salt Lake City, Utah, and is privately held.

For additional information, visit www.chartlogic.com or call 888-337-4441.

About Medsphere

Founded in 2002 and based in Carlsbad, Calif., Medsphere Systems Corporation is an organization of committed clinical and technology professionals working to make quality healthcare IT solutions accessible to organizations of virtually any size, shape or budget. Medsphere’s OpenVista is an acute and inpatient behavioral health-oriented portfolio of clinical products and services that leverages the VistA EHR system developed by the Department of Veterans Affairs (VA) and the Indian Health Service (IHS). Medsphere’s Government Services Division also applies that VistA expertise to development and testing projects for the VA, IHS and international customers.

Medsphere also enables better ambulatory care via physician practice EHR, revenue cycle management (RCM) and practice management systems and services. Using a vendor-independent approach to helping hospitals solve critical challenges, thePhoenix Health Systems division provides a host of healthcare IT services, including systems implementation, compliance project management, service desk, end-user device management, infrastructure support, application management and IT leadership.

Whatever your healthcare IT challenge, Medsphere has a solution.

June 28, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

McKesson and Change Healthcare to Form New Healthcare Information Technology Company

  • New entity to combine majority of McKesson Technology Solutions and Change Healthcare into separate company positioned to address the healthcare industry’s emerging and most pressing challenges.
  • Transaction to create new company with $3.4 billion in pro forma combined total annual revenues for the fiscal year ended March 31, 2016.
  • Brings together broad portfolio of complementary capabilities to deliver wide-ranging financial, operational and clinical benefits to payers, providers, and consumers.
  • McKesson and Change Healthcare will own approximately 70% and 30%, respectively, of the new company and will receive cash proceeds of approximately $1.25 billion and $1.75 billion, respectively, following the close of the transaction.
  • The new company will be jointly governed by McKesson and Change Healthcare and is expected to generate in excess of $150 million in annual synergies by the second year following the close of the transaction.

SAN FRANCISCO & NASHVILLE, Tenn.–(BUSINESS WIRE)–McKesson Corporation (NYSE:MCK), a leading global healthcare services and information technology company, and Change Healthcare Holdings, Inc., a leading provider of software and analytics, network solutions and technology-enabled services, today announced the creation of a new healthcare information technology company. The entity will combine substantially all of Change Healthcare’s business and the majority of McKesson Technology Solutions (MTS) into a new company with fiscal year end March 31, 2016 pro forma combined total annual revenues of $3.4 billion.

The new organization brings together the complementary strengths of MTS and Change Healthcare to deliver a broad portfolio of solutions that will help lower healthcare costs, improve patient access and outcomes, and make it simpler for payers, providers, and consumers to manage the transition to value-based care. As a separate entity singularly focused on healthcare technology and technology-enabled services, the new organization will be positioned to better respond to customer needs and deliver next-generation innovations.

McKesson has scheduled a conference call for today June 28, 2016, at 8:45 AM ET, to discuss the transaction. Details for the conference call are included later in this press release. For more information on the transaction, visit http://www.healthtechtransformation.com.

“This is a bold, innovative transaction that creates a company with an enhanced ability to help customers address their increasingly complex financial and clinical challenges,” said John H. Hammergren, chairman and chief executive officer, McKesson Corporation. “The new company will establish a more efficient suite of end-to-end payment and claims solutions, as well as clinical capabilities, while unlocking the value of our MTS businesses in a tax-efficient manner. We look forward to partnering with Change Healthcare’s management team and employees to create this new enterprise and to help customers reduce complexity, lower costs and ultimately provide better care.”

“The combination of these two entities comes at a transformational time in U.S. healthcare,” commented Neil de Crescenzo, president and chief executive officer, Change Healthcare. “Together we will create significant value by bringing together complementary capabilities from both organizations to deliver innovative new solutions for customers, create opportunities for team members at a leading healthcare technology company, and drive advancements that address the three critical areas of cost, quality and outcomes across the healthcare sector.”

The new company will be able to offer health plans and providers a comprehensive suite of end-to-end financial and payment solutions and technologies. In addition, customers will benefit from solutions that help them manage administrative and clinical complexity as they navigate the transition to value-based care. Patients will have better tools that allow them to make more informed decisions, helping them maximize their healthcare dollars and receive high quality care.

“We are extremely pleased to be part of this important new company,” said Neil P. Simpkins, senior managing director of Blackstone. “The innovative track records and forward-thinking experiences of both organizations create a truly unique opportunity for positive impact across the healthcare ecosystem.”

Transaction Terms and Structure

Under the terms of our agreement, McKesson will contribute the majority of its McKesson Technology Solutions businesses to the new company, with the exception of RelayHealth Pharmacy and its Enterprise Information Solutions (EIS) division, which will be retained by McKesson. McKesson separately announced today that it will explore strategic alternatives for its EIS division.

