MedAssets Inc. posted a profit of $3.7 million for the third quarter that ended Sept. 30, compared with a net loss of $4.6 million in the same period a year earlier. Revenue for the quarter grew 54% to $76 million.
The Atlanta-based company is a group purchasing organization that also sells revenue cycle management and supply chain management software. The company went public in December 2007.
For the first nine months of the year, net income was $4.8 million, compared with a net loss of $6 million for the same period a year ago. Revenue for the first three quarters increased 46% to $196 million.
MedAssets’ stock was trading on the NASDAQ exchange at $12.81 a share as of late-morning Nov. 14, down 3.8%.
More information is available at medassets.com.
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