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MedAssets Supply Chain Systems Acquires Shared Services Healthcare

Posted on: Wednesday, 1 March 2006, 12:00 CST

MedAssets Supply Chain Systems announced today it has acquired Shared Services Healthcare (SSH), based in Atlanta, Georgia. Founded in 1974, SSH is the nation's largest regional group purchasing organization serving healthcare customers in Georgia, Alabama, Florida, Mississippi, Tennessee, and the Carolinas. The company has been an affiliate of MedAssets Supply Chain Systems since 2002. The successful relationship between MedAssets and SSH has offered added value to SSH members by driving greater cost savings in the healthcare supply chain and providing access to advance supply chain analytical technology.

SSH will become a subsidiary of MedAssets Supply Chain Systems and will continue to operate under the Shared Services Healthcare name. SSH employees will become employees of MedAssets Supply Chain Systems. MedAssets Supply Chain Systems is a subsidiary of MedAssets, Inc. and sister company to MedAssets Analytical Systems, MedAssets Net Revenue Systems, Aspen Healthcare Metrics and Avega Health Systems.

SSH has been instrumental in increasing market penetration for MedAssets Supply Chain Systems, including securing the following partial list of customers: Mobile Infirmary Medical Center (AL), University of North Carolina Health Care System (NC), Sisters of Charity Providence Hospital (SC), North Mississippi Medical Center (MS), East Tennessee Children's Hospital (TN), Orlando Regional Healthcare System (FL), and Leesburg Regional Medical Center (FL).

"The relationship between MedAssets and Shared Services has been a strong and mutually rewarding one," stated Sandra Green, president of SSH. "Shared Services members have benefited greatly from our longstanding affiliation. Joining forces will only enhance our ability to help healthcare organizations reach their financial goals." Green will remain in her current role as president of SSH.

MedAssets' mission is to improve healthcare providers' margin and cash flow by solving significant operational problems with a customized solution of technology and services. MedAssets' planned evolution has included re-inventing healthcare group purchasing with innovative supply chain technology and physician preference item cost reduction services. In addition, MedAssets provides revenue cycle management through an industry leading solution suite including chargemaster management, charge capture auditing, defensible pricing, denials management, as well as supply item file and chargemaster linkage. Most recently, MedAssets, Inc. acquired Avega Health Systems, a leading provider of decision support; Inobis, a supply chain data management company; and MDSI, a provider of supply chain technology and information services.

"We are very pleased that Shared Services is joining the MedAssets family," stated Rand Ballard, chief operating officer of MedAssets, Inc. "Our ability to serve customers in the Southeast will only get better as MedAssets and SSH come together. We will provide our full range of cash flow and margin improvement solutions to Southeastern healthcare providers while continuing the excellent customer service for which Shared Services is known."

Terms and conditions of the agreement are not being disclosed.

For more information about SSH and MedAssets, visit www.sharedservices.org and www.medassets.com.

About MedAssets

MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives as well as decision support technology and services. As a strategic business partner, MedAssets can replace multiple vendors and decrease supply costs by 3-10 % and increase net patient revenue by 1-3 %. MedAssets Net Revenue Systems provides best-of-breed revenue solutions including strategic pricing, pre-bill charge capturing, and ongoing chargemaster management tools, all of which have been Peer Reviewed by the Healthcare Financial Management Association. MedAssets Net Revenue Systems also offers denials management and a tool to link supply cost data with charge data. MedAssets Supply Chain Systems is one of the fastest growing group purchasing organizations in the U.S. and builds customized solutions encompassing procurement of common medical supplies, pharmaceuticals, physician preference supplies, food and nutrition items, and capital equipment. The newly formed MedAssets Analytical Systems offers supply chain analytics and decision support tools while clinical and operational consulting services are provided through MedAssets' subsidiary, Aspen Healthcare Metrics. Avega Health Systems, a subsidiary of MedAssets, ranked "Best in KLAS" in Business Decision Support - KLAS Enterprises, LLC 2005. For more information about MedAssets go to www.medassets.com or contact Gary Johnson, corporate senior vice president of Marketing and Marketing Services, 100 North Point Center East, Suite 200, Alpharetta, GA 30022.

1: KLAS Confidential Information. (C) 2005 KLAS Enterprises, LLC. All rights reserved. www.healthcomputing.com

Source: Business Wire

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