MedAssets Acquires Healthcare Supply Chain Data Management Company
Atlanta - MedAssets Inc. announced it has acquired Inobis, a recognized leader in healthcare supply chain data management. Inobis uses the capabilities of advanced software tools, experienced clinicians, and product experts to deliver thorough and comprehensive supply chain data preparation, data analysis, and maintenance.
The capabilities and employees of Inobis will become part of the newly formed MedAssets Analytical Systems, a provider of supply chain technology and analytical services. The acquisition builds upon the best-of-breed supply chain analytics that were previously available only with a group purchasing relationship. The products and services of MedAssets Analytical Systems may now be engaged regardless of a hospital's group purchasing organization affiliation. MedAssets Analytical Systems provides supply chain analytics involving best demonstrated practices for item file and contract management, as well as extensive supply chain process and product cost reduction opportunities.
Based in Knoxville, Tenn., Inobis assists healthcare providers in improving data integrity to support new or existing information systems for materials management, ERP or surgery systems. Inobis' tools enable facilities to evaluate and compare product data, as well as introduce benchmarks through an advanced product categorization process. Analysis of standardized and aggregated supply chain data allows providers to identify cost savings, evaluate contract performance, and improve operating margins across multiple facilities.
In October 2005, MedAssets also acquired MDSI, based in Richmond, Virginia. MDSI provides technology and information services to streamline communication, processing, and management of product and contract data across the healthcare supply chain. This comprehensive solution increases operating efficiency and lowers costs throughout the health system. MDSI's capabilities and employees have also been integrated into MedAssets Analytical Systems to enhance the service offerings.
"The formation of MedAssets Analytical Systems and the acquisition and integration of Inobis and MDSI into this new division marks a turning point in our organization," said John Bardis, chairman, president and CEO of MedAssets. "While the group purchasing piece of our business is a mainstay, our ability to now offer supply chain technology and analytical services independent of the GPO relationship gives healthcare providers unlimited access to the supply chain tools they need to significantly improve business processes and cash flow."
MedAssets' mission is to improve healthcare providers' margin and cash flow by solving significant operational problems with a customized solution of technology and services. MedAssets' planned evolution has included re-inventing healthcare group purchasing with innovative supply chain technology and physician preference item cost reduction services. In addition, MedAssets provides revenue cycle management through an industry leading solution suite including chargemaster management, charge capture auditing, defensible pricing, denials management, as well as supply item file and chargemaster linkage. MedAssets recently acquired Avega Health Systems, a leading provider of decision support.
As a subsidiary of MedAssets, Inc., MedAssets Analytical Systems is a sister company to MedAssets Supply Chain Systems, MedAssets Net Revenue Systems, Aspen Healthcare Metrics and Avega Health Systems.
Terms and conditions of the agreement are not being disclosed.
SOURCE: MedAssets, Inc.