McKesson, a global healthcare services and information technology company, and Change Healthcare, a provider of software and analytics, network solutions and technology-enabled services, have announced their planned name and brand decision with regard to the previously announced creation of a new healthcare information technology company.
After a thorough strategic and creative review process, the companies have decided the name of the new company will be Change Healthcare. The company’s logo, brand positioning and visual identity will be completely new, reflecting the unification of the two organizations and the launch of a new company. The new brand will be unveiled in its entirety upon the close of the transaction, with a migration process to occur over the following 12 months. The entity will combine substantially all of Change Healthcare’s business and the majority of McKesson Technology Solutions.
“From day one, our intent has been to create a new company uniquely equipped to drive collaborative and positive change across the healthcare industry,” said John Hammergren, chairman and chief executive officer, McKesson Corporation, and previously announced chairman of the new company’s board. “After a thorough evaluation of potential names as well as customer and legal input, we came to the conclusion that ‘Change Healthcare’ best articulates the new company’s mission. It speaks directly to our clients who share our vision for a better healthcare system, and it reinforces the ambitions and spirit of our new company, our great potential and our transformative role in healthcare.”
Upon close, the new company will provide software and analytics, network solutions and technology-enabled services that will help customers obtain actionable insights, exchange mission-critical information, control costs, optimize revenue opportunities, increase cash flow and effectively navigate the shift to value-based healthcare. The new company will be well positioned to enable improved efficiencies and insights before, during and after patient encounters for all major stakeholders across the healthcare system, including commercial and governmental payers, employers, hospitals, physician practices and other providers, laboratories and consumers.
“Today’s healthcare environment is constantly evolving,” said Neil de Crescenzo, president and chief executive officer, Change Healthcare, and previously announced CEO of the new company. “Our customers are seeking proactive ways to provide measurable impact as they navigate through those changes. The Change Healthcare name stood out from a myriad of choices to best communicate our ability to help customers and partners move forward in this ever-evolving landscape—and it captures the commitment of our team members to create a healthier future for our clients and consumers. I believe the opportunity to create an energizing new brand around a clear and distinct name will serve us well as we come together to bring to life the expansive and complementary capabilities of both companies.”
The transaction remains subject to customary closing conditions and is expected to close in the first half of calendar year 2017.