Pamplona Capital Management Completes Acquisition of MedAssets
27 Janeiro 2016 - 1:30PM
Business Wire
MedAssets Revenue Cycle Business to merge with
Pamplona-owned Precyse, creating national leader in end-to-end
outsourced revenue cycle services, technology and education
market
Pamplona Capital Management (“Pamplona”) is pleased to announce
that it has completed the acquisition of MedAssets, Inc.
(NASDAQ:MDAS) (“MedAssets”), a leading healthcare performance
improvement company that serves four out of every five hospitals in
the United States. As a result of the transaction, MedAssets stock
will stop trading at the close of business today.
Pamplona purchased MedAssets for $31.35 per share, which
represents a total enterprise value of approximately $2.7 billion.
The transaction was overwhelmingly approved by stockholders on
January 14, with 99.8% of total votes cast in favor.
Pamplona intends to combine MedAssets’ Revenue Cycle Management
(RCM) segment, which currently serves more than 2,700 hospital
clients and touches more than $450 billion in gross patient revenue
annually, with Precyse, a Pamplona-owned health information
management (HIM) services, technology, and education company.
“Completing the acquisition of MedAssets marks an important step
in our strategy to build a national leader in the fully-outsourced
end-to-end revenue cycle services, technology and education
market,” said Jeremy Gelber, M.D., partner at Pamplona Capital
Management. “MedAssets brings tremendous strength in its revenue
cycle management capabilities which, when combined with the
industry-leading health information management expertise of
Precyse, will ideally position the integrated companies to meet the
demands of a reimbursement environment that increasingly relies on
outsourced solutions to create value.” He added, “We would like to
thank the leadership of Precyse and MedAssets for helping us
achieve this important closing and for driving the ongoing
integration of the two businesses, as well as the employees of
Precyse and MedAssets for the continued strong performance of the
businesses during this transaction period.”
Separately, Pamplona has entered into an agreement with Vizient,
Inc. (formerly VHA-UHC Alliance NewCo, Inc.) to divest MedAssets’
Spend and Clinical Resource Management (SCM) segment to Vizient.
That transaction is expected to be completed in mid-February
2016.
About Pamplona Capital Management
Pamplona Capital Management is a London and New York based
specialist investment manager established in 2005 that provides an
alternative investment platform across private equity, fund of
hedge funds and single manager hedge fund investments. Pamplona
Capital Management, LLP manages over USD 10 billion in assets
across a number of funds for a variety of clients including public
pension funds, international wealth managers, multinational
corporations, family offices and funds of hedge funds. Pamplona is
currently managing its fourth private equity fund, Pamplona Capital
Partners IV LP, which was raised in 2014. Pamplona invests
long-term capital across the capital structure of its portfolio
companies in both public and private market situations. Please
visit Pamplonafunds.com for more information.
About MedAssets
MedAssets is a healthcare performance improvement company
that combines strategic market insight with rapid operational
execution to help providers sustainably serve the needs of their
communities. More than 4,500 hospitals and 123,000 non-acute
healthcare providers rely on our solutions to reduce the total
cost of care, enhance operational efficiency, align
clinical delivery, and improve revenue performance across
the System of CARE. For more information, please visit
medassets.com.
About Precyse
Precyse uniquely interweaves people, technology and education to
remove barriers between clinical and financial operations, enabling
healthcare organizations to thrive. The company has helped nearly
5,000 healthcare organizations nationwide improve efficiency and
deliver tangible outcomes for more than fifteen years. Precyse
offers fully outsourced Health Information Management (HIM)
Services, Medical Coding, Clinical Documentation Improvement (CDI),
Medical Transcription, Cancer Registry and Oncology Data
Management; an HIM Automation platform with expert workflow
technologies and Natural Language Processing (NLP) that supports
all inpatient and outpatient Computer Assisted Coding, and Computer
Assisted CDI needs; and Precyse University™, an education solution
targeted towards helping hospitals optimize coding, revenue cycle
management, healthcare operations, clinical documentation, and case
management practices before they hit the bottom line. Please visit
precyse.com for more information.
About Vizient, Inc. (formerly VHA-UHC Alliance NewCo,
Inc.)
Effective April 1, 2015, VHA, the national health care network
of not-for-profit hospitals, and UHC, the alliance of the nation’s
leading academic medical centers, along with Novation, their health
care contracting company, combined into a single organization –
Vizient. Vizient is the largest member-owned health care company in
the country and is dedicated to leading health care innovation,
creating knowledge and fostering collaboration to help our members
thrive. The company serves more than 5,200 health system members
and affiliates as well as 167,000 non-acute health care customers.
Members range from independent, community-based health care
organizations to large, integrated systems and academic medical
centers, and it represents more than $60 billion in annual
purchasing volume. Headquarters are in Irving, Texas, with
locations in Chicago and other cities across the United States.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160127005850/en/
for Pamplona Capital ManagementChristina VerHeul,
615-760-3687cv@thinkrevivehealth.comorEd Orlebar,
+44(0)2070021080Mobile:
+44(0)7738734630edo@templebaradvisory.com
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