MedAssets (Alpharetta, Georgia) reported the pricing of its initial public offering of 13.3 million shares of its common stock at a price to the public of $16 a share, hence at the high end of its previously disclosed $14-$16 range to raise proceeds of about $212.8 million.

Based on the final offering price, MedAssets market capitalization will be about $685 million. The company could net about $195.1 million from the offering after fees and expenses.

All of the shares are being sold by the company and they began trading yesterday on the Nasdaq Global Select Market under the symbol MDAS.

The company said it intends to use the proceeds to repay about $125 million in outstanding indebtedness and for general corporate purposes, including expansion of its technology-enabled solutions and possible acquisitions of complementary businesses, technologies or other assets.

The company and certain selling stockholders have granted the underwriters an option for 30 days to purchase an additional 2 million shares of common stock at the IPO price.

In afternoon trading yesterday, the stock gained an additional $4.80, or 30%, to $20.80. After opening at $19.75, the shares have traded between $19.28 and $21.

MedAssets, a provider of technology services aimed at improving financial metrics for healthcare institutions, first filed for its IPO in August (Medical Device Daily, Aug. 30, 2007).

Its two business segments focus on revenue cycle management and non-labor expense management. The company’s Spend Management segment operates a group purchasing organization. Its Revenue Cycle Management segment provides software and consulting services that help track and analyze a hospital’s revenue stream to increase collections and reduce account balances. It counts more than 125 health systems as customers.

Among the risks cited in the company’s SEC filing is that many of the technologies it uses may incorporate so-called “open source” software, and “we may incorporate open source software into other products in the future.” And it says, “If an author or other third party that distributes such open source software were to allege that we had not complied with the conditions of one or more of these licenses, we could be required to incur significant legal costs defending ourselves against such allegations.”

MedAssets also has purchased XactiMed and MD-X, and said that achieving the benefits of these purchases will depend on successful integration into existing operations, which includes various includes a risks.

For the six months ended June 30, the company reported a loss of $1.5 million, compared to a loss of $2.9 million in the first half of 2006. Revenue for the period rose to $108 million from $90.7 million in the first six months of 2006. The 2007 figures include the results of XactiMed, which the company acquired in May.

For the nine months ended Sept. 30, the company’s earnings fell to $6.4 million, from $6.9 million in the first nine months of 2006. Revenue for the period grew to $134.6 million from $109.2 million.

Bruce Wesson, a company director, through his holdings in Galen Associates, controls nearly 24% of the company.

Morgan Stanley & Co. and Lehman Brothers acted as joint book runners for the offering. Deutsche Bank Securities, Goldman, Sachs & Co.; Piper Jaffray & Co.; William Blair & Co. and Wachovia Capital Markets acted as co-managers.

In other financing news:

• Cardiovascular Sciences (Orlando, Florida) reported what it termed “an initial funding event” with Seven Palm Investments of Illinois, the amount of that “event” undisclosed.

After a recent assessment and restructuring of the company’s equity, the company and its investors said they will move ahead in the field of prevention of adhesions following surgery.

“We feel that we have developed a novel and exciting approach to this problem that plagues all surgeries and can be clinically significant in up to a quarter of all procedures,” said Larry Hooper, the company’s CEO since last November. “We have been gradually resolving various corporate issues that have slowed us down in the past, but we expect to see a rapidly accelerating pace of development from here on.”

The company said it recently completed its first arm of development and has produced several formulations of its material with anti-adhesive properties. The criterion for the various stages of development have been exceeded, it said in a statement.

“In addition, because of the additional six figure grant from the I-4 High Tech Corridor Council last year, the degradation studies were initiated ahead of schedule. In addition, several new areas have opened up recently that hold a promise of an even broader range of applications for the company’s technology arena.”

“This initial funding will allow us to resolve many of the obstacles that must be overcome in any business at this stage,” said Hooper. “It will also allow us to forge ahead at a more optimum pace for continuing to develop our technology in this exciting area.

• Haemacure (Montreal) reported that certain of its directors and officers have purchased directly and indirectly more than 1 million shares of the corporation on the secondary market at prices ranging from $0.12 to $0.155 a share. The purchases were made between Oct. 26 and Nov. 30.

“I am very excited with the rapid progress we have made since announcing our First-Patient-In-The-Clinic strategy for fibrin sealant on October 24, 2007,” said Joseph Galli, CEO/chairman of Haemacure. “Haemacure is well on its way to delivering on the turnaround plan initiated on Feb. 1, 2007, and will be positioned as the only independent, next generation, human fibrin sealant global supplier.”

Haemacure is developing human plasma protein products. Its lead product candidate, Hemaseel HMN, is a fibrin sealant about to enter pivotal Phase II/Phase III clinical trials.

Its second product candidate is thrombin, a component of its fibrin sealant. Follow-on development will focus on surgical hemostats, adhesion prevention, wound healing, regenerative medicine, drug delivery in select therapeutic areas and combination with biomaterials.

• Amicas (Boston), a developer of radiology and medical image and information management solutions, reported that its board has authorized the repurchase of up to $25 million of the company’s common stock from time to time in open market or privately negotiated transactions.