Change Healthcare will contribute all of its businesses to the new company, with the exception of its pharmacy switch and prescription routing business, which will be owned separately by the current Change Healthcare stockholders. Change Healthcare is currently majority-owned by Blackstone.

McKesson will own approximately 70% of the new company, with the remaining equity stake held by Change Healthcare stockholders, which includes Blackstone and Hellman & Friedman. McKesson and Change Healthcare stockholders will jointly govern the new company and John H. Hammergren will serve as chairman. Neil de Crescenzo will serve as chief executive officer, joined by an experienced management team comprised of leaders from both McKesson and Change Healthcare.

Financial Highlights

The transaction unlocks value for McKesson and Change Healthcare stockholders by creating a new company with a singular focus on healthcare technology and technology-enabled services, and is expected to generate in excess of $150 million in annual synergies by the second year following the close of the transaction.

The new company has received commitments for $6.1 billion of funded debt related to this transaction, with proceeds to be used to repay approximately $2.7 billion of existing Change Healthcare debt, make $1.25 billion in cash payments to McKesson and make $1.75 billion in cash payments to Change Healthcare’s stockholders, with the remainder to be used for transaction-related expenses.

The transaction is subject to closing conditions, including antitrust clearance and the completion of audited financial statements of the MTS businesses being contributed to the new company, and is expected to close in the first half of calendar year 2017. The agreement provides that McKesson and Change Healthcare will take steps to launch an initial public offering in the months following the close of the transaction, subject to market conditions. Thereafter, McKesson expects to exit its investment in the new company in a tax-efficient manner.

Conference Call Details

McKesson has scheduled a conference call for today June 28, 2016, at 8:45 AM ET to discuss the transaction. The dial-in number for individuals wishing to participate on the call is 719-234-7317. Craig Mercer, senior vice president, Investor Relations, McKesson Corporation, is the leader of the call and the password to join the call is ‘McKesson’. The live webcast and supplementary slide presentation for the conference call can be accessed on the company’s Investor Relations website athttp://investor.mckesson.com.

A telephonic replay of this conference call will be available for five calendar days. The dial-in number for individuals wishing to listen to the replay is 719-457-0820 and the pass code is 2040084.

About McKesson Corporation

McKesson Corporation, currently ranked 5th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. McKesson partners with payers, hospitals, physician offices, pharmacies, pharmaceutical companies, and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com.

About Change Healthcare

Change Healthcare is a leading provider of software and analytics, network solutions and technology-enabled services that optimize communications, payments and actionable insights designed to enable smarter healthcare. By leveraging its Intelligent Healthcare Network™, which includes the single largest financial and administrative network in the United States healthcare system, payers, providers and pharmacies are able to increase revenue, improve efficiency, reduce costs, increase cash flow and more effectively manage complex workflows. Learn more at www.changehealthcare.com.

About Blackstone

Blackstone has been a global leader in private equity since 1985, with $95 billion of assets under management. Blackstone uncovers value by identifying great companies and enhancing their performance by providing strategic capital and outstanding management talent. Blackstone aims to grow stronger enterprises, create jobs, and enable its portfolio companies to build lasting value for its investors, their employees and all stakeholders.

Blackstone is one of the world’s leading investment firms. It seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. This is done by using extraordinary people and flexible capital to help companies solve problems. Its asset management businesses, with over $340 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Navicure Partners with Bain Capital Private Equity to Continue Growth and Expand Healthcare Technology Platform

Investment to fuel growth from new products and expansion to new market segments

DULUTH, GA and BOSTON, June 15, 2016 – Navicure, a leading provider of cloud-based claims management and patient payment solutions for physician practices and hospitals, today announced the signing of a definitive agreement to receive a strategic investment from Bain Capital Private Equity, a leading global private investment firm.  Financial terms of the private transaction were not disclosed.

Navicure, which is headquartered in Duluth, Georgia, will continue to be led by current CEO and founder, James M. Denny, Jr. and his executive team.  They will retain a meaningful interest in the business.  Selling shareholders include JMI Equity and other minority investors.

Navicure’s subscription-based software solutions help healthcare organizations of all sizes increase revenue, accelerate cash flow, and reduce the costs associated with managing insurance claims and patient payments.  Serving more than 90,000 healthcare providers nationwide, Navicure’s integrated revenue cycle management platform automates accounts receivable processes, and assures timely and accurate billing and collection from payers and patients.  The Company’s solutions help healthcare providers effectively handle claims management, patient eligibility verification, remittance and denial management, appeals, posting, reporting and analysis, and patient payment collections at and near the time of service.

