Executives at Nashville-based Emdeon say they plan to issue $250 million of debt to help fund their planned $910 million acquisition of Altegra Health. The six-year notes are being marketed via a private offering. Florida-based Altegra markets analytics and risk management services to insurers and in the past 12 months rang up adjusted EBITDA of $59 million on revenues of $212 million. Adding it to Emdeon will grow the company's annual sales to $1.6 billion.
A Hendersonville-based revenue cycle manager has taken over some of the billing services work of a Missouri hospital owned by the Mercy network. Xtend Healthcare's contract comes as Mercy officials reportedly laid off about 40 people at the 886-bed hospital. Read more here.
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