Pamplona Capital Management Completes Acquisition of MedAssets
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.
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.
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.
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
New Data for Darzalex®▼(daratumumab) Presented at ASH 2017 Show Feasibility of Subcutaneous Use and Potential of Darzalex as a Treatment for Smouldering Multiple Myeloma12.12.2017 08:00 | Pressemelding
Janssen-Cilag International NV (“Janssen”) today announced new data from the Phase 1b PAVO clinical study, which demonstrated that the subcutaneous delivery of Darzalex® (daratumumab) co-formulated with recombinant human hyaluronidase enzyme (daratumumab-SC), was generally well-tolerated, with a 12 percent rate of infusion-related reactions (IRRs), in patients with relapsed or refractory multiple myeloma.1 These data were featured as an oral presentation at the 59th American Society of Hematology (ASH) Annual Meeting in Atlanta. Daratumumab is currently approved for intravenous (IV) administration, and results from the PAVO trial serve as the basis for an actively enrolling Phase 3 study comparing subcutaneous administration of daratumumab over 3-5 minutes with the approved IV administration in relapsed and refractory multiple myeloma patients.2 Daratumumab is currently indica
The Country Network (TCN) Debuts in Ultra HD with SES12.12.2017 07:55 | Pressemelding
The Country Network (TCN), an emerging over-the-air television network devoted to showcasing rising and established country music stars, has joined SES’s successful Ultra HD platform to launch its 4K channel and boost its audience reach. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211006280/en/ The Country Network (TCN) Debuts in Ultra HD with SES (Photo: Business Wire) SES today announced The Country Network (TCN) has debuted its first shows in Ultra HD this week and become the eleventh 4K channel on SES’s all-in-one Ultra HD solution. The unique Ultra HD platform packages satellite distribution, reception gear, and the world’s largest 4K channel line-up for cable and IPTV operators of all sizes across North America. First launched in 2009, The Country Network is currently enj
World’s First Ultra HD HDR Travel Channel Travelxp 4K Makes German Debut on HD+ via SES12.12.2017 07:55 | Pressemelding
Travelxp 4K, one of the world’s leading travel and lifestyle television channels, will start delivering its programmes in Ultra HD (UHD) and High Dynamic Range (HDR) to HD+ viewers across Germany as of 13 December 2017. The channel will be broadcast via Astra 19.2 degrees East and will rely on MX1 for playout and uplink services. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211006262/en/ World’s First Ultra HD HDR Travel Channel Travelxp 4K Makes German Debut on HD+ via SES Travelxp 4K is also one of the first networks in the world to broadcast in High Dynamic Range, a feature that provides better contrast and greatly improves the viewer experience. Thanks to that technology, HD+ customers can enjoy holiday destinations from around the world from the comfort of their own homes without any additio
Dialog Semiconductor Power Conversion Chipset Used in HUAWEI's Latest Flagship Mate 10 Series12.12.2017 07:13 | Pressemelding
Dialog Semiconductor plc (XETRA: DLG), a provider of highly integrated power management, AC/DC power conversion, and low power connectivity technology, today announced that Dialog's RapidCharge(TM) chipset enabling the SuperCharge protocol was selected for the new HUAWEI Mate 10, HUAWEI Mate 10 Pro and Porsche Design HUAWEI Mate 10 smartphone adapters. As fast charging smartphone adoption accelerates, this represents another significant milestone in the company's AC/DC power conversion leadership as Dialog continues to maintain a market share above 60%. HUAWEI recently launched their impressive Mate 10 series with breakthrough AI devices that combine innovative hardware and software. The Kirin 970 chipset and EMUI 8.0 is the world's first AI processor for smartphones with a dedicated Neural Network Processing Unit (NPU). All HUAWEI Mate 10 series sport the New Leica Dual
Russian Teen Star Polina Butorina Releases Her Debut Album in Dubai12.12.2017 07:00 | Pressemelding
UAE-based Russian teen actor and singer-songwriter Polina Butorina released her debut album, titled ‘Ocean of Emotions’, here. The anthology of 10 original English songs are written and sung by the 15-year-old student of Raffles International School Dubai. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211006370/en/ Polina Butorina at the launch of debut album "Ocean of Emotions" - (Photo: AETOSWire) The album was launched simultaneously with the premiere of the recent Hollywood motion picture ‘Maximum Impact’, in which Polina played a main role. The album’s three tracks – ‘Higher Than the Sky’, ‘I Want to Be Free’ and ‘Like Thunder’ were part of the movie’s soundtrack. Launching the album, Polina said, “The album explores the idea of love in its different appearances. The main concept r
IDEMIA Has Been Selected by WiZink to Launch Samsung Pay in Spain12.12.2017 06:00 | Pressemelding
IDEMIA, the global leader in trusted identities for an increasingly digital world, announced WiZink, a bank that specializes in credit cards and simple savings solutions that respond to its customers’ day-to-day needs, has selected IDEMIA to roll out the Samsung Pay mobile payment service. IDEMIA has been producing WiZink cards since the bank launched its new brand in June 2016. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171211006319/en/ (Photo: Business Wire) Backed by IDEMIA, WiZink cards can be digitalized and used with Samsung Pay for all users, while also benefiting from all innovative Samsung features and options that Samsung Pay users can access. With the novel and convenient payment method, users can add all loyalty memberships and vouchers to the same wallet under the s
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom