On the Record · Change Healthcare

Change Healthcare acquisitions, on the record

The businesses Change Healthcare bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

Business	Deal	When	Value
SpinCo (PF2 SpinCo, Inc.) / Change Healthcare LLC Joint Venture Word for word“On March 10, 2020, Change Healthcare Inc. combined with a subsidiary of McKesson and the owner of the remaining 58% of the Joint Venture (“SpinCo”) in a two-step all-stock “Reverse Morris Trust” transaction that involved (1) a separation of SpinCo from McKesson followed by (2) the merger of SpinCo with and into Change Healthcare Inc., with Change Healthcare Inc. as the surviving company.” 10-K for 2020	merger	On March 10, 2020	—
Connected Analytics business Word for word“On May 1, 2020, Change Healthcare Inc. completed the sale of its Connected Analytics business for total consideration of $55.0 million (subject to a customary working capital adjustment), including a $25.0 million note receivable from the buyer.” 10-K for 2020	divestiture	On May 1, 2020	total consideration of $55.0 million
eRx Network Holdings, Inc. ("eRx") Word for word“In addition, also on May 1, 2020, Change Healthcare Inc. completed the acquisition of eRx Network Holdings, Inc. (“eRx”) at a purchase price of $212.9 million plus cash on the balance sheet.” 10-K for 2020	acquisition	On May 1, 2020	a purchase price of $212.9 million plus cash on the balance sheet
extended care business Word for word“For the year ended March 31, 2019, the Joint Venture recognized a gain of $111.4 million during the year ended March 31, 2019 related to the sale of its extended care business in July 2018; however, its effect on Change Healthcare Inc.’s loss from equity method investment was almost completely offset by the required write-off of the equity method intangible asset basis differences attributable to this business.” 10-K for 2020	divestiture	July 2018	—
eRx Network Holdings, Inc. Word for word“In May 2020, we exercised our option to purchase and completed the acquisition of eRx Network Holdings, Inc. (“eRx”), a leading provider in comprehensive, innovative and secure data-driven solutions for pharmacies.” 10-K for 2021	acquisition	May 2020	—
PDX, Inc. Word for word“In June 2020, we completed the purchase of PDX, Inc. (“PDX”), a company focused on delivering patient-centric and innovative technologies for pharmacies and health systems.” 10-K for 2021	acquisition	June 2020	—
Nucleus.io Word for word“In August 2020, we completed the acquisition of Nucleus.io, a leader in the development of advanced, fully enabled, cloud-native imaging and workflow technology for total consideration of $35.1 million.” 10-K for 2021	acquisition	August 2020	$35.1 million
Connected Analytics and Capacity Management businesses Word for word“Cash used in investing activities reflects primarily the eRx, PDX and Nucleus.io acquisitions partially offset by the sales of the Connected Analytics and Capacity Management businesses that occurred during the year ended March 31, 2021.” 10-K for 2021	divestiture	during the year ended March 31, 2021	—
ClaimsXten, the Company’s claims editing business Word for word“On April 22, 2022, UnitedHealth Group, as seller, entered into an equity purchase agreement and related agreements relating to the sale of the Company’s claims editing business (“ClaimsXten”) to an affiliate of investment funds of TPG Capital for a base purchase price in cash equal to $2.2 billion (subject to customary adjustments).” 10-K for 2022	agreed divestiture	April 22, 2022	$2.2 billion

As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year ended	Cash paid for acquisitions (net of cash acquired)	Cash received from selling businesses	Goodwill from acquisitions
2020-03-31	−$330.7 million	—	$4.36 billion
2021-03-31	$439.5 million	$115.7 million	$346.3 million

Deal filings since 2016

2022-10-03 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2022-04-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2021-01-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-04-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-03-13 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2020-03-13 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
2020-02-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-07-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-07-02 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
2019-07-02 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets

Read from Change Healthcare’s annual reports (10-K for 2022, 10-K for 2021, 10-K for 2020) and the financial data it files with the SEC, as of 2022-05-26. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.