July 23, 2014 3:37 PM ET

Health Care Technology

Company Overview of Emdeon Inc.

Company Overview

Emdeon Inc., through its subsidiaries, provides revenue and payment cycle management and clinical information exchange solutions that connect payers, providers, and patients in the United States healthcare system. Its product and service offerings integrate and automate business and administrative functions for healthcare payers and healthcare providers throughout the patient encounter, including pre-care patient eligibility and benefits verification and enrollment, clinical information exchange, claims management and adjudication, payment integrity, payment distribution, payment posting, and denial management and patient billing and payment processing. The company operates through four segm...

3055 Lebanon Pike

Suite 1000

Nashville, TN 37214

United States

Founded in 2006

4,000 Employees

Phone:

615-932-3000

Key Executives for Emdeon Inc.

Chief Executive Officer
Age: 53
Chief Financial Officer and Principal Accounting Officer
Age: 54
Executive Vice President
Age: 49
Executive Vice President of Payer Services
Age: 49
Executive Vice President of Provider Services
Age: 50
Compensation as of Fiscal Year 2014.

Emdeon Inc. Key Developments

Emdeon Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Impairment Charges for the First Quarter Ended March 31, 2014

Emdeon Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of $319,207,000 compared to $299,359,000 a year ago. Operating income was $14,268,000 compared to $18,607,000 a year ago. Loss before income tax benefit was $24,255,000 compared to $22,808,000 a year ago. Net loss was $2,989,000 compared to $13,451,000 a year ago. Net cash provided by operating activities was $26,667,000 compared to $38,811,000 a year ago. Purchases of property and equipment were $14,511,000 compared to $13,551,000 a year ago. EBITDA was $58,771,000 compared to $65,422,000 a year ago. Adjusted EBITDA was $78,305,000 compared to $76,044,000 a year ago. The increase in revenue was primarily due to business growth. Net loss for the first quarter of 2014 was $3.0 million compared to $13.5 million for the same period in 2013. This decrease in net loss compared to the corresponding prior year period was primarily due to the income tax effects of changes in the company's corporate structure effective in January 2014. The increase in adjusted EBITDA as compared to the same period in 2013 is primarily due to business growth, partially offset by increased investments related to sales and other product development expenses. For the quarter, the company reported impairment of property and equipment of $3,067,000.

Emdeon Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Emdeon Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company announced revenue of $320,115,000 compared to $294,436,000 for the same period a year ago. Operating income was $6,888,000 compared to $27,683,000 for the same period a year ago. Loss before income tax was $26,735,000 compared to $14,031,000 for the same period a year ago. Net loss was $16,473,000 compared to $10,250,000 for the same period a year ago. EBITDA was $55,940,000 compared to $74,554,000 for the same period a year ago. Adjusted EBITDA was $85,548,000 compared to $78,704,000 for the same period a year ago. Increase in revenue was primarily due to business growth. Increase in net loss compared to the corresponding prior year period was primarily due to a charge related to cancelling a product development project and other non-routine charges. For the full year, the company announced revenue of $1,242,567,000 compared to $1,152,313,000 for the same period a year ago. Operating income was $60,984,000 compared to $75,625,000 for the same period a year ago. Loss before income tax was $111,143,000 compared to $118,481,000 for the same period a year ago. Net loss was $74,458,000 compared to $78,335,000 for the same period a year ago. Net cash provided by operating activities was $150,400,000 compared to $78,920,000 for the same period a year ago. Purchases of property and equipment were $71,086,000 compared to $2,054,000 for the same period a year ago. EBITDA was $225,865,000 compared to $240,997,000 for the same period a year ago. Adjusted EBITDA was $323,990,000 compared to $316,424,000 for the same period a year ago. Increase in revenue was primarily due to business growth, including the June 2013 acquisition of Goold Health Systems. Improvement in the net loss was primarily due to business growth and reduced interest rates as a result of the re-pricing of Emdeon's term debt in April 2013.

Emdeon Appoints Randy P. Giles as Executive Vice President, Finance and Announces Chief Financial Officer Transition

Emdeon Inc. announced the appointment of Randy P. Giles as Executive Vice President, Finance effective immediately. After a two month transition period, Emdeon's current Chief Financial Officer, Bob A. Newport, Jr., will be leaving Emdeon to pursue other interests. Following Mr. Newport's departure, Mr. Giles will assume the Chief Financial Officer role. Giles, age 55, comes to Emdeon from Coventry Health Care Inc., where he was Executive Vice President, Chief Financial Officer and Treasurer responsible for all corporate finance functions from 2010 until Coventry was sold to Aetna in 2013.

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