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MedAssets Announces Share Repurchase Plan

MedAssets Announces Share Repurchase Plan

MedAssets, Inc. has announced that its Board of Directors has authorized the repurchase of up to $25 million of the company's Common Stock. The company also announced that it made a $25 million voluntary prepayment on its outstanding term loan in August.

"This share repurchase plan and voluntary debt repayment underscores the company's solid capital structure and liquidity position, and our confidence in the long-term growth prospects of the business," said MedAssets chairman, president and chief executive officer, John Bardis. "Our Board and senior management team are committed to creating long-term shareholder value. As we examine the options for deploying available free cash flow, debt repayment and the repurchase of our common stock at its current price are attractive uses of capital, even as we continue to invest in our growth initiatives."

The share repurchase program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or block trades, or by any combination of such methods, in accordance with applicable insider trading and other securities laws and regulations. The program does not obligate the company to make any purchases at any specific time or in a specific situation. The program may be suspended or discontinued at any time. As of August 4, 2011, MedAssets had 58,866,124 fully diluted shares of Common Stock outstanding.

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