Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
GENERAL ATLANTIC LLC
  2. Issuer Name and Ticker or Trading Symbol
Emdeon Inc. [EM]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
See remarks
(Last)
(First)
(Middle)
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC, 3 PICKWICK PLAZA
3. Date of Earliest Transaction (Month/Day/Year)
08/17/2009
(Street)

GREENWICH, CT 06830
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A common stock 08/17/2009   S   10,905,362 D $ 15.5 23,151,726 I See footnotes (1) (2) (8)
Class A common stock 08/17/2009   S   4,163,064 D $ 15.5 11,607,764 I See footnotes (3) (8)
Class A common stock 08/17/2009   S   927,438 D $ 15.5 2,901,766 I See footnotes (4) (8)
Class A common stock 08/17/2009   S   237,607 D $ 15.5 633,478 I See footnotes (5) (8)
Class A common stock 08/17/2009   S   10,826 D $ 15.5 45,121 I See footnotes (6) (8)
Class A common stock 08/17/2009   S   1,299 D $ 15.5 10,119,098 I See footnotes (7) (8)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
GENERAL ATLANTIC LLC
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
    X   See remarks
GENERAL ATLANTIC PARTNERS 83, L.P.
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
    X   See remarks
General Atlantic Partners 84, L.P.
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
    X   See remarks
GAP-W, LLC
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
    X   See remarks
GAP COINVESTMENTS III LLC
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
    X   See remarks
GAP COINVESTMENTS IV LLC
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
    X   See remarks
GAP Coinvestments CDA, L.P.
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
    X   See remarks
GENERAL ATLANTIC GENPAR, L.P.
C/O GENERAL ATLANTIC SERVICE COMPANY,LLC
3 PICKWICK PLAZA
GREENWICH, CT 06830
    X   See remarks

Signatures

 /s/ Thomas Murphy   08/17/2009
**Signature of Reporting Person Date

 /s/ Thomas Murphy   08/17/2009
**Signature of Reporting Person Date

 /s/ Thomas Murphy   08/17/2009
**Signature of Reporting Person Date

 /s/ Thomas Murphy   08/17/2009
**Signature of Reporting Person Date

 /s/ Thomas Murphy   08/17/2009
**Signature of Reporting Person Date

 /s/ Thomas Murphy   08/17/2009
**Signature of Reporting Person Date

 /s/ Thomas Murphy   08/17/2009
**Signature of Reporting Person Date

 /s/ Thomas Murphy   08/17/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On August 17, 2009, the issuer completed the initial public offering of its Class A common stock (the "IPO"). The number of shares of Class A common stock reported represents the number of shares sold by the applicable reporting persons in the IPO.
(2) By General Atlantic Partners 83, L.P. ("GAP 83").
(3) By GAP-W, LLC ("GAP-W").
(4) By GAP Coinvestments III, LLC ("GAPCO III").
(5) By GAP Coinvestments IV, LLC ("GAPCO IV").
(6) By GAP Coinvestments CDA, L.P. ("GAPCO CDA").
(7) By General Atlantic Partners 84, L.P. ("GAP 84").
(8) General Atlantic, LLC ("General Atlantic") is the general partner of General Atlantic GenPar L.P., which is the general partner of GAP 83, GAP 84 and the Manager of GAP-W. General Atlantic is also the general partner of GAPCO CDA. The managing members of GAPCO III and GAPCO IV are Managing Directors of General Atlantic.
 
Remarks:
Each of the reporting persons may be deemed to be a member of a "group" for purposes of the Securities Exchange Act of 1934.
 Each reporting person disclaims beneficial ownership of any securities deemed to be owned by the group that are not directly
 owned by the reporting person. This report shall not be deemed an admission that the reporting persons are a member of a
 group or the beneficial owner of any securities not directly owned by the reporting person.

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