MedAssets Enters HME Market with Procure Health
ATLANTA, Nov 16, 2010 -- MedAssets, Inc. (NASDAQ: MDAS) enters the US Home Medical Equipment (HME) market with its affiliate, Procure Health, and Procure�s marketing associate, CareCentric�.
MedAssets, the second largest US healthcare group purchasing organization (GPO) enters the HME market at a time when HME organizations are under intense profit margin pressure. MedAssets brings to the HME market margin relief through its proven profit improvement strategies. MedAssets delivers non-labor expense improvement to over 3,900 acute care providers and 80,000 non-acute healthcare providers.
About Procure
Led by former HCA and Charter Medical executive, Tom McNaull, Atlanta-based Procure Health saw a need for improved pricing for the HME market. McNaull observed, �When I looked at the HME market, the first thing I noticed was that the HME dealers did not have access to pricing that I enjoyed as a hospital system CEO. Yet, HME dealers are under more intense reimbursement pressure than I ever experienced in acute care. I knew that this unmet need was one that MedAssets could address. Their customer-centric focus and values-based culture was an ideal fit for the HME market.� McNaull continues, �If we didn�t think we could improve procurement pricing by at least 5%, we wouldn�t have moved forward.� To reach the market quickly, Procure has entered into an exclusive marketing alliance with CareCentric�,a leading provider of business operating systems in the post-acute care market.
About CareCentric
Today, CareCentric is a healthcare solutions company that has offered industry-leading software and services to post-acute care providers for over 40 years. The state-of-the-art business solutions the company offers are designed to facilitate operational, financial and benchmarking aspects of the healthcare industry, from patient assessments and referrals to reimbursement and compliance. These solutions help reduce operating costs, improve patient outcomes and enhance workflow.
About MedAssets
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve financial strength by implementing spend management and revenue cycle management solutions that help control cost, improve margins and cash flow, increase regulatory compliance and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 80,000 non-acute healthcare providers. For more information, go to www.medassets.com.
MedAssets Expects to Complete Broadlane Acquisition this Week; Company to Provide Updated 2010 Financial Guidance on November 30th
ATLANTA--November 15, 2010(BUSINESS WIRE)-- MedAssets, Inc. (NASDAQ: MDAS) announced today that it expects to close its acquisition of The Broadlane Group within the next five days. Following completion of the transaction, the Company is planning to provide updated 2010 financial guidance for the combined company on Tuesday morning, November 30, 2010.
In conjunction with a press release, the Company will host a conference call on November 30th at 8:00 a.m. EST to discuss its updated financial guidance, including any expected acquisition-related restructuring charges and deferred revenue discounts.
You will be able to access a live audio webcast of the call from the "Events & Presentations" page at http://ir.medassets.com. You can access the conference call by dialing 866-811-1812 (or 702-696-4559 for international/local callers), and providing passcode 25885506. For those unable to listen to the live broadcast, a Webcast replay will be archived on MedAssets' Website. A conference call replay will be available for one week by calling 800-642-1687 (or 706-645-9291), passcode 25885506.