Beckman Coulter Signs $77.5-Million Agreement with MedAssets to Supply Automation and Chemistry Products.Business Editors & Health/Medical Writers BIOWIRE2K FULLERTON, Calif.--(BUSINESS WIRE)--Oct. 29, 2002 Beckman Coulter This article needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , Inc. (NYSE NYSE See: New York Stock Exchange :BEC) announced today it has signed an agreement with MedAssets HSCA HSCA House Select Committee on Assassinations HSCA Harvard-Smithsonian Center for Astrophysics HSCA Hawaii State Chiropractic Association HSCA Hazardous Substances Control Act HSCA High School Culinary Arts , Inc., the largest independent group purchasing organization 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. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , to supply automation and chemistry systems, test kit supplies and services. Valued at $77.5 million over five years, the agreement applies to MedAssets HSCA's 16,000 members including more than 1,500 hospitals. The agreement includes Beckman Coulter products such as the Power Processor pre-analytical system, which automates patient sample preparation and analysis, and the SYNCHRON LX(R)20 PRO, the only chemistry analyzer on the market with closed-tube sampling technology for fast, accurate test results and improved lab safety. The automation and chemistry agreement expands the relationship between MedAssets HSCA and Beckman Coulter and complements the companies' existing contracts for hematology, coagulation coagulation (kōăg'y  lā`shən), the collecting into a mass of minute particles of a solid dispersed throughout a liquid (a sol), usually followed by the precipitation or , immunodiagnostics, and flow cytometry flow cytometry (flōˑ sī·t ˑ·m products and services. "The expansion of our Beckman Coulter relationship enables us to meet the needs of our growing membership, especially our new affiliation with Shared Services shared services, n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. of Atlanta," said Gene Banner, senior vice president of contracts and member services for MedAssets HSCA. Mary Ellen Kimmeth, director of the MedAssets HSCA laboratory program, added, "After we evaluated the Beckman Coulter chemistry product line at our laboratory advisory committee meeting, there was consensus that adding Beckman Coulter would enhance our contract portfolio in meeting the needs of our membership." According to Jeff McHugh, Beckman Coulter vice president, diagnostics commercial operations, Americas, the new agreement will allow more members of MedAssets to take advantage of Beckman Coulter's diagnostic products and services. "With this latest agreement, we now are under contract with MedAssets to provide its members with our entire line of diagnostics instrument systems, supplies and services," said McHugh. "In addition, MedAssets' members will have wider access to our automation and chemistry product lines so that they can fully benefit from increased lab efficiency, improved lab worker and patient safety, and lower overall healthcare costs." MedAssets HSCA, Inc., headquartered in St. Louis, is the third largest group purchasing organization in the country, serving more than 16,000 healthcare providers, nationwide, with purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. approaching $7 billion in gross throughput. It is MedAssets HSCA's mission to be the market-leading, customer-oriented supply chain and contract services company, focused on maximizing the financial performance of healthcare institutions. For more information about MedAssets HSCA, contact Gary Johnson, vice president for marketing and marketing services at gjohnson@medassets.com. Beckman Coulter, Inc. is a global biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. company headquartered in Fullerton, Calif. The company develops and markets instruments, chemistries, software and supplies that simplify and automate laboratory processes throughout the biomedical testing continuum. Through pioneering medical research and drug discovery, specialty testing, and patient care diagnostics, Beckman Coulter supports all phases of the battle against disease. Annual sales for the company totaled $2 billion in 2001, with 62 percent of this amount generated by recurring revenue from supplies, test kits and services. For more information, visit www.beckmancoulter.com. |
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