Key Developments For MedAssets, Inc.
MedAssets, Inc. (MDAS.O) (Nasdaq)
MedAssets, Inc. Lowers FY 2009 Revenue And EBITDA Guidance; Raises Low End Of Prior FY 2009 EPS Guidance To A Range In Line With Analysts' Estimates
MedAssets, Inc. refined its fiscal 2009 guidance and expects net revenue to be in the range of $341-$345 million compared to prior range of $346-$354, diluted earnings per share (EPS) to be in the range of $0.31-$0.37 compared to prior range of $0.29-0.37 and expects non-GAAP adjusted EBITDA to be in the range of $110 -$114 million compared to prior range of $111-$117 million, non-GAAP cash diluted EPS to be in the range of $0.78-$0.84 compared to prior range of $0.76-$0.84. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.79, EBITDA of $111 million on revenues of $350 million for the same period.
Maury Regional Medical Center Selects MedAssets, Inc. for Supply Chain Management Services
MedAssets, Inc. announced that it has reached an agreement to become the primary group purchasing organization (GPO) and a technology provider for supply chain system optimization for Maury Regional Medical Center of Columbia, Tenn.
St.Vincent Health Chooses MedAssets, Inc.'s Revenue Cycle Management Solution
MedAssets, Inc. announced that St.Vincent Health of Indianapolis, Ind., has expanded its use of MedAssets' Revenue Cycle Management products and services to further improve its financial performance through better contract management, charge capture and recovery and claims management processes.
MedAssets, Inc. Reaffirms FY 2009 Guidance-Conference Call
MedAssets, Inc. announced that it is maintaining its revenue targets for the remainder of fiscal 2009. In addition the Company is maintaining its adjusted EBITDA range of $111-$117 million, GAAP earnings per share (EPS) range of $0.29-$0.37 and a cash EPS range of $0.76-$0.84. However, given the complexity of this implementation and investment discussed, the Company would be more comfortable setting expectations towards the lower half of its adjusted EBITDA and EPS ranges for fiscal 2009. According to Reuters Estimates, analysts were expecting the Company to report revenue of $349.68 million and EPS of $0.80 for fiscal 2009.
MedAssets, Inc. Signs Transformational Revenue CycleManagement Agreement To Help Drive Financial Improvementfor Saint Barnabas Health Care System
MedAssets, Inc. announced that it has signed a long-term agreement to deliver its transformational revenue cycle solutions to Saint Barnabas Health Care System (SBHCS), the health care delivery system in New Jersey. MedAssets will provide revenue cycle process reengineering services, powered by the continued deployment of web-based software and execution of ongoing primary accounts receivable billing and follow-up services. This strategic partnership is focused on achieving improved financial metricsand best-practice revenue cycle operating processes across the SBHCS enterprise.
