Emdeon Inc., a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions, today announced it has completed the re-pricing of its existing senior secured credit facilities. In addition, Emdeon borrowed $80 million of additional term loans for general corporate purposes, including potential acquisitions.
The new interest rate on the term loans is LIBOR plus 3.75%, compared to the previous interest rate of LIBOR plus 5.50%. The new interest rate on the revolving loans is LIBOR plus 3.50% (with a potential step-down to LIBOR plus 3.25% based upon Emdeon's total first lien net leverage ratio), compared to the previous interest rate of LIBOR plus 5.25% (with a potential step-down to LIBOR plus 5.00% based upon Emdeon's total first lien leverage ratio). The term loans remain subject to a LIBOR floor of 1.25%, and there continues to be no LIBOR floor on the revolving loans.
Emdeon is a leading provider of revenue and payment cycle management and clinical information exchange solutions, connecting payers, providers and patients in the U.S. healthcare system. Emdeon's offerings integrate and automate key business and administrative functions of its payer and provider customers throughout the patient encounter. Through the use of Emdeon's comprehensive suite of solutions, which are designed to easily integrate with existing technology infrastructures, customers are able to improve efficiency, reduce costs, increase cash flow and more efficiently manage the complex revenue and payment cycle and clinical information exchange processes. For more information, visit www.emdeon.com .