LAWFUEL – Law Firm Newswire – HLTH Corporation announced that it completed the sale of its minority interest in Emdeon Business Services to Paul, Weiss client General Atlantic LLC and Hellman & Friedman LLC for $575 million in cash. In the November 2006 transaction, HLTH received approximately $1.2 billion in cash and retained a 48% interest in Emdeon Business Services.
As a result of the completion of the sale of that 48% interest, HLTH has received total proceeds of approximately $1.775 billion in cash for Emdeon Business Services. HLTH Corporation’s businesses are comprised of WebMD Health Corp., ViPS and Porex. The Paul, Weiss team representing General Atlantic includes corporate partners Matt Abbott, Doug Cifu and Dale Sarro, counsel Michele Jenkinson and Claudine Meredith-Goujon, and associates Greg Boyd and Robert Gregor; and tax partner Rick Bronstein and associate Elisabeth Loew.