The Blackstone Group has agreed to take Emdeon (NYSE: EM) private in a deal valuing the company at $3 billion. The firm intends to pay the company's stockholders $19 per share. About 70% of Emdeon's shares are currently owned by General Atlantic and Hellman & Friedman, both of which have agreed to vote in favor of the deal. GA has been Emdeon's majority owner since 2006, while H&F invested in the company in 2008 and will retain a minority stake post-transaction. Emdeon provides healthcare revenue and payment cycle management and clinical information exchange solutions.
Since the beginning of 2008, PE investors have taken 129 public companies private, according to the PitchBook Platform. Not only are PE investors typically buying larger companies this year, they're also snapping up more of them. With almost five months still left in 2011, 32 take-private buyouts have already been completed this year.