NASHVILLE, Tenn., June 23, 2014 /PRNewswire/ -- Emdeon Inc. today announced it has entered into a definitive agreement to acquire Capario, an innovative company providing industry-leading healthcare technology solutions. Capario will extend Emdeon's ability to help healthcare providers get reimbursed quickly, accurately and cost effectively. Through its proprietary, cloud-based application suite and underlying technology platform CaparioOneSM, Capario's customers comprehensively manage their revenue cycle with a single, integrated solution. With this acquisition, Emdeon will enhance the utility of its Intelligent Healthcare Network™ and provide increased value for customers across the healthcare ecosystem that both companies have served for more than 20 years.
Headquartered in Santa Ana, Calif., Capario's cloud-based platform enables healthcare providers to use a real-time solution to check eligibility, submit and track claims, manage rejections and denials and accept patient payments at the point of care, online or over the phone, all from one integrated platform. CaparioOne provides a robust reporting suite that helps providers monitor performance and identify trends and issues that impact their bottom line.
"Our customers' needs for revenue cycle management solutions are evolving rapidly as reimbursement models change to reflect an ever more outcomes-oriented and patient-centric healthcare system," said Neil de Crescenzo, Emdeon president and CEO. "With our combined capabilities, Capario will enhance Emdeon's ability to provide a superior data-driven, patient-centric view of administrative elements of the care process, helping to improve outcomes and reduce cost. This acquisition will further expand Emdeon's market-leading Intelligent Healthcare Network and accelerate our ability to provide innovative workflow and analytics solutions to improve healthcare providers' revenue cycle management."
Emdeon is the largest intelligent financial, administrative and clinical health information network in the nation, processing more than seven billion transactions with a claims value of $1 trillion annually. Emdeon's Intelligent Healthcare Network reaches 700,000 physicians, 81,000 dentists, 60,000 pharmacies, 5,000 hospitals, 600 vendors, 450 laboratories and 1,200 government and commercial payers.
"We are excited about joining the Emdeon family," said Jim Riley, president and CEO of Capario. "Adding our capabilities to Emdeon's solution portfolio and working together across many segments of the healthcare ecosystem will enhance our growth potential and positive market momentum. Our customers face enormous challenges with the increasingly complex reimbursement environment, as well as ICD-10 and other regulatory influences. We look forward to working with Emdeon to further our mission of helping healthcare providers get paid faster and easier."
Emdeon will acquire Capario, a privately held company principally owned by Marlin Equity Partners, for approximately $115 million in cash. The purchase price will be paid with a combination of available cash and funds under Emdeon's revolving senior credit facility. The acquisition is subject to customary closing conditions, including expiration or early termination of the waiting period under the Hart-Scott-Rodino Act, and is expected to close in the third quarter of 2014.
Emdeon is a leading provider of revenue and payment cycle management and clinical information exchange solutions, connecting payers, providers, pharmacies and patients in the U.S. healthcare system. Emdeon's offerings integrate and automate key business and administrative functions of its payer, provider and pharmacy customers throughout the patient encounter. Through the use of Emdeon's comprehensive suite of solutions, which are designed to easily integrate with existing technology infrastructures, customers are able to improve efficiency, reduce costs, increase cash flow and more efficiently manage the complex revenue and payment cycle and clinical information exchange processes. For more information, visit www.emdeon.com.
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