Cook Incorporated Signs Expanded Contract With Novation for Diagnostic and Interventional Radiology Devices.Business Editors/Health/Medical Writers BLOOMINGTON, Ind.--(BUSINESS WIRE)--April 3, 2003 In order to make more innovative technology available to VHA VHA Veterans Health Administration VHA Variable Housing Allowance VHA Villages Homeowners Association VHA Voluntary Hospitals Association VHA Virtual Home Agent VHA Very High Altitude VHA Vapor Hazard Area VHA Vermont Holstein-Friesian Association and UHC UHC UnitedHealthcare UHC United Health Care UHC University Hospitals of Cleveland UHC United Hitech Corporation UHC Udvar-Hazy Center (National Air and Space Museum) UHC University Health/System Consortium UHC Unburned Hydrocarbons members through its Novation The substitution of a new contract for an old one. The new agreement extinguishes the rights and obligations that were in effect under the old agreement. A novation ordinarily arises when a new individual assumes an obligation to pay that was incurred by the original party agreement, Cook Incorporated has signed an expanded contract with Novation, the supply chain management company for VHA Inc. and University HealthSystem Consortium (UHC). The new agreement adds important new product areas to the contract, said Mike Hughes, director, corporate accounts, Cook Group Incorporated. "Under one new agreement, Novation agreed to make Cook's devices for managing thrombus thrombus /throm·bus/ (throm´bus) pl. throm´bi a stationary blood clot along the wall of a blood vessel, frequently causing vascular obstruction. , including vena cava filters and infusion catheters, available to its members, and a second agreement has added an expanded number of Cook products for peripheral vascular disease Peripheral Vascular Disease Definition Peripheral vascular disease is a narrowing of blood vessels that restricts blood flow. It mostly occurs in the legs, but is sometimes seen in the arms. ," Hughes explained. "These agreements will be in effect for 24 months and will make substantially more Cook products available to VHA and UHC members." All products listed are produced and marketed by Cook Incorporated's diagnostic and interventional product division, Hughes added. Based in Irving, Tex., Novation was established in January 1998 through a combination of the supply programs of VHA and UHC, two national health care alliances. Novation serves the purchasing needs of more than 2,400 members and affiliates of VHA and UHC. Novation also serves more than 5,400 members and clients of HealthCare Purchasing Partners International (HPPI HPPI - High Performance Parallel Interface ), another 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. owned by VHA and UHC. The leading supply chain management company in health care, Novation manages more than $21 billion in annual purchases for VHA, UHC and HPPI members. For more information, go to www.novationco.com. With international headquarters in Bloomington, Ind., privately held COOK(R) (www.cookgroup.com/) is a leading designer, manufacturer and global distributor of minimally invasive medical device technology for diagnostic and therapeutic procedures. Since its founding in 1963, Cook has created innovative technologies for stents and stent-grafts, catheters, wire guides, introducer needles and sheaths, embolization coils, tissue-engineered medical biomaterials, vena cava filters, implanted cardiac lead extraction equipment and other minimally invasive medical devices. |
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