Less than two years after purchasing Nashville-based claims processor Envoy Corp., Quintiles Transnational sells the company to WedMD Corp.
The deal is one year after WedMD Corp.’s merger with online health care company Healtheon. Importantly, it sparks the beginning of a wave of health care IT startups across the industry and in Nashville, as the Internet begins to enter health care. Although WebMD Corp. buys more than 20 companies over the next few years, Nashville-based Envoy will remain the most profitable arm of the Internet giant.
Envoy execs Fred Goad and Jim Kever go on to create a health care investment fund and play an active role in Nashville startups. They also help attract a number of new businesses to town.