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{{Short description|American healthcare technology company}}
{{Infobox company
{{Infobox company
| name = MedAssets, Inc
| name = MedAssets, Inc
| logo = MedAssets Logo.png
| logo = MedAssets Logo.png
| logo_size = 220px
| logo_size = 220px
| type = [[Private Company|Private]]
| type = [[Public Company|Public]]
| fate = In the year {{nowrap|2016}} was acquired by Pamplona Capital Management later merged with [[Equation]] now known as nThrive <ref name="corporate-ir2">{{cite web|title=MedAssets-Precyse gets new name:nThrive|url=http://www.modernhealthcare.com/article/20160627/NEWS/160629938}}</ref>
| fate = In the year {{nowrap|2016}} was acquired by Pamplona Capital Management later merged with [[Equation]] now known as nThrive <ref name="corporate-ir2">{{cite web|title=MedAssets-Precyse gets new name:nThrive|date=24 June 2016 |url=http://www.modernhealthcare.com/article/20160627/NEWS/160629938}}</ref>
| key_people = John Bardis {{small|(CEO)}}
| key_people = John Bardis {{small|(CEO)}}
| industry = Health Care Technology
| industry = Health Care Technology
Line 11: Line 12:
| operating_income = {{profit}} [[United States Dollar|US$]]90.743 Million {{small|(''FY 2013'')}}<ref name="corporate-ir1"/>
| operating_income = {{profit}} [[United States Dollar|US$]]90.743 Million {{small|(''FY 2013'')}}<ref name="corporate-ir1"/>
| net_income = {{profit}} [[United States Dollar|US$]]27.441 Million {{small|(''FY 2013'')}}<ref name="corporate-ir1"/>
| net_income = {{profit}} [[United States Dollar|US$]]27.441 Million {{small|(''FY 2013'')}}<ref name="corporate-ir1"/>
| assets = {{decrease}} [[United States dollar|US$]]1.613 Billion {{small|(''FY 2013'')}}<ref name="corporate-ir1">{{cite web|title=Financial Statements for MedAssets, Inc.|url=https://www.google.com/finance?q=NASDAQ:MDAS&fstype=ii}}</ref>
| assets = {{decrease}} [[United States dollar|US$]]1.613 Billion {{small|(''FY 2013'')}}<ref name="corporate-ir1">{{cite web|title=Financial Statements for MedAssets, Inc.|url=https://www.google.com/finance/quote/NDAQ:NASDAQ?fstype=ii}}</ref>
| equity = {{increase}} [[United States dollar|US$]]489.789 Million {{small|(''FY 2013'')}}<ref name="corporate-ir1"/>
| equity = {{increase}} [[United States dollar|US$]]489.789 Million {{small|(''FY 2013'')}}<ref name="corporate-ir1"/>
| num_employees = 3,400
| num_employees = 3,400
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}}
}}


'''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.<ref>[http://www.beckershospitalreview.com/hospital-management-administration/medassets-to-acquire-sg2.html MedAssets to acquire Sg2]</ref> The [[Alpharetta]], [[Georgia (U.S. state)|Georgia]] based company had 15 offices across the United States. States with a MedAssets location included [[California]], [[Colorado]], [[Georgia (U.S. state)|Georgia]], [[New Jersey]], [[Texas]], and [[Washington (U.S. state)|Washington]].<ref>[http://live-medassets.cp-access.com/contact/locations MedAssets Locations]</ref> 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.
'''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.<ref>{{Cite web |last=Gamble |first=Molly |date=2014-08-13 |title=MedAssets to acquire Sg2 |url=https://www.beckershospitalreview.com/hospital-management-administration/medassets-to-acquire-sg2.html |access-date=2024-01-16 |website=www.beckershospitalreview.com |language=en-gb}}</ref>
The [[Alpharetta]], [[Georgia (U.S. state)|Georgia]] based company had 15 offices across the United States. States with a MedAssets location included [[California]], [[Colorado]], [[Georgia (U.S. state)|Georgia]], [[New Jersey]], [[Texas]], and [[Washington (U.S. state)|Washington]].<ref>{{Cite web |title=MedAssets Locations |url=http://live-medassets.cp-access.com/contact/locations |archive-url=https://web.archive.org/web/20131117184109/http://live-medassets.cp-access.com/contact/locations |url-status=dead |archive-date=November 17, 2013 |website=MedAssets}}</ref>
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==
==History==
John Bardis founded MedAssets in June, 1999.<ref>[https://www.cnbc.com/id/45062225 CEO Blog: Changing How We Pay for Healthcare]</ref> 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.<ref>[http://www.beckershospitalreview.com/supply-chain/6-of-the-largest-gpos.html 6 of the Largest GPOs]</ref> The company became publicly traded in 2007.<ref>[https://www.reuters.com/article/medassets-ipo-idUSWEN293720071212 MedAssets IPO raises $212.8 million, top of range]</ref> 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.<ref>[http://live-medassets.cp-access.com/solutions/ MedAssets Solutions]</ref>
John Bardis founded MedAssets in June, 1999.<ref>{{Cite web |last=Bardis |first=John |date=2011-10-27 |title=CEO Blog: Changing How We Pay for Healthcare |url=https://www.cnbc.com/2011/10/27/ceo-blog-changing-how-we-pay-for-healthcare.html |access-date=2024-01-16 |website=[[CNBC]]}}</ref> 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.<ref>{{Cite web |date=2014-08-06 |title=6 of the largest GPOs |url=https://www.beckershospitalreview.com/supply-chain/6-of-the-largest-gpos.html |access-date=2024-01-16 |website=www.beckershospitalreview.com |language=en-gb}}</ref> The company became publicly traded in 2007.<ref>{{Cite web |date=13 December 2007 |title=MedAssets IPO raises $212.8 million, top of range |url=https://www.reuters.com/article/medassets-ipo-idUSWEN293720071212 |website=Reuters}}</ref> 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.<ref>{{Cite web |title=MedAssets Solutions |url=http://live-medassets.cp-access.com/solutions/ |archive-url=https://web.archive.org/web/20131115062543/http://live-medassets.cp-access.com/solutions/ |url-status=dead |archive-date=November 15, 2013 |website=MedAssets}}</ref>


