MedAssets
| Company type | Public (until 2016) |
|---|---|
| Industry | Healthcare technology, Group purchasing organization |
| Founded | June 1999 |
| Founder | John Bardis |
| Defunct | 2016 |
| Fate | Acquired by Pamplona Capital Management and merged with Equation to form nThrive |
| Headquarters | Alpharetta, Georgia , United States |
Area served | United States |
Key people | John Bardis (founder) |
| Products | Revenue Cycle Management, Accountable Care Management, Spend and Clinical Resource Management, Advisory Services, Payor Solutions |
| Revenue | US$680.4 million (2013) |
| US$90.7 million (2013) | |
| US$27.4 million (2013) | |
| Total assets | US$1.613 billion (2013) |
| Total equity | US$489.8 million (2013) |
Number of employees | 3,400 (2013) |
MedAssets, Inc. was a U.S.-based organization focused on enhancing healthcare performance, supporting 4,400 hospitals along with 122,000 non-acute healthcare providers. Headquartered in Alpharetta, Georgia, the company maintained 15 offices across the country, including facilities in California, Colorado, Georgia, New Jersey, Texas, and Washington.
Its expertise lay in delivering healthcare technology services encompassing Revenue Cycle Management, Accountable Care Management, Spend and Clinical Resource Management, Advisory Services, and Payor Solutions. For the fiscal year 2013, MedAssets disclosed revenues totaling US$680.4 million, with an operating profit of US$90.7 million and a net profit of US$27.4 million. The company held assets valued at US$1.613 billion and equity amounting to US$489.8 million, employing around 3,400 individuals.
In early 2016, Pamplona Capital Management acquired MedAssets and merged it with Equation, creating the entity now known as nThrive. Although MedAssets as an independent company was dissolved, several of its offerings have been retained and rebranded within the nThrive product suite.
History
MedAssets was established in June 1999 by John Bardis as a group purchasing organization (GPO) that provided discounted medical supplies. By August 2014, it had become the largest GPO operating in the United States. The company went public in 2007, generating $212.8 million through its initial public offering. Over the years, MedAssets broadened its services to include cost and clinical resource management, revenue cycle and procurement solutions, change management consulting, and analytics software driven by data insights.
Acquisitions
- 1999: Purchased GPO InSource Health Services based in Los Angeles, California
- 2007: Acquired Xactimed to strengthen revenue cycle management capabilities
- 2008: Integrated Accuro Healthcare Solutions into its operations
- 2010: Completed acquisition of competitor Broadlane for $850 million
- 2014: Bought analytics company Sg2, marking its first acquisition since 2010