- Pamplona will pay $31.35 a share for technology company
- Price represents 32 percent premium for MedAssets shares
MedAssets Inc., which provides hospital software, will sell itself to private equity firm Pamplona Capital Management for $1.88 billion in cash.
MedAssets will get $31.35 a share, the firms said in a statement Monday. The deal represents a 32 percent premium over MedAssets’ closing price Friday of $23.68.
Under Pamplona, MedAssets’s revenue management unit will be combined with Precyse, a health information management company owned by Pamplona. The MedAssets revenue unit serves about 2,700 hospitals. The two companies already have a strategic partnership and share some customers, according to Pamplona.
Pamplona agreed to buy Precyse earlier this year from private equity firms Altaris Capital Partners and NewSpring Capital.
“This is a major step in delivering on our vision of expanding Precyse beyond our traditional offerings into other areas that positively impact providers’ clinical and financial outcomes,” Precyse Chief Executive Officer Chris Powell said in the statement.
VHA-UHC Alliance, the company formed this year by a merger of not-for-profit hospital network VHA Inc. and medical center group UHC, will acquire a separate unit of MedAssets that manages procurement, market analysis and consulting. Financial terms of that transaction weren’t disclosed.