Dear Clients and Friends,
Today, our client NaviNet, the nation’s largest real-time healthcare communication network, signed an agreement to be acquired by Lumeris Corporation, the innovative, cloud-based health IT provider; Pittsburgh-based, Highmark Inc., Horizon Blue Cross Blue Shield of New Jersey (Horizon), and southeastern Pennsylvania’s Independence Blue Cross (IBC).
We are pleased to have been the financial advisor to NaviNet on this multi-party, transformative transaction.
NaviNet securely links leading health plans, industry partners and the government to hundreds of thousands of physicians, clinicians and other healthcare professionals. More than 75 percent of the nation’s physicians are enrolled in the NaviNet Network, which touches 121 million covered lives. The new partnership expects to leverage NaviNet’s best-in-class network and use the new enhanced capabilities from Lumeris to partner with physicians and hospitals, helping them facilitate the administrative, clinical, and financial tasks necessary to deliver more accountable care. They expect to support new payment models; enhance patient safety; and increase physician and patient satisfaction while working to lower healthcare costs. The transaction is expected to close in about 30 days and is subject to customary closing conditions.
The NaviNet press release can be read here. We thought you would be interested.