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Wachovia Nantucket ConferenceJune 23, 2008

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This presentation contains forward-looking statements that are made pursuant to the safe harbor

provisions of the Private Securities Litigation Reform Act of 1995. These statements speak only as of

the dates on which they are made, are based upon current assumptions and expectations, and involve

a number of risks and uncertainties. Investors are hereby cautioned not to place undue reliance on

these forward-looking statements, including, but not limited to, statements about MedAssets’ business

and prospects, statements about the company’s ability to maintain or expand market share within its

industry, statements about the integration of recent or proposed acquisitions, and statements about

the market acceptance of its products and services. These statements are subject to significant

business, economic, regulatory, competitive and other risks and uncertainties identified in MedAssets’

Form 10-K filed with the Securities and Exchange Commission on March 24, 2008. Consequently,

actual financial and operating results may differ materially from those expressed in these forward-

looking statements. MedAssets undertakes no obligation to update or revise any such forward-looking

statements.

The MedAssets SEC filings can be accessed for free by visiting the Investor Relations section of the

Company’s corporate website at www.medassets.com, or the SEC Web site at www.sec.gov.

Safe Harbor

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Leading provider of revenue cycle and spend management solutions focused entirely on delivering measurable, sustainable financial

improvement for hospitals & health systems

Serving 125+ health systems, 3,300+ hospitals and over 30,000+ alternate site providers

Founded in 1999; headquartered in Alpharetta, GA (metro Atlanta); approx. 1,600 employees

Major offices: Dallas, TX; El Segundo, CA; Englewood, CO; Cape Girardeau & St. Louis, MO; Mahwah, NJ; Seattle & Yakima, WA

Demonstrated consistent growth, with 2007 net revenue* reaching $209.5 million

40.6% compounded annual growth rate from 2004 (~70% derived from organic growth)

2007 adjusted EBITDA* was $66.2 million

No single customer or GPO vendor accounts for more than 4% of total net revenue

Overview

* Gives effect to the acquisitions of MD-X and XactiMed, and the 2006 and 2007 Financings as if they had occurred at the beginning of the period

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Business / Investment Highlights

Compelling value proposition for hospitals: improve margins and operating cash flow

Comprehensive, customer-centric solutions deliver measurable and sustainable financial improvement through increased revenue capture and reduced supply cost trends

$6.5 billion opportunity in underpenetrated market with strong growth potential

Underlying 4-6% growth in hospital supply expenses

Complex and ever-changing reimbursement environment drives need for RCM expertise

Strong organic growth profile with recurring and predictable annual revenues

Highly visible due to multi-year contracts and 85+% contractually-recurring revenue

Organic growth driven by share gains and successful growth of acquired businesses

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Consistently higher growth in hospital costs

versus overall inflation Complexities inherent in procuring the vast

number and quantity of supplies 35,000 SKUs used by a typical hospital MedAssets maintains unique 4MM SKU

master item file with 40MM price points Historically profitable procedures are

becoming less profitable

Spend Management

Cost Pressures

Source: Orthopedic Network News, January 2006

(%)

Hospital Industry – Financial Challenges

Joint Implant Cost as % of ReimbursementMS DRG 470 Total Joint Replacement – Lower Extremities

(1) Source: America’s Health Insurance Plans

Complex payor mix

Declining reimbursement growth

Denied claims, partial payments Approximately 14% of hospital invoices were

rejected by payors in 2006 (1)

Changing gov’t reimbursement requirements Medicare: Increase in number of DRGs from

538 to 745 (with medical-severity tiers)

Rise of consumer-directed healthcare / high-deductible health plans

“Retail” model vs traditional “wholesale” model

Ten-fold increase in individuals covered by consumer-directed accounts since 2004

Hospitals’ existing information infrastructure are poorly equipped to adapt

Medicare Recovery Audit Contracts (RAC)

Revenue Integrity Pressures

Revenue Cycle Management

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The MedAssets Solution

MedAssets can improve customer operating margins by 1.5% to 5.0%

MedAssets successfully

mitigates hospitals’ trend of

declining revenue growth /

increasing supply cost growth

ASP-based solutions with

minimal or no capital expense

ROI-driven consultative sales

Improved cash flow measured

in months, not years

Behavior change measured

through financial targets

Enterprise ImplementationEnterprise Implementation

Flexible ASP-based TechnologyFlexible ASP-based TechnologyStrategic Sales and Account ManagementStrategic Sales and Account Management

