Pamplona Capital has completed the purchase of MedAssets for $2.75 billion in a move to expand its revenue cycle management capabilities.
Pamplona will begin combining MedAssets' revenue cycle management arm with Precyse, a Pamplona-owned health information management services, technology and education company. MedAssets currently serves more than 2,700 hospital clients and handles more than $450 billion in gross patient revenue annually.
Separately, Pamplona has entered into an agreement with Vizient (formerly VHA-UHC Alliance) to divest MedAssets' spend and clinical resource management segment. The transaction is expected to come to fruition in mid-February. Pamplona and Vizient will pursue additional strategic partnership and growth opportunities together.
"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, MedAssets chairman and CEO.
Pamplona and MedAssets announced the acquisition last November.