Denny, who founded the business in 2001, said about the partnership, “We are proud that Navicure, for over 15 years, has helped thousands of healthcare organizations from large health systems to solo practices improve their financial results with less effort through the use of our SaaS-based solutions. Their success is our success.  We remain committed to our mission of developing innovative solutions that enable our clients to stay one step ahead. We believe the resources and experience of Bain Capital Private Equity give us an important advantage as we continue to grow our business and deliver an even wider array of differentiated solutions to our clients.”

Bain Capital Private Equity has a history of successful investments in a variety of healthcare and information technology businesses including Applied Systems, Viewpoint Construction Software, Blue Coat Systems, BMC Software, HCA Healthcare, Beacon Health Options, Physio-Control, Quintiles Transnational and CRC Health Group.

Chris Gordon, a Managing Director on Bain Capital Private Equity’s healthcare industry team, said about the investment, “Jim Denny and his team are at the forefront of developing innovative solutions that help healthcare providers manage an increasingly complex healthcare reimbursement ecosystem.  Leveraging technology and data to automate revenue cycle management is vital in light of economic pressure from payers, the shift of more payments to consumers, and the important role providers play in managing the cost and quality of healthcare.”  David Humphrey, Managing Director on Bain Capital Private Equity’s TMT industry team, added, “Navicure’s SaaS platform gives the Company the unique ability to provide clients with cutting-edge solutions combined with excellent service and exceptional financial results.”

The transaction is expected to close in July 2016.  Aeris Partners LLC served as the exclusive M&A advisor, and Jenner & Block acted as legal counsel, to Navicure. Ropes & Gray LLP is serving as legal counsel, and PwC LLP is serving as accounting advisor to Bain Capital Private Equity.  Committed financing for the transaction is being provided by Antares Capital serving as administrative agent and lead arranger, and Bain Capital Credit, Capital One Healthcare and NXT Capital serving as joint lead arrangers.

June 15, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Nokia and Withings: Connecting People to Better Health

By Ramzi Haidamus, President Nokia Technologies

Today is a day to celebrate! Over the years, many of you have shared with us your love for Nokia. We’ve heard so many great stories about the coolest Nokia device you ever owned — something that helped define your life, make it better, more fun, and more connected to the people and things that matter to you most. Your continued enthusiasm is just one of the reasons we’re thrilled to announce some very big news today.

We’re now starting a new chapter as a company, this one focused on connecting you to better health through technology. We aim to help you lead a happier, healthier life through the kind of beautifully designed products that you expect from Nokia.

To help us do this as fast as possible, we will be welcoming Withings into the Nokia family. A leader in digital health products and apps designed to improve everyday well-being and long term health, Withings will combine perfectly with Nokia’s heritage of mobility and connectivity.

Withings products already help people manage every aspect of their health and lead a more balanced life. Their products allow you to measure how your lifestyle is affecting your wellness — how well you’re sleeping, how many calories you’re burning, how many steps you’re taking — and go beyond the numbers to give you information that matters. They help you understand how your body responds to activity and changes — the impact your activity is having on your body temperature, your weight, your blood pressure and your heart. And they do it with such a beautiful design that you love to wear them anywhere — at work, at home, or even at the opera.

Please stay tuned for more news about this new chapter for Nokia. We’re thrilled to be welcoming the Withings team to Nokia Technologies and help spread the word about all the awesome products they’re building. Together, we’ll take digital health products beyond counting and tracking to help people everywhere connect to healthier and happier lives.

++++

Nokia plans to acquire Withings to accelerate entry into Digital Health

Espoo, Finland – Nokia has announced plans to acquire Withings, a pioneer and leader in the connected health revolution with a family of award-winning digital health products and services to help people all over the world lead healthier, happier and more productive lives. Withings would be part of our Nokia Technologies business.

“We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market,” said Rajeev Suri, president & CEO of Nokia. “With this acquisition, Nokia is strengthening its position in the Internet of Things in a way that leverages the power of our trusted brand, fits with our company purpose of expanding the human possibilities of the connected world, and puts us at the heart of a very large addressable market where we can make a meaningful difference in peoples’ lives.”

World Health Organization figures show cardiovascular disease as today’s number one cause of death, with more than a billion adults around the world living with uncontrolled hypertension. Diabetes now affects more than one in twelve adults worldwide, a four-fold increase since 1980. Healthcare is expected to be one of the largest vertical markets in the Internet of Things, with analysts forecasting that mobile health, with a CAGR of 37%, will be the fastest growing health care segment from 2015-2020.

“Withings shares our vision for the future of digital health and their products are smart, well designed and already helping people live healthier lives,” said Ramzi Haidamus, president of Nokia Technologies. “Combining their award-winning products and talented people with the world-class expertise and innovation of Nokia Technologies uniquely positions us to lead the next wave of innovation in digital health.”

The combination of innovative products from Withings and the Digital Health business will also ensure the ongoing renewal of Nokia Technologies’ world class IPR portfolio.

