Pamplona Capital Management Completes Acquisition of MedAssets for $2.75 Billion
27 Janeiro 2016 - 1:30PM
MedAssets, Inc. (NASDAQ:MDAS), a leading healthcare performance
improvement company that serves four out of every five hospitals in
the United States, announced that Pamplona Capital Management, LLP
completed its acquisition of MedAssets today. MedAssets’ stock will
stop trading at the close of business today.
Pamplona acquired MedAssets for $31.35 per share in cash. The
purchase price represented a 44.5% premium to the 30 trading day
volume weighted average price of MedAssets common stock and an
enterprise value of approximately $2.75 billion. The transaction
was overwhelmingly approved by stockholders on January 14, with
99.8% of total votes cast in favor.
“With this acquisition and an additional transactional step
planned by Pamplona, our customers, partners, suppliers and
employees will have an extraordinary opportunity to benefit from
business combinations that will create both the national leader in
the end-to-end revenue cycle technology, outsourced services and
education market, and the leading supply chain procurement and cost
management partner,” said R. Halsey Wise, chairman and chief
executive officer, MedAssets. “I’d like to thank all of our
employees for their continued dedication, focus and hard work, and
their unending commitment to making healthcare better. Further, I
want to thank our shareholders for your strong support of our
“Now”-“Next”-“After-Next” business transformation and value
creation mission.”
Pamplona will 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.
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.
Pamplona and Vizient have also agreed to work together in select
service offerings to serve their mutual members and customers,
representing further strategic growth opportunities for both
businesses.
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 www.medassets.com.
About Pamplona Capital ManagementPamplona
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 www.pamplonafunds.com for
more information.
mdas/F
Contact:
Robert P. Borchert
678.248.8194
rborchert@medassets.com
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