Blackstone acquires Emdeon for $ 3B

Private equity and hedge fund firm Blackstone Group will receive medical data provider Emdeon to approximately 3 billion dollars.

The deal, announced Thursday by both parties, will result in Emdeon becomes a private company and Emdeon shareholders to receive $ 19 per share in cash.

The acquisition is expected to be completed in the second half of 2011.

Emdeon stock jumped 14 percent, after news of the acquisition, for $ 18.50 during trading Thursday afternoon. Emdeon, based in Nashville, Tenn., last year made 19.5 million dollars in net income on $ 1 billion in revenue.

The New York-based Blackstone has total assets under management of 159 billion dollars.