Pamplona Capital Management has announced it will acquire MedAssets for $2.7 billion.
Pamplona, based in London and New York, is a PE firm established in 2005. Pamplona manages over $10 billion in assets across a number of funds for a variety of clients. Pamplona is currently managing its fourth private equity fund, Pamplona Capital Partners IV LP, which was raised in 2014. The firm invests long-term capital across the capital structure of its portfolio companies in both public and private market situations.
MedAssets, based in Alpharetta, Ga., is a healthcare performance improvement company that serves four out of every five hospitals in the United States.
Following completion of the acquisition, which is expected to close in the first quarter of 2016, pending customary approvals, Pamplona intends to divest MedAssets’ spend and clinical resource management segment to VHA-UHC Alliance NewCo, as per a separate agreement. Pamplona and VHA-UHC have agreed to work together in select service offerings.
Pamplona also indicated it will combine MedAssets’ revenue cycle management segment with Pamplona-owned Precyse.