MedAssets plans new debt financing for buyout by Pamplona Capital

By Sara Rosenberg

New York, Nov. 2 – MedAssets has received a commitment for debt financing to help fund its acquisition by Pamplona Capital Management, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Barclays, Morgan Stanley Senior Funding Inc., Macquarie Capital (USA) Inc. and Golub Capital Markets LLC are the leads on the deal.

Other funds for the transaction will come from equity.

Under the agreement, MedAssets is being purchased for $31.35 per share, which represents a total enterprise value of about $2.7 billion for the acquisition.

In addition, Pamplona has entered into a separate agreement with VHA-UHC Alliance NewCo Inc., a member-owned health care company, to divest MedAssets’ Spend and Clinical Resource Management segment to VHA-UHC Alliance following the completion of Pamplona’s acquisition of MedAssets.

Pamplona will combine MedAssets’ Revenue Cycle Management segment with Precyse, a Pamplona-owned company that provides health information management services, technology and education.

Closing is expected in the first quarter of 2016, subject to the receipt of regulatory approvals, expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, MedAssets’ stockholder approval and other customary conditions.

MedAssets is an Alpharetta, Ga.-based health care performance improvement company.

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