NASHVILLE, Tenn., Sept. 7 /PRNewswire-FirstCall/ — Emdeon, a provider of healthcare revenue and payment cycle management solutions, today announced it has entered into a definitive agreement to acquire Chamberlin Edmonds & Associates, a provider of government program eligibility and enrollment services to over 200 acute care facilities in 30 states. Chamberlin Edmonds’ technology-enabled services assist hospitals in lowering the incidence of uncompensated care, reducing bad-debt expense and increasing overall cash flow.
Emdeon will acquire Chamberlin Edmonds, a privately held company, for $260 million in cash. The transaction will be financed through the use of unrestricted cash and borrowings under an amendment to Emdeon’s existing credit facility that will be established simultaneously with the closing of the transaction. In connection with the credit facility amendment, Emdeon has entered into an incremental $100 million financing commitment with Citigroup Global Markets.
Headquartered in Atlanta, Georgia, Chamberlin Edmonds has a 24-year track record of patient advocacy and guiding uninsured patients through the complex processes associated with securing reimbursement from Medicaid, Social Security Disability, state disability, charity care and other community benefit programs. Chamberlin Edmonds’ service model includes highly trained professionals, such as staff nurses, trained social services personnel and government program specialists, that are located on-site at a hospital and collaborate closely with the hospital’s revenue cycle team. To support its on-site healthcare representatives, Chamberlin Edmonds utilizes its regional resolution centers and centralized back office infrastructure to deliver cost-efficient and comprehensive eligibility services from initial patient referral through the post-application resolution process.
