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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Blackstone Inc | NYSE:BX | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 3.51 | 2.97% | 121.50 | 121.725 | 118.67 | 119.19 | 3,417,734 | 00:18:31 |
From May 2019 to May 2024
Health-care giant McKesson Corp. on Tuesday said it plans to form a health-care information-technology joint venture that it expects to take public later in an initial public offering.
The planned company will combine most of McKesson's technology segment with the bulk of Change Healthcare Holdings Inc., which is majority owned by Blackstone Group LP.
McKesson would own 70% of the new company, with the rest owned by Change Healthcare's shareholders, including Blackstone and Hellman & Friedman LLC.
The new company has received commitments for $6.1 billion of debt, with proceeds targeted to repay $2.7 billion of Change Healthcare's debt, as well as make payments of $1.25 billion to McKesson and $1.75 billion to Change Healthcare's holders.
The deal excludes McKesson's RelayHealth Pharmacy business and its enterprise-information segment. McKesson separately said it plans to explore strategic options for the EIS unit.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
June 28, 2016 09:25 ET (13:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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