The deal is the third acquisition this year for the Nashville-based provider of health-care payment and administrative systems.
"Most hospitals don't have the resources to go after underpayment, so this service allows them to supplement their existing staffs," said Tommy Lewis, Emdeon's senior vice president of corporate communications. If Chapin meets certain performance goals through 2012, its owners could get up to an additional $8.1 million in Emdeon stock.
GETAHN WARDAdvanced BioHealing opens office
Advanced BioHealing Inc., a Westport, Conn.-based biotech firm, has opened an office in Brentwood as it expands research and development efforts. The company has leased 5,500 square feet of office space in the Overlook Building with plans to move a lab there from temporary space at the Cumberland Emerging Technologies Life Sciences Center in Nashville.
Advanced BioHealing, which focuses on regenerative medicine, expects to have about 10 Nashville-area employees by year-end. Its research includes additional uses for its lead product, the skin substitute Dermagraft.
Charles E. Hart, the former chief scientific officer at BioMimetic Therapeutics, now works with Advanced BioHealing.
Transform Your Home with Home StagingArdent agrees to buy Ohio hospitals