MedAssets Inc. (MDAS) hired former General Electric Co. (GE) executive Michael P. Nolte as its new executive vice president and chief operating officer. He will succeed Rand A. Ballard, who will continue as senior executive vice president and chief customer officer.
The provider of health-care management software said Nolte was most recently vice president and general manager of the Americas services business for GE Healthcare IT, where he oversaw GE's health-care software portfolio.
"The delineation of responsibilities expands my capacity to serve the needs of our clients in support of their health-care mission," said Ballard in Monday's press release.
MedAssets reported last month it swung to a fourth-quarter profit as revenue jumped 47%.
Shares closed Friday at $13.66 and were inactive premarket. The stock is up 48% so far this year.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; firstname.lastname@example.org