MedAssets, Inc
TypePublic
IndustryHealth Care Technology
Founded1999
FateIn the year 2016 was acquired by Pamplona Capital Management later merged with Equation now known as nThrive [1]
Headquarters
Alpharetta, Georgia
Key people
John Bardis (CEO)
ProductsRevenue Cycle Management
Accountable Care Management
Spend and Clinical Resource Management
Advisory Solutions
Payor Solutions
RevenueIncrease US$680.4 Million (FY 2013)[2]
Increase US$90.743 Million (FY 2013)[2]
Increase US$27.441 Million (FY 2013)[2]
Total assetsDecrease US$1.613 Billion (FY 2013)[2]
Total equityIncrease US$489.789 Million (FY 2013)[2]
Number of employees
3,400
WebsiteMedAssets

MedAssets, Inc. was an American healthcare performance improvement company. It provided products and services to 4,400 hospitals and 122,000 non-acute healthcare providers.[3]

The Alpharetta, Georgia based company had 15 offices across the United States. States with a MedAssets location included California, Colorado, Georgia, New Jersey, Texas, and Washington.[4]

In early 2016, MedAssets was split into two companies and was sold out. The company no longer exists in its original form, although some of its products exist under other brand names under various companies including nThrive.

History

John Bardis founded MedAssets in June, 1999.[5] The company began as a group purchasing organization (GPO) which offered its customers medical supply discounts. By August 2014, MedAssets had become the largest GPO in the United States.[6] The company became publicly traded in 2007.[7] MedAssets expanded its services over time and offerings included cost and clinical resource management, purchasing and revenue cycle solutions, change management consulting, and data-driven analytic software.[8]

Acquisitions

  • In 1999, MedAssets acquired the GPO InSource Health Services of Los Angeles, California (see 2001 acquisition note for reference)
  • In 2007, MedAssets acquired Xactimed[9]
  • In 2008, MedAssets acquired Accuro Healthcare Solutions[10]
  • In 2010, MedAssets acquired rival Broadlane[10]
  • In 2014, MedAssets acquired Sg2[11]

References

  1. ↑ "MedAssets-Precyse gets new name:nThrive". 24 June 2016.
  2. 1 2 3 4 5 "Financial Statements for MedAssets, Inc".
  3. ↑ MedAssets to acquire Sg2
  4. ↑ MedAssets Locations
  5. ↑ CEO Blog: Changing How We Pay for Healthcare
  6. ↑ 6 of the Largest GPOs
  7. ↑ MedAssets IPO raises $212.8 million, top of range
  8. ↑ MedAssets Solutions
  9. ↑ XactiMed Acquisition
  10. 1 2 "Rivals no more | Modern Healthcare". 17 September 2010.
  11. ↑ "MedAssets buying analytics firm Sg2 in first deal since 2010 | Modern Healthcare". 15 September 2010.
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