Withings was founded by Chairman Eric Carreel and CEO Cedric Hutchings in 2009 and is headquartered in France, with approximately 200 employees across its locations in Paris, Cambridge, US and Hong Kong. Withings’ portfolio of regulated and unregulated products includes activity trackers, weighing scales, thermometers, blood pressure monitors, home and baby monitors and more, and is built on a sophisticated digital health platform, providing insights to empower people to make smarter decisions about the health and wellbeing of themselves and their families. Withings’ own products are complemented by an ecosystem of more than a hundred compatible apps.

“Since we started Withings, our passion has been in empowering people to track their lifestyle and improve their health and wellbeing,” said Cédric Hutchings, CEO of Withings. “We’re excited to join Nokia to help bring our vision of connected health to more people around the world.”

The Nokia brand continues to be recognized, valued and trusted by consumers, built on a heritage of beautifully designed, innovative and reliable technology in the service of people around the world to help real human needs.

The planned transaction values Withings at EUR 170 million and would be settled in cash and is expected to close in early Q3, 2016 subject to regulatory approvals and customary closing conditions.

Sources:

World Health Organisation: Diabetes fact sheet; Cardiovascular diseases fact sheet; Global Health Observatory data.

P&S Market Research, “Global Digital Health Market Size, Share, Development, Growth and Demand Forecast to 2020.” November 2015

About Nokia Technologies
Nokia Technologies is Nokia’s advanced technology and licensing business. Formed in 2014, TECH builds upon our solid foundation of industry-leading licensing and technology R&D capabilities. By focusing on Digital Health, Digital Media, Brand Licensing, and Patent Licensing, TECH is expanding the human possibilities of the ever-evolving world of technology. In 2015, Nokia Technologies launched OZO, the world’s first virtual reality (VR) camera designed for professionals.

About Nokia
Nokia is a global leader in the technologies that connect people and things. Powered by the innovation of Bell Labs and Nokia Technologies, the company is at the forefront of creating and licensing the technologies that are increasingly at the heart of our connected lives.

With state-of-the-art software, hardware and services for any type of network, Nokia is uniquely positioned to help communication service providers, governments, and large enterprises deliver on the promise of 5G, the Cloud and the Internet of Things. http://nokia.com

April 26, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

e-MDs to Acquire Ambulatory Software Technology Assets from McKesson

Austin, TX – March 9, 2016 – e-MDs, a leading provider of ambulatory electronic medical record (EMR), practice management (PM) software, revenue cycle management (RCM) solutions, and credentialing services, today announced that it has agreed to acquire several software technology assets from McKesson Business Performance Services (McKesson). The McKesson assets include McKesson Practice Choice™, Medisoft®, Medisoft® Clinical, Lytec®, Lytec® MD, and Practice Partner®.

The acquisition will provide its customers with added resources for growth. The combined company’s products and services are projected to be used by nearly 55,000 providers nationwide.

“The McKesson team supporting these products is passionate about the same thing we are ─ helping doctors maintain focus on the patient,” stated Derek Pickell, CEO of e-MDs. “All of us at e-MDs look forward to aligning this team with ours to bring e-MDs’ full suite of solutions to thousands of new providers across the country.”

The acquisition will establish e-MDs as a front-runner in the ambulatory healthcare market, enhancing the company’s future growth and performance potential. Existing e-MDs and the McKesson clients, who use these products, will benefit from working with a company whose primary focus is software and services for small- to medium-sized practices, and the increased depth and breadth of industry knowledge this acquisition affords.

“e-MDs is the perfect fit for these assets because it has award-winning technology that is ideally suited to this customer base,” said Scott Sanner, SVP & GM, McKesson Business Performance Services.

“This acquisition is key to both our growth and diversification strategies,” stated George Kase, Partner with Marlin Equity Partners, the financial backers of e-MDs. “The purchase is in line with our strategy to complement organic growth by making selected strategic acquisitions. It also offers economies of scale allowing us to extend the e-MDs brand into new areas not previously available.”

About e-MDs

e-MDs is a leading provider of integrated electronic health records, practice management software, revenue cycle solution, and credentialing services for physician practices and enterprises. Founded by physicians, the company is an industry leader for usable, connected software that enables physician productivity and a superior clinical experience. e-MDs software has received top rankings in physician and industry surveys including those conducted by the American Academy of Family Physicians’ Family Practice Management, AmericanEHR™ Partners, MedScape®, and Black Book®. e-MDs has a proven track record of positioning clients for success as demonstrated by Meaningful Use attainment in 2011, 2012, 2013 and 2014. According to data provided by CMS, e-MDs clients are attesting in the top proportion of all major vendors. For more information, please visit http://www.e-mds.comhttp://facebook.e-mds.com and https://twitter.com/emds.

March 10, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.