McKesson Corporation, a global health care services and IT company, and Change Healthcare Holdings, a provider of software and analytics, network solutions, and technology-enabled services, recently announced the creation of a new HIT 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 health care 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 health care technology and technology-enabled services, the new organization will be positioned to better respond to customer needs and deliver next-generation innovations.
For more information on the transaction, visit 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,” says John H. Hammergren, chairman and CEO of 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 US health care,” comments Neil de Crescenzo, president and CEO of 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 health care technology company, and drive advancements that address the three critical areas of cost, quality, and outcomes across the health care 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 health care dollars and receive high quality care.
— Source: McKesson Corporation
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