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Fly News Breaks for July 13, 2015
MDAS
Jul 13, 2015 | 05:55 EDT
Piper Jaffray notes MedAssets lost the GPO business of St. Barnabas, a 2,700 bed health system in New Jersey, to competitor Healthtrust Purchasing Group, effective September 1. Piper estimates the contract is worth up to $8M per year to MedAssets. The firm lowered its estimates for the company and sees the potential for further contract losses given the management turnover. It reiterates an Underweight rating on MedAssets with a $15 price target.
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