Transaction close positions newly combined MedAssets' Revenue Cycle Management and Precyse as revenue cycle services, technology and education market leader
ATLANTA - February 15, 2016 - MedAssets announced today that Pamplona Capital Management (Pamplona) has completed the sale of MedAssets' Spend and Clinical Resource Management (SCM) segment to Vizient, Inc., the largest member-owned health care company in the country.
The sale marks the final step in Pamplona's plan to combine MedAssets' Revenue Cycle Management (RCM) segment with Precyse, a Pamplona-owned health information management (HIM) company, to create a leader in the end-to-end revenue cycle services, technology and education market.
"The completion of this sale was a critical piece in executing our vision for building a national leader in the end-to-end revenue cycle services, technology and education market," said Jeremy Gelber, M.D., partner at Pamplona Capital Management. "We can now proceed with full integration of the combined MedAssets-Precyse enterprise, leveraging the strengths of each company to better meet the demands of our evolving reimbursement environment."
In addition to the sale of the MedAssets SCM segment, Pamplona and Vizient have agreed to coordinate efforts in select service areas to serve their mutual members and customers.
"Vizient's acquisition of MedAssets' SCM and Sg2 businesses creates a stronger, more robust suite of offerings that appeal to leaders and clinicians in the organizations we serve - from academic medical centers, to non-acute and acute care centers, to pediatric facilities," said Curt Nonomaque, president and chief executive officer of Vizient. "They will benefit from our expanded capabilities in sourcing, consulting, analytics and collaboration to gain insight that fuels care innovation and operational efficiency, and ultimately, improves people's lives."
Pamplona purchased MedAssets for $31.35 per share, which represents a total enterprise value of approximately $2.7 billion. The transaction closed in January 2016. Vizient purchased the SCM segment of MedAssets for an undisclosed sum.
For more information, visit www.medassets-precyse.com .
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.
Vizient, Inc., the largest member-owned health care company in the country, is dedicated to serving members and customers through innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient's diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers, and combined this represents almost $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as the recently acquired MedAssets' Spend and Clinical Resource Management (SCM) segment, which includes Sg2. Headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.
Media Contact: Lea Volpe 678.248.8203
lvolpe@medassets.com
Medassets Inc. issued this content on 15 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 March 2016 09:27:17 UTC
Original Document: http://www.medassets.com/_assets/pdf/press-releases/pamplona-capital-management-completes-sale_pressrelease.pdf