Emdeon Q4 2006 Earnings Call Transcript

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2007-02-22 17:25:37.0

Tags: HLTH Corp.

Question-and-Answer Session

Operator

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, the parent company, play in helping Business Services with the day-to-day tactical issues of running that business? And then secondly, what role is Emdeon playing? And how do you interact with General Atlantic in terms of helping define the long-term strategy for that business?

Marty Wygod

Kevin, you want to take that?

Kevin Cameron

Sure. Well, on a day-to-day basis, we have our Board of Directors right now that we share equally with General Atlantic. And, we have a CEO search that we're in the latter stages for Business Services. We have a great management team down there that's running this business today with my aid and the aid of some folks at General Atlantic. So, that's what happens on a day-to-day basis.

In terms of how we work with General Atlantic, strategically, everybody's got their ideas and something to offer. Again, I think the management team at Business Services is quite strong. The strategy is well laid out. And there's a lot of progress and innovation going on down there right now. So, I think it's rather well understood at this point within the company at least.

Alex Alvarez - Goldman Sachs

Okay. And has any decision, Kevin, been made about sort of maybe bringing someone else into the company to take over some of the things that you're doing or any additional changes to the executive team at Emdeon?

Kevin Cameron

As I mentioned, there's a CEO search going on. It's been going on since actually prior to closing the deal. It includes external and internal candidates. And, I think we're in the latter stages of that search.

Alex Alvarez - Goldman Sachs

All right. Thank you.

Operator

[Jeffrey Harris, Serials Capital Management]. Your line is open.

Jeffrey Harris - Serials Capital Management

Good evening. First, I'd like as a shareholder to congratulate Kevin and the team for a strong operational performance in '06 and also for the progress in restructuring the company. With that, I would just like to ask a question or two if I may. First, on the fourth quarter, the adjusted EBITDA per share was $0.16. I was wondering whether you could in some way pro forma that by excluding the contribution from Business Services and any other divested entity such that we can bridge that number to the guidance for 2007?

 

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