Healthcare Staffing Report: March 5, 2015

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Healthcare VMS provider MedAssets appoints CEO

MedAssets Inc. (NASD: MDAS), a vendor management system provider in the healthcare space, on Tuesday announced R. Halsey Wise has been appointed chairman and CEO effective immediately. He takes over from John Bardis, who is retiring for personal reasons due to family health issues.

Wise served as chairman and CEO of Intergraph Corporation, a provider of engineering and geospatial software, from 2003 to 2010. Intergraph had $850 million in revenue in 2010. He also served as president and CEO for software company Solution 6 from 2000 to 2003.Wise has, since 2010, been CEO of Lime barrel Advisors, a private investment firm he founded.

Former CEO Bardis founded MedAssets in June 1999.MedAssets also announced earnings for its fourth quarter and fiscal year. The company has several business lines in addition to its VMS, but net revenue rose 16.3% in the fourth quarter to $198.2 million.

Excluding the company’s acquisition of Sg2, it reported fourth-quarter revenue rose 10.0%. VMS is included in the company’s “spend and clinical resource management” segment, where revenue rose 17.7% in the fourth quarter to $125.3 million.

MedAssets reported a net loss of $42.4 million in the fourth quarter compared to net income of $7.8 million in the same quarter last year.