==Acquisitions==
==Acquisitions==
*In 1999, MedAssets acquired the GPO InSource Health Services of Los Angeles, California (see 2001 acquisition note for reference)
*In 1999, MedAssets acquired the GPO InSource Health Services of Los Angeles, California (see 2001 acquisition note for reference){{Citation needed|date=June 2020}}
*In 2007, MedAssets acquired Xactimed<ref>[http://www.prnewswire.com/news-releases/medassets-acquires-xactimed-to-expand-revenue-cycle-management-business-58536452.html XactiMed Acquisition]</ref>
*In 2007, MedAssets acquired Xactimed<ref>[http://www.prnewswire.com/news-releases/medassets-acquires-xactimed-to-expand-revenue-cycle-management-business-58536452.html XactiMed Acquisition]</ref>
*In 2008, MedAssets acquired Accuro Healthcare Solutions<ref name="modernhealthcare.com">http://www.modernhealthcare.com/article/20100920/MAGAZINE/100919939</ref>
*In 2008, MedAssets acquired Accuro Healthcare Solutions<ref name="modernhealthcare.com">{{cite web |last=Rhea |first=Shawn |date=20 September 2010 |title=Rivals no more: MedAssets to scoop up Broadlane for $850 million |url=http://www.modernhealthcare.com/article/20100920/MAGAZINE/100919939 |website=Modern Healthcare}} </ref>
*In 2010, MedAssets acquired rival Broadlane<ref name="modernhealthcare.com"/>
*In 2010, MedAssets acquired rival Broadlane<ref name="modernhealthcare.com"/>
*In 2014, MedAssets acquired Sg2<ref>http://www.modernhealthcare.com/article/20140813/NEWS/308139945</ref>
*In 2014, MedAssets acquired Sg2<ref>{{cite web |last=Lee |first=Jaimy |date=13 August 2014 |title=MedAssets buying analytics firm Sg2 in first deal since 2010 |url=http://www.modernhealthcare.com/article/20140813/NEWS/308139945 |website=Modern Healthcare}} </ref>


==References==
==References==
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[[Category:Software companies based in Georgia (U.S. state)]]
[[Category:Software companies based in Georgia (U.S. state)]]
[[Category:Healthcare software]]
[[Category:Health care software]]
[[Category:Defunct software companies of the United States]]
[[Category:1999 establishments in the United States]]
[[Category:1999 establishments in Georgia (U.S. state)]]
[[Category:Software companies established in 1999]]
[[Category:Companies established in 1999]]

Latest revision as of 01:56, 11 November 2024

MedAssets, Inc
Company 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

[edit]

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

[edit]
  • In 1999, MedAssets acquired the GPO InSource Health Services of Los Angeles, California (see 2001 acquisition note for reference)[citation needed]
  • 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

[edit]
  1. ^ "MedAssets-Precyse gets new name:nThrive". 24 June 2016.
  2. ^ a b c d e "Financial Statements for MedAssets, Inc".
  3. ^ Gamble, Molly (2014-08-13). "MedAssets to acquire Sg2". www.beckershospitalreview.com. Retrieved 2024-01-16.
  4. ^ "MedAssets Locations". MedAssets. Archived from the original on November 17, 2013.
  5. ^ Bardis, John (2011-10-27). "CEO Blog: Changing How We Pay for Healthcare". CNBC. Retrieved 2024-01-16.
  6. ^ "6 of the largest GPOs". www.beckershospitalreview.com. 2014-08-06. Retrieved 2024-01-16.
  7. ^ "MedAssets IPO raises $212.8 million, top of range". Reuters. 13 December 2007.
  8. ^ "MedAssets Solutions". MedAssets. Archived from the original on November 15, 2013.
  9. ^ XactiMed Acquisition
  10. ^ a b Rhea, Shawn (20 September 2010). "Rivals no more: MedAssets to scoop up Broadlane for $850 million". Modern Healthcare.
  11. ^ Lee, Jaimy (13 August 2014). "MedAssets buying analytics firm Sg2 in first deal since 2010". Modern Healthcare.
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