Pamplona Capital Management has entered into an agreement to acquire MedAssets (NASDAQ: MDAS) for $31.35 per share in cash, a transaction that gives the healthcare performance improvement company an enterprise value of about $2.7 billion. The purchase price represents a 44.5% premium to the 30-trading-day volume weighted average of MedAssets common stock. The deal is expected to close in 1Q 2016, with Morgan Stanley, Barclays, Macquarie Group and Golub Capital committing financing.
More than 4,500 hospitals and 123,000 non-acute healthcare providers use MedAssets' solutions to reduce the total cost of care, enhance operational efficiency, align clinical delivery and improve revenue performance. Upon closing of the deal, Pamplona will sell MedAssets' Spend and Clinical Resource Management segment and combine MedAssets Revenue Cycle Management segment with the firm's Precyse business.