The Firm represented Alegeus Technologies, LLC, an industry leading provider of consumer directed healthcare solutions and an affiliate of Lightyear Capital LLC, in the sale of its payment and communication solutions (PCS) business through the sale of its wholly owned subsidiary, Texas-based AdminiSource Communications, Inc. (“AdminiSource”), to an affiliate of Emdeon Inc. The sale was completed on December 10, 2014.
AdminiSource provides electronic and print distribution of Explanation of Benefits (EOB), Explanation of Payment (EOP), Electronic Funds Transfer (EFT), Electronic Remittance Advice (835) and other payment related communications on behalf of healthcare payers and check, ACH transaction and electronic virtual card payment solutions for the purpose of delivering payments from healthcare payers, health plans, third party administrators and other similar entities to providers.
The Simpson Thacher team includes Caroline Gottschalk, Erik Wang and Daniel Hulme (M&A); Brian Gluck (Credit); Gary Mandel, Drew Purcell and Taylor Alexander (Tax); Larry Moss and Linda Barrett (Executive Compensation and Employee Benefits); Adeeb Fadil (Environmental); and Lori Lesser and Marcela Robledo (Intellectual Property). Many thanks as well to Michael Holick for his invaluable assistance.