Change Healthcare Mergers and Acquisitions Summary

Information Technology Company

Change Healthcare has acquired 26 companies, including 7 in the last 5 years. A total of 8 acquisitions came from private equity firms. It has also divested 5 assets.

Change Healthcare’s largest acquisition to date was in 2015, when it acquired Altegra Health for $910M. It’s largest disclosed sale occurred in 2006, when it sold Emdeon Practice Services to The Sage Group for $457M. Change Healthcare has acquired in 14 different US states. The Company’s most targeted sectors include information technology (37%) and business services (32%).

Join Mergr and gain access to Change Healthcare’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the information technology sector.

M&A Summary

  • M&A Total Activity26
    • M&A Buy Activity21
    • M&A Sell Activity5
  • Total Sectors Invested 6
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 21
  • M&A Advisors 2

Change Healthcare, Inc.

3055 Lebanon Pike Suite 1000,
Nashville, Tennessee 37214
United States,
(615) 932-3000
www.changehealthcare.com

Change Healthcare, Inc. is a provider of revenue and payment cycle management solutions, connecting payers, providers and patients in the U.S. healthcare system. Emdeon’s product and service offerings integrate and automate key business and administrative functions for healthcare payers and healthcare providers throughout the patient encounter, including pre-care patient eligibility and benefits verification, clinical exchange capabilities, claims management and adjudication, payment integrity, payment distribution, payment posting and denial management, and patient billing and payment processing. Change Healthcare was founded in 2016 and is based in Nashville, Tennessee.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (1.4/yr) # 14 1 2 1 3 - 21
vol $1.4B $1.4B
Sell (0.6/yr) # 2 - 1 - 2 - 5
vol $776M $68M $844M
  26

Most Recent M&A

Company Date Value Type
Change Healthcare, Inc. - ANSOS Staff Scheduling 2020-11-30 68M USD Divestiture
Nashville, Tennessee
PROMETHEUS Analytics 2020-08-26 - Divestiture
Ann Arbor, Michigan · www.prometheusanalytics.net
NucleusHealth LLC 2020-08-18 - Add-on Acquisition
San Diego, California · www.nucleus.io
PDX, Inc. 2020-06-01 - Add-on Acquisition
Fort Worth, Texas · www.pdxinc.com
Change Healthcare, Inc. - Connected Analytics 2020-05-04 - Divestiture
Nashville, Tennessee
Connect America LLC - Patient Access Services 2019-11-21 - Divestiture
Broomall, Pennsylvania
PokitDok, Inc. - Intellectual Property & Other Key Assets 2018-12-18 - Divestiture
San Mateo, California
Change Healthcare, Inc. - Home Care and Hospice Solutions 2018-07-02 - Divestiture
Nashville, Tennessee
National Decision Support Co. 2018-01-18 - Add-on Acquisition
Madison, Wisconsin · www.nationaldecisionsupport.com
Docufill LLC - Credentialing Technology 2017-11-20 - Divestiture
Mayfield Heights, Ohio
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Information Technology 8 (36%) 1.3B (74%) 4 (80%) 387M (46%)
Business Services 7 (32%) 446M (26%) - -
Software 3 (14%) - 1 (20%) 457M (54%)
Internet Software and Services 2 (9%) - - -
Healthcare Services 1 (5%) - - -
Information Services 1 (5%) - - -
Total 22 $1.7B 5 $844M

By Geo

State/Country Buy Value Sell Value
United States 22 1.7B 5 844M
  Tennessee 1 319M 4 387M
  California 4 115M - -
  Texas 3 35M - -
  Florida 2 929M 1 457M
  Illinois 2 41M - -
  Wisconsin 1 - - -
  Utah 1 20M - -
  Pennsylvania 1 - - -
  Ohio 1 - - -
  Michigan 1 - - -
  Maine 1 - - -
  Indiana 1 11M - -
  Georgia 1 260M - -
Total 22 $1.7B 5 $844M

Top M&A Advisors

Financial Deals
Greenhill & Co., Inc.
1
William Blair & Co. LLC
1

Deal Values

buy # Total
$100M to $1B 4 $1.6B
< $100M 5 $126M
TOTAL $1.7B
Largest Altegra Health, Inc.
$910M (2015-08-13)
sell # Total
$100M to $1B 2 $776M
< $100M 1 $68M
TOTAL $844M
Largest Emdeon Practice Services, Inc.
$457M (2006-08-08)

M&A Connections

Deals
Acquired from
Investor(s)
18%
4 (18%)
Strategic(s)
41%
9 (41%)
Divested to
Investor(s)
20%
1 (20%)
Strategic(s)
100%
5 (100%)

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