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MedAsset’s VMS to get new owner

November 03, 2015

MedAssets Inc.’s (NASD: MDAS) vendor management system for healthcare staffing buyers, which operates under the name MedAssets Workforce Solutions, may soon have a new owner as part of a deal by private equity firm Pamplona Capital Management to acquire MedAssets.

Plans announced Monday call for Pamplona to acquire MedAssets but after the sales is finalized, carve out a portion of MedAssets, including the VMS, and sell that portion to the VHA-UHC Alliance. VHA, a national healthcare network of nonprofit hospitals, and UHC, an alliance of academic medical centers, were combined into a single organization effective April 1.

Plans for the acquisition of MedAssets by Pamplona call for the private equity firm to pay $31.35 per share, which represents a total enterprise value of approximately $2.7 billion.

MedAssets, a healthcare consulting firm, has significant other operations than the VMS; the company on Monday reported third-quarter net revenue of $190.0 million, an increase of 8.1% year over year. It reported a third-quarter net loss of $2.2 million, which it attributed to $5.0 million of restructuring charges related to the company’s expense reduction program and $10.3 million of non-cash capitalized software impairments.