Change, McKesson division joining forces

Change Healthcare Holdings plans to combine with most of the information technology arm of $19 billion holding company McKesson to form a new venture that will in the past year would have produced $3.4 billion in revenues.

Investment firms Blackstone Group and Hellman & Friedman, which own the vast majority of Change Healthcare (formerly known as Emdeon), will alongside the company’s management own about 30 percent of the new company. The venture will market services to help providers and insurers be more efficient in processing transactions and adapt to the industry’s shift toward value-based care.