Emdeon has signed a definitive agreement to acquire Capario, a Santa Ana, Calif.-based healthcare technology firm that specializes in cloud-based revenue-cycle management
Emdeon, Nashville, will pay $115 million in cash for Capario, which is backed by Los Angeles-based private investment firm Marlin Equity Partners.
Emdeon President and CEO Neil de Crescenzo, a former Oracle Corp. executive
, said in a news release that the transaction will further expand the company's payment solutions offered to healthcare providers. Emdeon processes about 7 billion transactions annually for hospitals, physicians, payers and other healthcare groups, according to the company.
“With our combined capabilities, Capario will enhance Emdeon's ability to provide a superior data-driven, patient-centric view of administrative elements of the care process, helping to improve outcomes and reduce cost,” he said.
Emdeon's revenue in 2013 hit $1.24 billion. Capario's annual revenue was about $40 million. Pending regulatory approval, the transaction will close in the third quarter.Follow Bob Herman on Twitter: @MHbherman