MedAssets, a provider of software for hospitals and other healthcare providers, went public Thursday and raised $213 million in the process.

Under the symbol MDAS, MedAsset sold 13.3 million shares at $16.

By the end of the day, MedAsset traded at $20.10 after hitting a high of $21.

MedAssets works with more than 125 heath systems which represent 2,500 hospitals and 30,000 non-acute care providers. Its software is used for revenue and financial management.

The company plans to use the proceeds to repay some $125 million in debt and for general corporate purposes, including product expansion and possible acquisitions.

Morgan Stanley & Co. and Lehman Brothers led the offering. Also participating were Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; Piper Jaffray & Co.; William Blair & Company, L.L.C. and Wachovia Capital Markets, LLC.