BNET Industries

Last Fiscal Year Sales:$382.6M
  • Public
  • US
Dow Jones Description

We are a leading provider of revenue and payment cycle management solutions, connecting payers, providers and patients in the U.S. healthcare system. Our product and service offerings integrate and automate key business and administrative functions of our payer and provider customers throughout the patient encounter, including pre-care patient eligibility and benefits verification, claims management and adjudication, payment distribution, payment posting and denial management and patient billing and payment collection. Through the use of our comprehensive suite of products and services, our customers are able to improve efficiency, reduce costs, increase cash flow and more efficiently manage the complex revenue and payment cycle process. In 2007, we generated revenues from operations of $808.5 million, Adjusted EBITDA of $182.8 million, net income of $16.0 million and cash flow provided by operations of $95.1 million. Our services are delivered primarily through recurring, transaction-based processes that leverage our revenue and payment cycle network, the single largest financial and administrative information exchange in the U.S. healthcare system. In 2007, we processed a total of 3.7 billion healthcare-related transactions, including approximately one out of every two commercial healthcare claims delivered electronically in the United States. ...

Chief Financial Officer
Mark D. Funston
Number of Employees 1,900
Contact Information

669 River Dr Ctr 2

Elmwood Park, New Jersey 07407

emdeon.com

(201) 703-3400

NAICS Code Data Processing, Hosting, and Related Services: 518210

Recent Events

  • Morgan Stanley Upgrades Emdeon EM to Overweight

    11/16/09 - Bond / Stock Rating - View Story

  • Zoll, Sonic Solutions and K-Swiss Jump

    11/11/09 - Financial Announcement - View Story

  • WebMD Announces Completion of Merger with HLTH Corporation

    11/02/09 - Merger / Acquisition - View Story

  • WebMD Completes Merger Deal With HLTH - Update

    10/23/09 - Joint Venture / Alliance - View Story

  • WebMD Health Q3 Profit Rises; Backs FY09 Earnings View - Update

    11/03/09 - Merger / Acquisition - View Story

  • Oppenheimer & Co. initiates coverage of Emdeon Inc. at 'outperform'

    9/21/09 - Bond / Stock Rating - View Story

  • Aurora Capital to Acquire Porex Corporation, Leader in Porous Plastic Materials Science

    9/21/09 - Joint Venture / Alliance - View Story

  • Goldman Sachs Starts Emdeon EM at Neutral

    9/21/09 - Bond / Stock Rating - View Story

  • Healthy Interest Seen for Emdeon's Debut

    8/11/09 - New Investment - View Story

  • Emdeon Closes The Sentinel Group Acquisition, Implements First Customer in Less than 30 Days

    8/05/09 - Merger / Acquisition - View Story

  • Emdeon's IPO: Putting a Price Tag on Growth

    8/14/09 - Financial Announcement - View Story

  • Emdeon Acquires eRx Network, LLC

    7/02/09 - Merger / Acquisition - View Story

  • Emdeon Acquires eRx Network, LLC

    7/02/09 - Merger / Acquisition - View Story

News & Analysis

earnings and hlth corp. - All News and Analysis

Decision Makers

Name (plus bio) Position
Mark D. Funston Chief Financial Officer
Thomas P. Apker COO
Charles Mele General Counsel, Secretary & Executive Vice President
Christopher Lanning Secretary & Executive Vice President
David Libardi Senior Vice President of Sales
Paul K Liou Senior Vice President Information Technology
Paul Turner Vice President Operations
Heather Cannon Buyer
Martin J. Wygod Co-CEO
Mark J. Adler Director
Paul A. Brooke Director

Board of Directors

Name (plus bio) Position
Andrew C. Corbin Board of Directors
Arthur L. Lehrer Board Member
Herman Sarkowsky Board Member
James V. Manning Member of Board of Directors
Joseph E. Smith Board Member
Kevin M. Cameron Board of Directors
Neil F. Dimick Board of Directors
Roger Holstein Board of Directors

Mark D. Funston has served as Executive Vice President and Chief Financial Officer of our company since November 2006 and of our WebMD Health Corp. subsidiary since August 11, 2007. Prior to joining HLTH, Mr. Funston was Interim Chief Financial Officer of Digital Harbor, Inc., a privately held software company, from November 2005. Prior to that, Mr. Funston served as Chief Financial Officer of Group 1 Software, Inc., a publicly traded software company, from 1996 until its acquisition by Pitney Bowes in 2004. From 1989 to 1996, Mr. Funston was Chief Financial Officer of COMSAT RSI, Inc. (formerly Radiation Systems, Inc.), a publicly traded telecommunications manufacturing company acquired by COMSAT Corporation in 1994.

