MedAssets Enters into Strategic Partnership with Ariba

Mon Apr 8, 2013 10:15am EDT

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Collaboration to Offer Increased Healthcare Supply Chain Efficiency from
Requisition through Payment
ATLANTA--(Business Wire)--
MedAssets, Inc. (NASDAQ: MDAS) today announced a multi-year strategic
partnership with Ariba, an SAP company, that significantly expands MedAssets
industry-leading supply chain management and outsourced procurement
capabilities. The partnership offers healthcare providers and suppliers the
industry`s most comprehensive electronic commerce platform, including
requisition to purchase order (PO) transmission, shipment notification, invoice
transmission and reconciliation workflow automation, expense posting, supplier
payment and early-pay discount solutions. 

Through this partnership, healthcare providers will be able to conduct fully
automated e-commerce with the nearly one million companies connected to the
Ariba® Network through the MedAssets eCommerce Exchange. The combination of
MedAssets` technology-enabled services with Ariba`s cloud-based applications and
business network will deliver unparalleled cost management and healthcare
provider-supplier collaboration opportunities. Providers, for instance, will be
able to eliminate up to 100 percent of paper invoices received from suppliers
using Ariba`s "smart invoicing" applications, which automatically validate
supplier-initiated electronic invoices through a provider-managed rules engine
and post them directly to their accounting system for true "touchless"
processing. 

"This strategic partnership creates a total transaction management solution for
healthcare organizations. We will use the strength of the nation`s largest
shared services procurement organization, with over $5 billion being transacted
annually through our National Procurement Center, in combination with our
world-class analytics and invaluable insights, to accelerate much needed savings
initiatives for healthcare providers," said John Bardis, MedAssets chairman,
president and chief executive officer. 

"Ariba`s solutions are natural extensions of MedAssets spend management and
outsourcing capabilities. Our experience and analysis have found that healthcare
providers` accuracy of contract pricing and terms increases significantly, and
their contract compliance can triple to more than 90%, when procurement is
managed through a single solution platform," Bardis continued. "We look forward
to leveraging this partnership to deliver innovative procurement and accounts
payable solutions that will minimize back-office administrative expenses,
thereby affording healthcare providers the opportunity to reinvest such funds in
direct patient care delivery." 

Using Ariba`s cloud-based applications and business network, MedAssets can
enhance and expand its capabilities and create even greater value for healthcare
providers, including:

* Contract compliance enhancement; 
* Operational cost reductions through automated invoice matching and validation;

* Improved contract price accuracy; and 
* Opportunities for providers and suppliers to collaborate to achieve early pay
discounts.

In addition, capturing all supplier invoice data electronically for both PO and
non-PO based transactions will accelerate a provider`s ability to identify and
execute upon cost reduction opportunities for all non-labor spend, including
purchased services, a growing area of focus in all healthcare organizations. 

"In today`s healthcare environment, providers face a number of significant
challenges: rising costs, limited resources and rapidly evolving market
conditions," said Bob Calderoni, chairman and chief executive officer, Ariba.
"MedAssets has taken the lead in embracing innovative, technology-based
solutions to eliminate these barriers by improving the efficiency of the
healthcare supply chain, and we are pleased to be partnering with them on this
mission." 

About Ariba, an SAP Company

Ariba is the world`s business commerce network. Ariba combines industry-leading
cloud-based applications with the world's largest web-based trading community to
help companies discover and collaborate with a global network of partners. Using
the Ariba® Network, businesses of all sizes can connect to their trading
partners anywhere, at any time from any application or device to buy, sell and
manage their cash more efficiently and effectively than ever before. Companies
around the world use the Ariba Network to simplify inter-enterprise commerce and
enhance the results that they deliver. Join them at: www.ariba.com

About SAP

As market leader in enterprise application software, SAP (NYSE: SAP) helps
companies of all sizes and industries run better. From back office to boardroom,
warehouse to storefront, desktop to mobile device - SAP empowers people and
organizations to work together more efficiently and use business insight more
effectively to stay ahead of the competition. SAP applications and services
enable more than 232,000 customers to operate profitably, adapt continuously,
and grow sustainably. For more information, visit www.sap.com. 

About MedAssets

MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their
financial strength by implementing revenue cycle, spend and clinical resource
management solutions that help capture revenue, control cost, improve margins
and cash flow, increase regulatory compliance, and optimize operational
efficiency. MedAssets serves more than 4,200 hospitals and 122,000 non-acute
healthcare providers. The company currently manages more than $50 billion in
supply spend and touches over $365 billion in gross patient revenue annually
through its revenue cycle solutions. For more information, go to
www.medassets.com. 

mdas/F

MedAssets, Inc.
Robert Borchert, 678-248-8194
rborchert@medassets.com
or
Ariba, an SAP company
Karen Master, 412-297-8177
Kmaster@ariba.com



Copyright Business Wire 2013

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