Alpharetta, GA – December 13, 2007 – MedAssets, Inc. today announced the pricing of its initial public offering of 13,300,000 shares of its common stock at a price to the public of $16.00 per share.
The 13,300,000 shares to be sold in the offering consist entirely of shares to be sold by the Company. The Company’s shares are scheduled to begin trading on the NASDAQ Global Select Market this morning, Thursday, December 13, 2007, under the trading symbol “MDAS.” The Company intends to use the net proceeds of the offering to repay approximately $125 million of outstanding indebtedness and for general corporate purposes, including further development and expansion of its technology-enabled solutions, and for possible acquisitions of complementary businesses, technologies or other assets. The Company and certain selling stockholders have granted the underwriters an option for 30 days to purchase an additional 1,995,000 shares of common stock at the initial public offering price.
Morgan Stanley & Co. and Lehman Brothers Inc. acted as joint book runners for the offering. Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; Piper Jaffray & Co.; William Blair & Company, L.L.C. and Wachovia Capital Markets, LLC acted as co-managers. MedAssets, Inc. is a portfolio company of Parthenon Capital and Galen Partners.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on December 12, 2007. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.