SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Lehrer Arthur

(Last)

(First)

(Middle)

669 RIVER DRIVE, CENTER 2

(Street)

ELMWOOD PARK

07407

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/15/2007

3. Issuer Name and Ticker or Trading Symbol
EMDEON CORP [ HLTH ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President & CEO, ViPS

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	41,081⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	08/11/2005⁽²⁾	08/11/2014	Common Stock	125,000	$7.27	D
Stock Option (Right to Buy)	02/10/2007⁽²⁾	02/10/2016	Common Stock	50,000	$9.17	D
Stock Option (Right to Buy)	06/06/2007⁽²⁾	06/06/2016	Common Stock	140,000	$11.6	D

Explanation of Responses:

1. Includes 10,000 shares of restricted stock granted on 02/10/2006 of which 3,333 shares have vested, 3,333 shares are scheduled to vest on 02/10/2008 and 3,334 shares are scheduled to vest on 02/10/2009 and includes 30,000 shares of restricted stock granted on 06/06/2006 of which 10,000 shares are scheduled to vest on each of 06/06/2007, 06/06/2008 and 06/06/2009.

2. 25% of the shares underlying the option are scheduled to vest on each of the first, second, third and fourth anniversary of the date of grant (full vesting on the fourth anniversary of the grant date).

Remarks:

	Lewis H. Leicher, Attorney-in-Fact for Arthur Lehrer	02/21/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.