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McKesson, Change Healthcare to end health IT partnership

McKesson Corp. and Change Healthcare are working to end their partnership, according to a Securities and Exchange Commission filing. 

In March 2017, McKesson and Change Healthcare completed a merger that created a healthcare information technology business. The new company consisted of the majority of McKesson Technology Solutions and substantially all of Change Healthcare's business. The company was called Change Healthcare and was based in Nashville, Tenn.

McKesson, which is based in Irving, Texas, said in the SEC filing it plans to no longer own any portion of the combined Change Healthcare business. In addition, it will give up its ability to appoint directors to Change's board as well as its three current seats on the board.

McKesson is granting its shareholders an opportunity to swap all or a portion of their McKesson's shares for Change.

In a news release announcing the SEC filing, McKesson said it is "an important step in our efforts to unlock value from our investment in the Change Healthcare business for McKesson shareholders."

Change Healthcare said it has filed a registration statement "in connection with the proposed disposition of McKesson's ownership interest to its stockholders in an exchange offer transaction relating to Change Healthcare’s common stock."

Becker's has reached out to both Change Healthcare and McKesson for comment. The article will be updated accordingly.

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