TowerBrook Capital Partners L.P. Sells The Broadlane Group to MedAssets for $850 M

TowerBrook Capital Partners, L.P. announced today that it has signed a definitive agreement to sell its portfolio company, The Broadlane Group, Inc. to MedAssets, Inc. MDAS. Broadlane is a leading provider of cost management solutions to the U.S. healthcare industry. Under the terms of the agreement, MedAssets will purchase Broadlane for total consideration of $850 million in cash, including $725 million to be paid at closing and $125 million to be paid in January 2012. The transaction is subject to customary closing conditions and regulatory approvals, and is expected to be completed within 60 to 90 days.