Advanced Medical announces group purchasing contract; signs IV products agreement with Premier Inc.SAN DIEGO--(BUSINESS WIRE)--March 17, 1997--Implementing yet another strategic growth initiative, Advanced Medical Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AMA (Automatic Message Accounting) The recording and reporting of telephone calls within a telephone system. It includes the calling and called parties and start and stop times of the call. ), parent company of IMED-IVAC, has announced a dual-source agreement with Premier Inc., the nation's largest healthcare alliance enterprise, for intravenous (IV) infusion pumps and related disposable administration sets. The five-year agreement with Advanced Medical, which offers savings to Premier hospitals on purchases of the Company's large volume infusion pumps, includes a two-year renewal option. Pricing will be effective April 1, 1997. Advanced Medical has a significant market share among Premier hospitals, which includes many nationally known institutions. Locally, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Children's Hospital A children's hospital is a hospital which offers its services exclusively to children. The number of children's hospitals proliferated in the 20th century, as pediatric medical and surgical specialties separated from internal medicine and adult surgical specialties. is a member. "We are very excited about being a business partner with Premier," said Jake St. Philip, Vice President, North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Sales. "We believe that our extensive product line will provide a cost-effective, clinical choice for the membership." Group purchasing of supplies, pharmaceuticals and equipment is one of the major programs Premier operates to support owners' and affiliates' efforts to hold down healthcare costs, improve quality, and stay ahead of advances in clinical knowledge, technology and market changes such as managed care. Premier's total annual group purchasing volume is estimated at $10 billion. Strategic Partnership Forged With Premier The dual-source agreement for large volume infusion pumps and related disposables is the Company's second contract with Premier. In January, Advanced Medical announced a five-year sole-source agreement with Premier to provide tympanic tympanic /tym·pan·ic/ (tim-pan´ik) 1. tympanal; of or pertaining to the tympanum. 2. bell-like; resonant. tym·pan·ic adj. 1. and electronic thermometers to Premier members. William J. Mercer, Advanced Medical President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said: "Our goal is to become a global leader in advanced medical instruments and devices. Winning these Premier contracts allows us the opportunity to strengthen our position around the patient bedside in the world's largest health care market place." "Access to the Premier membership was a key strategic milestone for the Company. This agreement provides the foundation to offer our broad range of drug infusion instruments and proprietary disposables to Premier hospitals, which comprise over one-third of the hospitals in the U.S. We believe that this partnership may also provide access to a major customer base for new products in our development pipeline that will further assist the Premier membership in reducing operating costs," Mercer added. Importance To Area Economy "We are extremely pleased to be able to keep this business in San Diego," Mercer noted. "We employ over 600 people in the San Diego area, and we operate maquiladora ma·qui·la·do·ra n. An assembly plant in Mexico, especially one along the border between the United States and Mexico, to which foreign materials and parts are shipped and from which the finished product is returned to the original market. facilities with over 1000 employees in Tijuana. We believe that this agreement will result in increased volume for both of these manufacturing sites." Premier maintains offices in Charlotte, N.C., Chicago, San Diego, and Washington, D.C. to serve its 250 owners, the 700 hospitals and healthcare facilities they operate, and approximately 1,100 other affiliated hospital and healthcare organizations. Advanced Medical is a global leader in infusion systems. In November 1996, the Company acquired IVAC IVAC Islington Voluntary Action Council (England, UK) IVAC Insert Valid Access Card (satellite TV hacking) IVAC International Video & Audio Convention IVAC Idle Air Control Valve Medical Systems Inc. and merged its IMED IMED International Medical Education Directory Corporation subsidiary with IVAC. Advanced Medical's principal line of business is the design, manufacture and marketing of intravenous infusion therapy products, patient monitoring instruments and related disposables. Advanced Medical's products are distributed in more than 120 countries worldwide. In addition to its San Diego world headquarters and manufacturing facility, the Company also operates manufacturing facilities in Creedmoor, N.C., Basingstoke, Hampshire, U.K., and Tijuana, Mexico. Statements in this news release which are not historical facts, including statements about expectations regarding financial benefits to Premier member hospitals and to the Company and future business opportunities are forward-looking statements that involve risk and uncertainties. Risk factors, including without limitation changes in the market and competition, are detailed in the Securities and Exchange Commission filings of Advanced Medical Inc. and IVAC Medical Systems Inc., particularly their respective Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filings for the year ended Dec. 31, 1995. CONTACT: Advanced Medical Inc. Barbara Burkett, 619/458-7038 or Premier Inc. Laura Yandell, 704/697-5425 or Ketchum Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Jennifer Floto, 310/444-1307 or Financial Relations Board Stacy Roughan, 310/442-0599 (General Information) Moira Conlon, 310/442-0599 (Investor/Analyst Contact) Steven Seiler, 310/442-0599 (Media Contact) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion