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Revenue Up at Broadlane Buyer

November 04 2011

MedAssets Inc.’s (NASD: MDAS) third-quarter revenue rose 49.8 percent year over year, boosted by its November 2010 acquisition of The Broadlane Group, which provides a vendor management system to the healthcare industry. Third-quarter revenue was $143.6 million, compared with revenue of $95.9 million a year ago.

When recasting last year’s third-quarter results to include Broadlane revenue, Atlanta-based MedAssets’ revenue rose 2.5 percent in the third quarter of 2011.

The company’s net loss for the third quarter was $983,000, compared with net income of $8.5 million in the year-ago quarter. The net loss in the third quarter of 2011 was primarily due to acquisition and integration-related expenses, an increase in interest expense and non-cash amortization related to the acquisition of Broadlane, as well as management restructuring expenses in the company’s “revenue cycle management” division.

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