Enterprise Financial Performance TargetsEnterprise Financial Performance Targets

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Product/Service Overview

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Front End Scheduling, Pre-Registration,

Patient Admission

Clinical OperationsCharging, Coding, Utilization

Back EndBilling, Follow-up, Collections

Hospital Revenue Cycle Solutions

The MedAssets RCM solution set can increase net patient revenue by 1-3%

Partnered Solution / In Development

Current MedAssets Solutions

Insurance Eligibility & Verification Financial

Counseling

Scheduling, Registration,

Bill Estimation& POS Cash Collection

ClaimsScrubbing &

ElectronicBilling

Expected Reimbursement,

Contract Modeling

DenialsMgmt,

Payment Collections

A/R Mgmt, Cash Posting

ChargeCapture

Coding andDocumentation

Case MgmtUtilization Review

Business Intelligence (Revenue / Margin Analytics & Decision Support)

Data ManagementChargemaster and Strategic Pricing

Consulting & Transformational Services / Software Tools & Workflow

Product / Service Offerings

Scheduling,Registration

Medical Necessity

Hospital Revenue Cycle Operations

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Accuro Significantly Enhances MedAssets’ total RCM Solution Offerings

Contract Manager ranked #1 and CodeCorrect CDM ranked #2 in charge master by KLAS

CarePricer (patient bill estimator) is an important product currently not offered by MedAssets

Expanded Customer Base in a Fragmented Market

Accuro is a leading RCM player in a highly fragmented industry

Combined install base now includes 3,300+ hospital customers

Underpenetrated customer base offers significant cross selling opportunities for MedAssets’ comprehensive RCM and Spend Management solutions

Additional RCM Sales Force Should Accelerate Growth

Combined national sales team should accelerate penetration of expanded customer base

Substantial Number of Growth and Synergy Opportunities

Leverage sales force to win new business and cross-sell comprehensive RCM and Spend Management capabilities to existing customers

Create EBITDA margin expansion through coordination of product development resources, segmentation of overlapping products, and elimination of duplicative

corporate overhead

Accuro: Highly Strategic & Complementary

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Front End Scheduling, Pre-Registration,

Patient Admission

Clinical OperationsCharging, Coding, Utilization

Back EndBilling, Follow-up, Collections

Hospital RCM Solution Sets

Claims & Denial Management

Claims & Denial Management

Collections & A/R Services

Collections & A/R Services

Revenue Capture Solutions

Revenue Capture Solutions

Patient Access Management

Patient Access Management

• Claims Management• Medicare Direct

Claims Management• Remittance

Management• Denial Management• Reports Management• Claims Status• Payer Contract

Management (underpayment analysis)

• Claims Management• Medicare Direct

Claims Management• Remittance

Management• Denial Management• Reports Management• Claims Status• Payer Contract

Management (underpayment analysis)

• Accounts Receivable Services

• A/R Valuation• Silent PPO Recovery

Services• Underpayment

Recovery Services• Denials Management

Services• Medicare RAC Services• Collections

Management

• Accounts Receivable Services

• A/R Valuation• Silent PPO Recovery

Services• Underpayment

Recovery Services• Denials Management

Services• Medicare RAC Services• Collections

Management

• Charge Capture Audit, Claims Audit & Recovery Services

• Clinical Documentation Improvement

• Coding and Compliance

• Case Management Workflow

• Concurrent Denials Recovery

• Charge Capture Audit, Claims Audit & Recovery Services

• Clinical Documentation Improvement

• Coding and Compliance

• Case Management Workflow

• Concurrent Denials Recovery

• Patient Access Workflow

• Patient Bill Estimation

• Point-of-Service Collections

• Medicare Advanced Beneficiary Notification (ABN)

• Medicaid Eligibility and Charity Screening

• Patient Access Workflow

• Patient Bill Estimation

• Point-of-Service Collections

• Medicare Advanced Beneficiary Notification (ABN)

