McKesson, Change Healthcare Report Termination Of HSR Act Waiting Period

(RTTNews) - McKesson Corp. (MCK), a healthcare services and information technology company and Change Healthcare Holdings, Inc., a provider of software and analytics as well as network solutions, said that they received notification that the Department of Justice closed its review and terminated the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with the proposed creation of a new healthcare information technology company.

The termination of this waiting period satisfies one of the conditions of the proposed transaction. Subject to satisfaction of these other closing conditions, the acquisition is expected to close in the first half of calendar year 2017.

As previously announced on June 28, 2016, McKesson and Change Healthcare announced the creation of a new healthcare information technology company.

The entity will combine substantially all of Change Healthcare's business and the majority of McKesson Technology Solutions into a new company.

McKesson will own approximately 70 percent of the new company, with the remaining equity stake held by Change Healthcare stockholders, which includes Blackstone and Hellman & Friedman.