General Atlantic gets $925 million bank commitment to buy Emdeon business services

New York, Sept. 26 - General Atlantic LLC has obtained a commitment for $925 million in bank debt to help fund its acquisition of a 52% interest in Emdeon Corp.'s business services segment.

General Atlantic will also put up $320 million in equity.

The transaction values the unit at $1.5 billion, according to Emdeon, which is retaining a 48% interest.

Citigroup Global Markets, Inc., Deutsche Bank Trust Co. Americas and Bear, Stearns & Co. Inc. have provided commitment letters for the bank debt.

Closing is scheduled for the fourth quarter.

The business services segment provides revenue cycle management and clinical communication services for healthcare.

Emdeon is a healthcare business, technology and information services company based in Elmwood Park, N.J. General Atlantic is a Greenwich, Conn., private equity firm.

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