Alliance Medical Corp. Acquires Paragon Healthcare Corp.Business Editors & Health/Medical Writers PHOENIX--(BW HealthWire)--Feb. 12, 2001 Expansion Enhances Alliance's Ability to Respond to Fast-Growing Demand for Medical Device Reprocessing Reprocessing may refer to:
Alliance Medical Corp. (Alliance), the country's leading medical device reprocessor, Monday announced that it has acquired Paragon Healthcare Corp. (Paragon), a specialist in reprocessing electrophysiology electrophysiology /elec·tro·phys·i·ol·o·gy/ (-fiz?e-ol´ah-je) 1. the study of the mechanisms of production of electrical phenomena, particularly in the nervous system, and their consequences in the living organism. 2. (EP) and cardiology cardiology Medical specialty dealing with heart diseases and disorders. It began with the 1749 publication by Jean Baptiste de Sénac of contemporary knowledge of the heart. Diagnostic methods improved in the 19th century, and in 1905 the electrocardiograph was invented. medical devices. The acquisition of Paragon reinforces Alliance's position as the country's top commercial reprocessor and establishes the company as the leader in EP catheter reprocessing services. "We have admired Paragon and their management team for some time. They've done a remarkable job of building a strong company with an enviable record of clinical excellence and superior customer relations," stated Alliance Chief Executive Officer Rick Ferreira. "We're delighted that we have a chance to combine the strengths of both companies at such an auspicious aus·pi·cious adj. 1. Attended by favorable circumstances; propitious: an auspicious time to ask for a raise in salary. See Synonyms at favorable. 2. Marked by success; prosperous. time. Alliance is experiencing increasing demand for all types of reprocessing, but interest in EP catheter reprocessing is especially high due to FDA's tighter restrictions on in-hospital reprocessing." "Alliance approached us with a terrific plan. The combination of our companies allows us to take full advantage of an exploding market for medical device reprocessing service. More importantly, it maximizes our customers' savings opportunities by providing them with access to Alliance's full complement of reprocessing savings programs," said Bill Stover stover stalks of maize plants from which mature corn cobs have been harvested as grain, or grain sorghum plants from which heads have also been removed. The stover is usually fed by turning the cattle into the field and is subject to fungal infection, sometimes causing mycotoxicosis. , II, chairman 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. of Paragon. Current plans are to continue Paragon's Spartanburg, S.C. operation while slowly integrating staff and reprocessing operations into Alliance's Phoenix headquarters. The shift is scheduled for completion by the end of this year. About Alliance Medical Corp. Alliance Medical Corp. (www.alliance-medical.com) is the industry's oldest and most experienced reprocessor of disposable medical devices. The company's programs allow hospitals and surgery centers, experiencing shrinking reimbursements, to maximize their finite resources while decreasing their medical waste. Alliance's customers include many of the country's top healthcare facilities as identified by U.S. News & World Report U.S. News & World Report Weekly newsmagazine published in Washington, D.C. U.S. News was founded in 1933 by David Lawrence (1888–1973) to cover important domestic events; he founded World Report in 1945 to treat world news. The two magazines were merged in 1948. , as well as large health systems, community healthcare providers and regional and national hospital group purchasing organizations A group purchasing organization is an entity that leverages the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. Many GPOs are funded by administrative fees that are actually paid by the vendors. . About Paragon Corp. Since its January 1996 incorporation, Paragon Healthcare Corp. has led the EP catheter reprocessing market. The company's clinically focused selling techniques and its customer relations strategies have become an industry standard. |
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