• Medicaid Eligibility and Charity Screening

Charge Data Integrity Solutions

Charge Data Integrity Solutions

• Chargemaster Management

• Pricing Management• Billing and Coding

Research Tools• Comparative Rate

Modeling • Defensible Pricing

Modeling • Supply and Revenue

Linkage

• Chargemaster Management

• Pricing Management• Billing and Coding

Research Tools• Comparative Rate

Modeling • Defensible Pricing

Modeling • Supply and Revenue

Linkage

Hospital Revenue Cycle Operations

Decision Support and Performance Analytics

• Budgeting• Contract Management• Key Indicators

• Budgeting• Contract Management• Key Indicators

• Cost Accounting• Clinical Analytics• Performance Management

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MedAssets Spend Management

Commodities Medical Devices Capital Equipment

Data-enabled group buys Proprietary market research and

demand forecasting Transparency of provider data

enhances basis for pricing negotiations

Small but important ancillary component of GPO offering

Routinely saves providers 5% to 18% on physician preference items (PPI)

Clinical outcomes-driven, fact-based approach to achieve physician ownership and behavior change

Local, customized contracting and solutions enabled by proprietary technology and data

Spend Management Solutions

MedAssets’ Spend Management solutions can save 3-10% of total supply expenses

Software Tools and Workflow

Business Intelligence

Consulting Services

3rd largest and fastest growing GPO Customized solutions and flexible

contracting model Data mgmt & transparency delivers

additional savings of 200-400 bps Programs: med/surg, pharma, lab,

dietary, purchased services Portfolio consists of 1,300+ contracts

with 1,000+ manufacturers, distributors and other vendors

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CD

M In

teg

rity

CrossWalk®

The leading industry data solution that efficiently integrates a hospital’s supply chain and the revenue cycle

Revenue Cycle Management Solutions

Revenue Cycle Management Solutions

Spend ManagementSolutions

Spend ManagementSolutions

CrossWalk ® 1641$6478%140754673657#3146598795%21558

1641$6478%140754673657#3146598795%21558

• Automatically and continuously links providers’ supply cost data to charge data

• Critical to hospitals’ ability to assess the true profitability of their services

• Automatically and continuously links providers’ supply cost data to charge data

• Critical to hospitals’ ability to assess the true profitability of their services

ChargemasterData

MasterItem File

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Sales Organization

Sales cycle ranges from 3-12 months

Long-term customer relationship management

Allows for sustainable financial improvement

Customer development costs efficiently applied

Innovation input on key unsolved issues

Barriers to competitive entry include:

Broad, demonstrated customer value

C-suite credibility and access in a single partner

National sales infrastructure

Flexible technology and service platform

Sales Team

SVPof Sales

(Enterprise)

VP of New CustomerDevelopment

(New Customers)

SM Sales Specialists

VP of Existing CustomerDevelopment

(Upsell and Cross-sell)

RCM Sales Specialists

130+ Person National Sales Force

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MedAssets’ Unique Value Proposition – Case Studies

Revenue cycle management solutions improved net patient

revenue by $8.3mm (vs. prior year), and Spend management

savings totaling $6.5mm, or 3.2%, of annual supply spend of

$200mm.

Spend management savings (vs. prior year) totaling $24mm, or

5.5%, of annual supply spend of $434mm.

Revenue cycle management solutions improved net patient revenue by $1.2mm, or 1.1%, over prior year.

– $110mm not-for-profit hospital in the Southeast

Expanding Penetration & Value Over TimeFinancial Improvement Examples

2006

2004 Engaged MedAssets for group purchasing

2005Added revenue cycle management solutions – chargemaster management, charge capture and pricing tools

2007Added additional revenue cycle management tools, spend management consulting, decision support solutions and CrossWalk

100% Success Rate in Meeting Guarantees

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Competitive Landscape

Revenue Cycle Management

Spend Management Consulting

MedAssets’ Competitive Strengths:

Comprehensive and flexible suite of solutions

Long-term and expanding customer relationships

Superior proprietary data & technology

Claims management software ranked #1 by KLAS

Payer contract management software ranked #1 by KLAS

Decision support software ranked #1 by KLAS in 5 of last 8 years

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Financial Overview

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Key Financial Characteristics

Highly recurring revenue base

Very high customer retention

Strong organic growth

Strategic acquisition-based growth

Minimal capital expenditure or working capital needs

High free cash flow conversion

No direct reimbursement risk

Highly profitable

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Annual Net Revenue – excluding Accuro

Net Revenue Contribution by Segment

($MM) Organic growth driven primarily by increased penetration of existing customers and addition of new customers

Highly recurring and visible due to long-term customer contracts

Acquisitions primarily focused on product and service expansion

Balanced revenue contribution from RCM and SM

% RCM

% SM

18%

82%

21%

79%

45%

55%

As Reported Pro Forma* (unaudited)

48%

52%

* Gives effect to the acquisitions of MD-X and XactiMed, and the 2006 and 2007 Financings as if they had occurred at the beginning of the period

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Revenue Predictability

Annual revenue is highly visible…

Source Recurring

ASP-Subscription fees (RCM / SM)

Administrative fees (SM)

Per-transaction fees (RCM)

Contingent fees (RCM / SM)

Implementation fees (RCM / SM)

Consulting / Professional fees (RCM / SM)

…but may exhibit some quarter-to-quarter variability

GPO vendor reporting of hospital purchases

Financial improvement acceptance

Software acceptance (ASP and installed applications)

(1) Adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered in isolation or as an alternative to income from operations, net income (loss), cash flows from continuing operating activities or any other measure of performance or liquidity derived in accordance with GAAP. Investors are strongly urged to review the reconciliation of net income (loss) to Adjusted EBITDA, along with the Company’s consolidated financial statements included in its Form 10-K filed with the SEC on 3/24/08. In addition, because Adjusted EBITDA is not a measure of financial performance under GAAP and is susceptible to varying calculations, the Adjusted EBITDA measure, as presented, may differ from and may not be comparable to similarly titled measures used by other companies.

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Adjusted EBITDA (1) – excluding Accuro

Adjusted EBITDA

($MM) Scalable, ASP-based technology model

Highly fixed-cost business

Leverage infrastructure to deliver new products and services

Ability to expand Adjusted EBITDA margins over the long term

33.0% 31.7%

As Reported Pro Forma (unaudited)

% EBITDA Margin (As Reported)

% EBITDA Margin (Pro Forma)

34.7%

31.6% 31.6%

32.1%

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Accuro – Revenue & EBITDA Growth

Highly-predictable business on a forward 12-month basis

Nearly 90% of Accuro’s revenue is recurring due to ASP-related subscription fees, which is

very comparable to MDAS’s current trends

Accuro is expected to deliver $37-40 million in revenue in 2H-08, with adjusted EBITDA

margins 200 bps higher than consolidated 2007 Medassets adjusted EBITDA margin

Assumed a 7.1.08 transaction close; not adjusted for potential deferred revenue discounts

Consolidated adjusted EBITDA margins is expected to increase 75-100 bps in 2009 due to

potential Accuro revenue/operating synergies and reduced risk of operating strategy

(excluding any acquisition-based charges)

Transaction expected to be break-even to slightly dilutive to 2008 adjusted EPS

Expected to be accretive to 2009 adjusted EPS, including synergies and exclusive of

purchase accounting adjustments

Transaction details: MedAssets paid ~ $207 million in cash and 8.85 million shares of MDAS

common stock, plus a deferred, non-contingent payment of $20 million (in cash or stock) due

on the 1st anniversary of transaction closing

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Capitalization Table

(In $000s) At 3.31.08 Pro forma

(estimated)

Cash and Cash Equivalents$ 127,977

Debt

Revolving Credit Facility (Capacity: current $110MM; pro forma $125MM) –

Notes Payable, Including Current Portion197,779

Finance Obligation, Including Current Portion10,108

Total Long-Term Debt, Including Current Portion207,887

Total Stockholders' Equity231,960

Total Capitalization439,847

Debt / LTM Adj. EBITDA 3.3x 3.5x

Net Debt / LTM Adj. EBITDA 1.3x 3.3x

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Investment Highlights

Compelling value proposition for hospitals

Best-of-breed technology-enabled solutions

$6.5 billion opportunity in underpenetrated market with strong growth potential

Strong organic growth

Highly recurring revenue base

Very high customer retention

Strategic acquisition-based growth

Minimal capital expenditure or working capital needs

High free cash flow conversion

Our Mission

To partner with hospitals and health systems to enhance their financial strength through improved operating margins and cash flow