Pamplona Capital Management Completes Acquisition of MedAssets
27.1.2016 15:30 | Business Wire
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
IFF to Present at the Barclays Global Consumer Staples Conference21.8.2017 20:15 | Pressemelding
Regulatory News: International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF), a leading innovator of sensory experiences that move the world, today announced that Andreas Fibig, Chairman and Chief Executive Officer will present at the Barclays Global Consumer Staples Conference in Boston, MA on Thursday, September 7, 2017 at 11:15 a.m. EDT. Investors may access the live webcast and accompanying slide presentation on the Company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Meet IFF International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for explorati
Celularity, Inc., Accelerates Breakthrough Placental Discovery & Therapeutic Platform21.8.2017 20:11 | Pressemelding
Celularity, Inc., a newly formed biotechnology company, today announced its acceleration of cell and tissue regenerative therapies to address unmet medical needs in cancer and chronic and degenerative disease. Celularity completed their Series A financing with contributions from several biopharma companies, including Sorrento Therapeutics, United Therapeutics Corporation and Human Longevity, Inc., and entrepreneurial investors. Celularity has been created through the contributions of extensive intellectual property, clinical-stage assets, basic and clinical research, and development expertise including: Several clinical-stage immuno-oncology and regenerative medicine assets and a pipeline of pre-clinical assets Proprietary allogeneic (“readily accessible”) immunotherapy platform 200+ issued and pending patents in cell therapy
European Commission Grants New Indication for Soliris® (Eculizumab) for the Treatment of Patients with Refractory Generalized Myasthenia Gravis (gMG)21.8.2017 13:25 | Pressemelding
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) announced today that the European Commission (EC) approved the extension of the indication for Soliris® (eculizumab) to include the treatment of refractory generalized myasthenia gravis (gMG) in adults who are anti-acetylcholine receptor (AChR) antibody-positive. Soliris is the first and only complement-based therapy approved in the European Union (EU) for this ultra-rare subset of patients.1-4 Patients with refractory gMG can have difficulties walking, talking, swallowing and breathing normally despite therapies currently used for MG. Exacerbations and crises of their disease may require hospitalization and intensive care and may be life-threatening.5-7 Soliris will be launched for this new indication initially in Germany, and Alexion is evaluating launches in additional EU countries. “Patients with refractory gMG have exhausted multiple the
IntegenX Applauds the Passage of the Rapid DNA Act of 201721.8.2017 12:00 | Pressemelding
IntegenX Inc., the global market leader for Rapid DNA human identification, applauds the signing into law of S.139 and HR.510, The Rapid DNA Act of 2017. The legislation will allow law enforcement agencies, under standards and guidelines established by the FBI, to perform real-time DNA testing at time of arrest, within booking stations. Similar to how fingerprint analysis has evolved from a paper and ink practice to a point-of-action technology, DNA testing has now become possible in 90 minutes within a booking station, while a suspect is still in custody. With processing times reduced from weeks to less than two hours, the potential to identify or exonerate a suspect quickly will make a meaningful impact on law enforcement. IntegenX thanks U.S. Senate sponsor Senator Orrin Hatch (R-UT) and lead co-sponsor Senator Dianne Feinstein (D-CA) as well as House sponsor Congressman
PPG Completes COLORFUL COMMUNITIES Project at Primary School in Kecskemét, Hungary21.8.2017 08:03 | Pressemelding
PPG (NYSE:PPG) today announced the completion of a COLORFUL COMMUNITIES™ project in Kecskemét, Hungary, that helped revitalize the learning environment of the Corvin Mátyás primary school. The Colorful Communities program provides PPG volunteers and products along with financial contributions to bring color and vitality to communities where the company operates around the world, such as in Kecskemét, where the PPG automotive service team operates with 33 employees. The project brought together more than 140 PPG and community volunteers who spent three days at the school revitalizing four classrooms, four changing rooms and the playground. PPG provided more than $20,000 to assist with the project, including more than 460 liters of Héra ® Prémium waterborne interior paint and Trinát ® Aqua wate
Glennmont Partners Completes Refinancing of Sleaford Biomass Plant for £150m21.8.2017 08:00 | Pressemelding
Glennmont Partners has successfully completed the refinancing of the Sleaford Renewable Energy Plant on behalf of its dedicated clean energy fund, Glennmont Clean Energy Fund Europe I, as part of a programme of realisations of value from the Fund. Glennmont Partners is one of Europe’s largest fund managers focusing exclusively on investment in clean energy infrastructure. Glennmont raises long-term capital to invest in alternative power generation projects including wind farms, biomass power stations, solar parks and small-scale hydro power plants. The carefully selected, risk managed investments deliver sustained performance and predictable returns over periods of 10 years or more. Sleaford REP is a 40MWe straw-fired biomass plant located in Lincolnshire, UK. The plant has been in operation since 2014 and is being operated by Burmeister & Wain Scandinavian Contractor (BWSC). The
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom