Pamplona Capital Management has completed the acquisition of publicly traded MedAssets at an enterprise value of approximately $2.7 billion.
MedAssets (NASDAQ: MDAS) is a healthcare revenue cycle management business serving approximately 4,500 hospitals and 123,000 non-acute healthcare providers. The company has annual revenues of about $700 million. MedAssets was founded in 1999 and is headquartered northeast of Atlanta in Alpharetta, GA (www.medassets.com).
Pamplona will combine MedAssets’ revenue cycle management business with Precyse, a portfolio company of the firm since July 2015. Precyse services include outsourced health information management services, medical coding, clinical documentation improvement, medical transcription, cancer registry and oncology data management. The company is headquartered in the Philadelphia suburb of Wayne, PA (www.precyse.com).
“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, MD, a partner at Pamplona.
Pamplona makes private equity, fund of hedge funds and single manager hedge fund investments. The firm is currently investing Pamplona Capital Partners IV LP, a €3 billion fund raised in 2014. Pamplona was founded in 2005 and is based in London and New York (www.pamplonafunds.com).
In a side transaction, Pamplona has entered into an agreement for Vizient to acquire MedAssets’ Spend and Clinical Resource Management segment. Vizient is the name for the combined operations of the VHA and UHC hospital networks which merged in April 2015. Vizient is headquartered in Irving, TX (www.vizientinc.com). This transaction is expected to be completed in mid-February 2016.
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-28-16
