We’ll have more in the October issue of The Journal of Healthcare Contracting, but here are some quotables from the news that MedAssets will acquire Broadlane.
John Bardis, chairman, president and chief executive officer of MedAssets:
“The Broadlane Group and MedAssets are an outstanding strategic fit, and this combination offers numerous benefits for our clients and stakeholders. We are bringing together some of the best contract pricing in the industry, with highly complementary technology and clinical consulting expertise from both companies. Our core strategy is to enable broader clinical and operating effectiveness throughout our nation’s health system, and this transaction will further enhance our ability to help hospitals and other healthcare providers drive their operating and supply costs lower, while improving patient care.”
Patrick Ryan, chairman and chief executive officer of The Broadlane Group, who is expected to join the MedAssets board of directors and also assume the role of President of the Company’s Spend Management segment upon completion of the transaction:
“This transaction offers an exceptional opportunity to bring together two very strong enterprises and deliver end-to-end cost management capabilities. As a combined entity, we offer a strategic opportunity for our clients to drive operating expenses down while improving quality of care,” said Mr. Ryan. “The collective strengths of The Broadlane Group and MedAssets will provide expanded supply chain capabilities, and further enhance the financial improvement opportunities, both near and long-term, for our healthcare provider clients.”
What news outlets are saying
“In our view, the deal makes strategic sense as it eliminates a formidable competitor on the Spend Management side, adds scale, and will likely open doors for potential Revenue Cycle Management cross-sales,” ThinkEquity’s Glenn Garmont told Reuters.