MedAssets Teams with e-Builder to Launch Construction Services and Help Hospitals Manage and Control Construction Costs

To help hospitals and health systems gain the most value from limited capital budgets in a cost-constrained environment, MedAssets (NASDAQ: MDAS) is teaming with e-Builder to launch the MedAssets Construction Services program. This new program enables hospitals to save money over the life of a construction project by keeping projects on time and under budget, from concept to completion.

MedAssets Construction Services combines leading Web-based technology from e-Builder and expertise from MedAssets’ group purchasing organization (GPO) to help healthcare providers gain greater fiscal control over the building process. MedAssets’ approach uses industry best practices for project delivery in the areas of architectural design, contractor RFP process and equipment planning. The e-Builder technology platform will help MedAssets gain transparency to project purchases and aggregate volume across multiple customers to optimize savings.

The MedAssets Construction Services Portal uses e-Builder’s capital program and project management software to provide real-time project management capabilities, giving healthcare executives visibility across multiple projects and facilities. Through the e-Builder technology, healthcare providers can manage, monitor, control and report on the progress of their construction projects.

"MedAssets and e-Builder are breaking new ground with this innovative relationship,” said Jonathan Antevy, CEO of e-Builder. "Through this exclusive agreement, e-Builder technology and MedAssets’ expertise in purchasing will help healthcare providers realize the most value. The result will be better executed construction projects and measurable cost savings in the U.S. healthcare system.”

This new technology platform leverages integrated business process automation, cost control, scheduling, document management and reporting tools. This centralized information management network enables healthcare facility owners, architects, contractors, engineers, and suppliers to efficiently manage a project’s lifecycle during planning, design and construction. In addition, electronic forms track equipment detail per project, both by initial equipment identified and actual purchased equipment from MedAssets suppliers. The result is a streamlined reconciliation process for equipment acquisition that ensures maximum savings.

From a purchasing perspective, using the MedAssets’ Construction Services program will allow a hospital or health system to increase front-end savings on unit pricing and generate lifecycle savings from contract pricing on proprietary systems. MedAssets will help healthcare providers obtain the best pricing by engaging appropriate suppliers early in the planning process and ensuring the visibility of subcontractor acquisition channels. By working onsite with project managers and general contractors, MedAssets will help drive savings through its GPO and deliver savings back to the customer.

"Our new construction program combines MedAssets’ consultative, collaborative approach, a value-driven sourcing process and state-of-the-art technology from e-Builder,” said Rand Ballard, MedAssets' chief operating officer and chief customer officer. "MedAssets’ customers will benefit from savings, visibility throughout the process and the ability to leverage consistency for future projects and expansion.”

Contract categories available through MedAssets’ Construction Services include: building planning services, including architectural, planning, construction management, data-center design and interior design services; building raw materials; building systems, including HVAC, plumbing, fire and life safety systems and medical gas systems; and, building interiors, including artwork, furniture and paint. MedAssets can also assist healthcare facilities that want to employ LEED green-building best practices through all or certain phases of their projects.

The MedAssets Construction Services team will be on hand at the 2010 International Summit on Health Facility Planning, Design, & Construction, being held in San Diego, Calif. from March 14-17. For more information, please visit MedAssets Construction Services.

About e-Builder

e-Builder is the leading provider of fully integrated capital program and project management software for top facility owners and companies that act on their behalf. The company’s flagship product, e-Builder Enterprise, improves capital project execution resulting in increased productivity and quality, reduced cost, and faster project delivery. Since 1995, e-Builder’s technology leadership and construction industry focus has provided thousands of global companies, government agencies, healthcare and educational institutions managing billions of dollars in capital programs with solutions to improve the plan, build and operate lifecycle. The company is privately held and headquartered in Fort Lauderdale, Florida. For more information, visit www.e-Builder.net.

About MedAssets

MedAssets partners with healthcare providers to improve financial strength by implementing spend management and revenue-cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals, and 40,000 non-acute care healthcare providers.

Mdas/B