Emdeon gets term loan, bridge loans commitments for Altegra purchase

By Sara Rosenberg

New York, July 9 – Emdeon Inc. disclosed in an 8-K filed with the Securities and Exchange Commission on Thursday that the debt commitment for its acquisition of Altegra Health Inc. includes an incremental senior secured term loan and senior unsecured bridge loans.

The debt commitment combined with an equity commitment from Blackstone Capital Partners totals $805 million.

Under the agreement, Altegra is being bought from Parthenon Capital Partners for about $910 million.

Other funds for the transaction will come from cash on hand.

Closing is expected in the third quarter, subject to customary closing conditions, including expiration or early termination of the waiting period under the Hart-Scott-Rodino Act.

Emdeon, a Blackstone and Hellman & Friedman portfolio company, is a Nashville-based provider of health care revenue and payment cycle management and clinical information exchange solutions. Altegra Health is a Miami Lakes, Fla.-based provider of technology-enabled, next generation payment solutions to health care providers.

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