UPDATE 1-MedAssets reaffirms 2008 forecast, shares rise

Jan 13 (Reuters) - Healthcare software provider MedAssets Inc (MDAS.O) reaffirmed its outlook for 2008, sending its shares up as much as 12 percent.

"MedAssets' share price has been under pressure the last few days due to continued worries over the hospital spending environment. This reaffirmation of guidance displays that these worries were completely overblown," Deutsche Bank analyst Ross Muken said.

The company reaffirmed its revenue forecast for 2009, but raised its earnings view for the year by 2 cents on lower stock-based compensation expense. [ID:nWNAB9320]

Shares of the Alpharetta, Georgia-based company were trading up $1.48 at $13.35 Tuesday on Nasdaq. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Jennifer Robin Raj) ((anuradha.ramanathan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800: Reuters Messaging: anuradha.ramanathan.reuters.com@reuters.net))