NASHVILLE (AP) — Health care payment technology company Emdeon Inc. has agreed to be taken private by The Blackstone Group for about $2.2 billion.

The deal disclosed Thursday would give Blackstone a controlling interest in Emdeon, but the announcement says shareholder Hellman & Friedman will keep a "significant" minority equity interest.

Under the terms of the deal, Emdeon shareholders will receive $19 per share in cash, a 17 percent premium over Wednesday's closing price.

The Nashville, Tenn.-based company said in a May regulatory filing it had 115.8 million shares outstanding.

Emdeon and Blackstone value the deal at about $3 billion.

The deal has been approved by Emdeon's board but it needs shareholder approval. Emdeon expects the acquisition will close before the end of the year.

Shares of Emdeon jumped $2.30, or 14.2 percent, to $18.55 in morning trading.