Organization Position Status
Hlth Corporation Chief Financial Officer Current
The Software Company, Inc. Chief Financial Officer Former
Digital Harbor, Inc. Interim Chief Financial Officer Former

Organization Position Status
Hlth Corporation COO Current

"Charles A. Mele has been Executive Vice President, General Counsel and Secretary of our company since January 2001 and has served in senior executive positions for our company and predecessor companies since 1995. "

Organization Position Status
Hlth Corporation General Counsel, Secretary & Executive Vice President Current
Hlth Corporation Secretary Current
Synetic, Inc. Executive Vice President Former
Synetic, Inc. Manager Former
Hlth Corporation General Counsel Former

Organization Position Status
Hlth Corporation Secretary & Executive Vice President Current

A fellow sales leader, Dave is currently a Senior Vice President of Sales for Emdeon Corporation, formerly WebMD. Dave shares nixXsar's steadfast belief in providing customer value and results through disciplined sales processes. He is trusted advisor to his both his clients and his colleagues. Prior to joining WebMD, Dave was the Vice President of Sales for Ceridian Corporation in Atlanta. Dave holds a BA from Williams College and a MA from Columbia University.

Organization Position Status
Hlth Corporation Senior Vice President of Sales Current
Columbia University MA Former
Williams College BA Former

Mr. Liou oversees the design, development and operation of Medi, Inc's technology organization. He has in-depth understanding of healthcare information processing and software development processes. Prior to joining Medi, Mr. Liou designed and developed a suite of EDI applications at BMS that processes millions of transactions per day in over 25 countries. Prior to dedicating his career in software applications, Mr. Liou studied Combinatorial and Parallel Algorithms while researching the complexity class of decision problems in NP-Completeness and Graph theory. A number of his research publications have been included in the Society for Industrial and Applied Mathematics Journal and other leading computer science journals. Mr. Liou received a Master of Science degree in Computer Science from Penn State University and a B.S.E. in Computer Science and Information Engineering from National Taiwan University.

Organization Position Status
Medi, Inc Senior Vice President Information Technology Current
Hlth Corporation Senior Vice President Information Technology Current
The Pennsylvania State University Master of Science Degree In Computer Science Former

Organization Position Status
Hlth Corporation Vice President Operations Current

Heather Cannon is a buyer for Emdeon Corporation, formerly WebMD Corporation. She has been at this position for two years after recently getting her BS in Organizational Communications at Middle Tennessee State University . Heather has been a member of the ISM Nashville Affiliate since 2004 and this is her first year on the Board of Directors. Currently Heather is working on earning her MBA degree. She lives in Murfreesboro and enjoys sewing, crafts, reading & the antics of her three pets: a Canary bird named Gatsby, a Maine Coon cat named Bandit, and a Papillion dog named Gypsy. Heather is also a volunteer for Read to Succeed of Rutherford County teaching adults to read.

Organization Position Status
Hlth Corporation Buyer Current
Smart Nashville, Inc. Board of Directors Current

Array

Organization Position Status
River Edge Farm LLC President Current
Hlth Corporation Chairman of the Board Current
Wbmd.Com Chairman of the Board of Directors Current
WebMD Health Corporation Chairman Current
WebMD Health Corporation Board of Directors Former

Organization Position Status
Hlth Corporation Board of Directors Current
The BISYS Group, Inc. Chief Financial Officer Former
Hlth Corporation Cfo & Executive Vice President Former
General Motors Corporation retailer Former

Arthur Lehrer is a visionary leader whose 35 years of healthcare experience have focused on improving payers' cost-effectiveness and enhancing the interaction between users and information technology systems. His accomplishments since joining ViPS in 1983 have resulted in significantly increased productivity and efficiency for healthcare payers, the Medicare Program and for ViPS. Mr. Lehrer was named President of ViPS in June, 2006. In this capacity, Mr. Lehrer has responsibility for the entire VIPS organization, overseeing ViPS corporate software and business solutions development, as well as setting strategic direction for both the government and commercial sectors. Previously, he served as general manager of ViPS' Government and consulting divisions. Under his leadership, ViPS Government Solutions Group successfully expanded its core business of supporting Medicare Part B claims processing systems to include Durable Medical Equipment (DME) and Part A systems support, claims automation tools, fraud and abuse software applications, and a substantial consulting practice focused on data warehousing and related business intelligence solutions. Prior to joining ViPS, Mr. Lehrer obtained firsthand knowledge of healthcare insurance programs and claims processing systems at two major insurers: Metropolitan Life Insurance Company and Empire Blue Cross and Blue Shield.

Organization Position Status
ViPS Inc. President Current
Hlth Corporation Board Member Current
ViPS Inc. Chief Executive Officer Former
ViPS Inc. General Manager, Government Solutions Group Former

"Herman Sarkowsky has been a director of our company since November 2000 and, prior to that, was a member of a predecessor company's Board of Directors for more than five years. Mr. Sarkowsky has been President of Sarkowsky Investment Corporation, a private investment company, for more than five years. "

Organization Position Status
Hlth Corporation Board Member Current
Synetic, Inc. Manager Former
Synetic, Inc. Director Former

Organization Position Status
Wbmd.Com Director Current
Hlth Corporation Member of Board of Directors Current
WebMD Health Corporation Board Member Former

"Joseph E. Smith has been a director of our company since September 2000. Mr. Smith served in various positions with Warner-Lambert Company, a pharmaceutical company, from March 1989 to September 1997, the last of which was Corporate Executive Vice President and a member of the Office of the Chairman and the firm's Management Committee. Mr. Smith serves on the Board of Directors of Par Pharmaceutical Companies, Inc., a manufacturer and distributor of generic and branded pharmaceuticals, and on the Board of Trustees of the International Longevity Center, a non-profit organization. He also serves as a director of Esprit Pharma, Inc., a privately-held specialty pharmaceutical firm. "

Organization Position Status
Hlth Corporation Board Member Current
Esprit Pharma Director Current
Symphony Neuro Development Company Director Current
Par Pharmaceutical Companies, Inc. Director Current

"Kevin M. Cameron has served as a director of our company since October 2004. From October 2004 until February 2008, Mr. Cameron also served as CEO of HLTH Corporation. From November 2005 until November 2006, Mr. Cameron also served as Acting CEO of Emdeon Business Services, which was then one of our segments. Mr. Cameron has held senior executive positions at our company and its predecessors since April 2000. From January 2002 until October 2004, Mr. Cameron was Special Advisor to the Chairman. From September 2000 to January 2002, he served as Executive Vice President, Business Development of our company and, in addition, from September 2001 through January 2002, was a member of the Office of the President. From April 2000 until its merger with our company in September 2000, Mr. Cameron served as Executive Vice President, Business Development of a predecessor to HLTH Corporation. Prior to April 2000, Mr. Cameron was a Managing Director of the Health Care Investment Banking Group of UBS and held various positions at Salomon Smith Barney, which is now part of Citigroup. "

Organization Position Status
Hlth Corporation Board of Directors Current
Hlth Corporation CEO Former
Hlth Corporation Member, Office of the President Former
Hlth Corporation Executive Vice President, Business Development Former
Hlth Corporation Senior Executive Former
Salomon Smith Barney, Inc. Former
Hlth Corporation Special Advisor To the Chairman Former

Organization Position Status
Red Abbey, LLC Senior Advisor Current
Wbmd.Com Director Current
The Medical Group Board of Directors Current
WebMD Health Corporation Board of Directors Current
San Diego Cancer Center Medical Director Former
Red Abbey, LLC Scientific Advisory Board Member Current
San Diego Cancer Research Institute CEO Former
University of Pennsylvania MD Former
Yale University BA Former
University of California, San Diego Medical Center Physician, Scientist Fellow Former
Ucsd Cancer Center Board of Directors Former
San Diego Cancer Research Institute Director Former
WebMD Health Corporation Board Member Former
Yale University B.A. Former

Organization Position Status
International Technidyne Corp. (Itc) Director of Our Company Current
Thoratec Corporation Director and Chairman of the Board Current
Alliance Imaging, Inc. Chairman Current
WebMD Health Corporation Board of Directors Current
Wbmd.Com Director Current
Mylan Inc. Board of Directors Current
Hlth Corporation Board of Directors Current
Alliance Health Care Services, Inc Director Current
Bergen Brunswig Corporation Chief Financial Officer Former
AmerisourceBergen Corporation Chief Financial Officer Former
Bergen Brunswig Corporation Senior Executive Vice President Former
AmerisourceBergen Corporation Executive Vice President Former
Touche, Inc. Corporate Auditor Former
Bergen Brunswig Corporation Pharmaceutical Distributor Former
Bergen Brunswig Corporation Director Former
Alliance Imaging, Inc. Board of Directors Former
Investment Company Board of Directors Former

Paul A. Brooke has served as our chairman of the board and chief executive officer since our inception. Mr. Brooke has served as a managing member of PMSV Holdings, LLC, a private investment firm, since 1993. He also served as a venture partner of MPM Capital, a venture capital firm specializing in the healthcare industry, from 1997 to 2006. Mr. Brooke has also served as an advisory director for Morgan Stanley & Co., Inc. since April 2000. From March 1999 to May 2000, Mr. Brooke served as a Managing Director of Tiger Management LLC, a money management hedge fund. From March 1983 to March 1999, he served as a Managing Director and the Global Head of Healthcare Research and Strategy at Morgan Stanley. Mr.

Organization Position Status
Alsius Corporation Chairman and CEO Current
Alsius Corp Chief Executive Officer Current
Incyte Corporation Managing Member, Pmsv Holdings, LLC, Advisory Director, Morgan Stanley, Venture Partner, Mpm Capital Current
Alsius Corp Chairman of the Board Current
Incyte Genomics, Inc. Board Member Current
Houstonpharma, Inc. Director Current
Phillystocks.Com Director Current
ViroPharma Incorporated Board Member Current
Incyte Corporation Board of Directors Current
Vce Capital, Inc. Board of Directors Current
Hlth Corporation Director Current
Tiger Management LLC Managing Director Former
MPM Capital Limited Partnership Venture Partner Former
Morgan Stanley Advisory Director Former
Alsius Corporation Director Former
Columbia University M.A. Former
Columbia College A.B. Former

Organization Position Status
Hlth Corporation Board of Directors Current

Executive News

  • WebMD, HLTH Again Try to Merge

    Health Data Management - 6/22/09 - View Story

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