NASHVILLE, Tenn.--(BUSINESS WIRE)--Change Healthcare Inc. (Nasdaq: CHNG), a leading independent healthcare technology company, today announced the successful completion of McKesson Corporation's ("McKesson") previously announced disposition of its ownership interest in Change Healthcare to McKesson stockholders in an exchange offer transaction.
“We started our journey three years ago, combining Change Healthcare with the majority of the McKesson Technology Solutions businesses to create a leading healthcare information technology company”
As separately announced today by McKesson, McKesson accepted an aggregate of 15,426,537 shares of McKesson common stock in exchange for all 175,995,192 outstanding shares of PF2 SpinCo, Inc. (“SpinCo”) common stock in the exchange offer. Immediately following consummation of the exchange offer, SpinCo was merged with and into Change Healthcare, and each outstanding share of SpinCo common stock was converted into one share of Change Healthcare common stock. As a result, McKesson no longer owns any voting or economic interest in Change Healthcare.
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"We started our journey three years ago, combining Change Healthcare with the majority of the McKesson Technology Solutions businesses to create a leading healthcare information technology company," said Neil de Crescenzo, president and chief executive officer of Change Healthcare. "Today, we are an independent market leader, innovating on our platform to improve clinical, financial and patient engagement outcomes across the U.S. healthcare system. With our established and scaled platform, a strong new business pipeline, a world-class innovation engine and deep customer and partner relationships, we are well positioned to accelerate growth and performance over the coming years."
Details of the results of the exchange offer are available in the following press releases issued this morning by McKesson:
McKesson Announces Preliminary Results of Exchange Offer
McKesson Completes Split-off of Its Interest in Change Healthcare
About Change Healthcare
Change Healthcare (Nasdaq: CHNG) is a leading independent healthcare technology company that provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes in the U.S. healthcare system. We are a key catalyst of a value-based healthcare system, accelerating the journey toward improved lives and healthier communities.Back to HCB News