McKesson, Change Healthcare create new tech company

McKesson and Change Healthcare are combining businesses into a separate company focused on healthcare technology and technology-enabled services. The new company will be made up of McKesson's information technology business unit and all of Change Healthcare's businesses.

The new company will offer a suite of end-to-end financial and payment solutions and technologies to health plans and providers. It is expected to have pro forma combined total annual revenue of $3.4 billion for the fiscal year ended March 31.

McKesson will own approximately 70 percent of the new company, and Change Healthcare stockholders will own the remaining 30 percent. McKesson and Change Healthcare stockholders will jointly govern the new company, and McKesson chairman, president and CEO John Hammergren will serve as chairman. Neil de Crescenzo, president and CEO of Change Healthcare, will serve as CEO of the new company.

"Together we will create significant value by bringing together complementary capabilities from both organizations to deliver innovative new solutions for customers, create opportunities for team members at a leading healthcare technology company and drive advancements that address the three critical areas of cost, quality and outcomes across the healthcare sector," said Mr. de Crescenzo in a statement.

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