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Broadlane VMS Lifts MedAssets Revenue

February 25 2011

MedAssets Inc.'s (NASD: MDAS) acquisition of The Broadlane Group, which provides a VMS to the healthcare industry, helped boost revenue.

Fourth-quarter revenue rose 22.8% on a year-over-year basis to $48.2 million in the company's "spend and clinical resource management" segment. MedAssets said the increase was driven by 46 days of revenue from Broadlane.

Total fourth-quarter revenue at MedAssets rose 11.8 percent year over year to $106.9 million.

Full-year revenue rose 14.7 percent to $391.3 million in 2010.

Looking to 2011, the company expects revenue from its spend and clinical resource management segment, which includes Broadlane, to be between $359 million and $367 million (an increase of between 130.0 percent and 135.1 percent).

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