Wednesday, April 18, 2007
MedAssets to Acquire XactiMed
MedAssets Inc., a business-process outsourcing firm that caters to the health care industry, has agreed to acquire Richardson, Texas-based XactiMed, MedAssets reported Tuesday. The deal, which won't be finalized until May, will bolster MedAssets' line of net revenue services with claims management, remittance management and denial management solutions. Financial terms of the pending agreement were not disclosed. Headquartered in Richardson, Texas, XactiMed provides Web-based services for the health care industry. D.T. Nguyen, who founded XactiMed in 1998, will continue to serve as the company's president and CEO. MedAssets is based in Atlanta and serves more than 2,400 hospitals and 25,000 health care providers. XactiMed is backed by Buena Venture Associates, L.P., an investment fund founded by Sid R. Bass.