Deal Synopsis:
The Lenox Group advised HealthCom Partners, LLC (“HealthCom”) on its sale to McKesson Corp.’s, (MCK: NYSE), Transaction Solutions Hub division. HealthCom, headquartered in Chicago, Illinois, is a leading healthcare technology company focusing on patient-friendly billing. HealthCom’s technology employs an ASP model which effectively outsources the business office of a hospital providing both paper and online billing solutions. HealthCom’s product has produced improved accounts receivable turns, lowered bad debt expense and reduced the cost of the hospital’s billing operation at such institutions as Stanford University Medical Center, Northwestern Memorial Hospital and Cedars Sinai Medical Center.