Business Wire | Nov 30, 2020 04:08PM EST

Change Healthcare Announces Sale of Capacity Management Business to HealthStream

Nov. 30, 2020

NASHVILLE, Tenn.--(BUSINESS WIRE)--Nov. 30, 2020--Today Change Healthcare (Nasdaq: CHNG),a leading independent healthcare technology company, announced the sale of its Capacity Management business to HealthStream, a leading provider of workforce and provider solutions for the healthcare industry.

The sale supports Change Healthcare's stated commitment to focus on and invest in core aspects of its business to fuel growth and advance innovation.

"The sale of the Capacity Management business aligns with our strategy to concentrate on the primary areas of our business to achieve the best outcomes for our customers through the power of the Change Healthcare platform," said Neil de Crescenzo, president and CEO, Change Healthcare. "By placing the Capacity Management business with HealthStream, an innovator with a successful track record, it will be able to carry on its important work within an organization that will continue to support its core mission and strategies."

Change Healthcare's Capacity Management business is a leader in its market, with a focus on nurse staffing, improving patient flow, and predictive modeling for patient demand to help hospitals become more efficient. Notable products in the Capacity Management portfolio include ANSOS, Enterprise Visibility, and Capacity Planner.

The sale is subject to customary closing conditions and is expected to be completed in the coming weeks.

William Blair acted as financial advisor to Change Healthcare on the sale.

About Change Healthcare

Change Healthcare (Nasdaq: CHNG) is a leading independent healthcare technology company, focused on accelerating the transformation of the healthcare system through the power of the Change Healthcare Platform. We provide data and analytics-driven solutions to improve clinical, financial, administrative, and patient engagement outcomes in the U.S. healthcare system. Learn more at changehealthcare.com.

For more information on Change Healthcare, please visit our website, hear from our experts at Insights; Follow us on Twitter; Like us on Facebook; Connect with us on LinkedIn; and Subscribe to us on Libsyn, Apple Podcasts, Google Podcasts, and YouTube.

CHNG-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20201130005832/en/

CONTACT: Media contact: Katherine Wojtecki 630-624-9142 Katherine.wojtecki@changehealthcare.com

CONTACT: Investor Relations: Evan Smith 404-338-2225 Evan.smith@changehealthcare.com