Futura Awarded Sole Source Contract with MAGNET; Three-Year Agreement with GPO Includes Retracting Safety Scalpels and Safety Lancets.Business Editors and Health/Medical Writers BIOWIRE2K SOLANA BEACH, Calif.--(BW HealthWire)--April 1, 2002 Futura(R) Medical Corp. (FMC See fixed mobile convergence. ), a division of Medisys PLC and a leader in healthcare worker sharps safety, has announced a three-year, sole source product agreement for its line of disposable safety scalpels and safety lancets with the Mid-Atlantic Group Network of 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. Inc. (MAGNET), a leading 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. (GPO). The agreement is effective April 1, 2002, and will provide MAGNET's 12,000 healthcare providers with access to Futura's line of retracting safety scalpels (Futura(TM) Safety Scalpels) and retracting single-use lancets (Safe-T-Lance(TM) Plus). Current MAGNET member organizations include: Association Management Resources; Connecticut Hospital Association Shared Services Program; Hospital Central Services Cooperative Inc.; Joint Purchasing Corp.; