BNET Industries
Market Cap:$3.8B
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. FunstonNumber of Employees 1,900
Peer Companies
NAICS Code Data Processing, Hosting, and Related Services: 518210
Recent Events
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Morgan Stanley Upgrades Emdeon EM to Overweight
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Zoll, Sonic Solutions and K-Swiss Jump
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WebMD Announces Completion of Merger with HLTH Corporation
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WebMD Completes Merger Deal With HLTH - Update
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WebMD Health Q3 Profit Rises; Backs FY09 Earnings View - Update
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Oppenheimer & Co. initiates coverage of Emdeon Inc. at 'outperform'
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Aurora Capital to Acquire Porex Corporation, Leader in Porous Plastic Materials Science
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Goldman Sachs Starts Emdeon EM at Neutral
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Brean Murray Carret & Co. LLC reiterates Emdeon Inc. at 'sell'
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Healthy Interest Seen for Emdeon's Debut
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Emdeon Closes The Sentinel Group Acquisition, Implements First Customer in Less than 30 Days
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Emdeon's IPO: Putting a Price Tag on Growth
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Emdeon Acquires eRx Network, LLC
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Emdeon Acquires eRx Network, LLC
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HLTH, WebMD propose merger with help from Raymond James
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WebMD, HLTH Again Try to Merge
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HLTH Corp. to merge into its subsidiary WebMD Health in an all-stock deal
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Market Report -- In Play HLTH
News & Analysis
Filter by
hlth corp. - All News and Analysis
WebMD HLTH Corporation Q3 2009 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions. Our first question comes from Mark Mahaney with Citigroup. Mark Mahaney – Citigroup On the materiality on both the UK launch and the pets vertical, the pets offering, anyway to help us think about how big that can be, what kind of margin...
WebMD HLTH Corp. Q4 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions The first question comes from the line of Mark Mahaney – Citi. Mark Mahaney - Citi Could you give us some detail on the gross margin trends? Typically gross margins have been rising year-over-year consistently for WebMD. They didn’t do that...
HLTH Corporation Q3 2008 Earnings Call Transcript
Question-and-Answer SessionOperator Thank you, sir. Operator instructions. Our first question is from Brian Pitts of Bank of America Securities. Brian Pitts – Bank of America Securities Great. Thanks. Couple of here. Would you talk more specifically about overall pharma budget in Q4 '09 and I know...
HLTH Corp. Q1 2008 Earnings Call Transcript
Question-and-Answer SessionYes sir. [Operator Instructions] Our first question comes from Jennifer Watson at Goldman Sachs. Your question please. Jennifer Watson - Goldman Sachs Great. Thank you. Can you talk a little bit about the trend in advertiser spending that you're seeing. Are existing advertisers continuing to spend more with...
HLTH Q3 2007 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions We will go first to Heath Terry with Credit Suisse. Heath Terry - Credit Suisse Great. Thank you. I was wondering if you could just talk about what kind of changes, what you are seeing as you move up in the rankings on Google and...
HLTH Q2 2007 Earnings Call Transcript
Question-and-Answer SessionOperator Thank you, sir. Today's question-and-answer session will be conducted electronically Operator Instructions And we will go first to Anthony Noto with Goldman Sachs. Megan Barker- Goldman Sachs It's actually Megan Barker on for Anthony. Just one question, on WebMD by our calculation, the CPM...
Emdeon Q1 2007 Earnings Call Transcript
Question-and-Answer SessionOperator Thank you. Operator Instructions. One moment for our first question. Sandy Draper with Raymond James. Your line is open. Sandy Draper - Raymond James Thank you very much, just a couple of quick questions. One on the share count, I missed whether you said...
Emdeon Q4 2006 Earnings Call Transcript
Question-and-Answer SessionOperator Thank you. Operator Instructions. Our first question comes from Alex Alvarez, Goldman Sachs. Your line is open. Alex Alvarez - Goldman Sachs Thank you. It's Alex in for Chris, if I could ask a couple of questions on Business Services? First, what role does...
Emdeon Q3 2006 Earnings Call Transcript
Earnings Call Excerpt Emdeon HLTH Q3 2006 Earnings Call November 2, 2006 4:45 pm ET Executives: Risa Fisher, Vice President, Investor Relations Kevin Cameron, Chief Executive Officer Andrew C. Corbin, Executive Vice President and CFO Anthony Vuolo, Chief Financial Officer ...
Emdeon Q2 2006 Earnings Conference Call Transcript (HLTH)
Question-and-Answer SessionOperator Thank you, we will now begin the question and answer session. [Operator instructions]. Our first question comes from Christopher Mcfadden with Goldman Sachs, your line is open sir. Christopher Mcfadden - Goldman Sachs Thanks very much, two questions. One is the update you could...
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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
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WebMD, HLTH Again Try to Merge
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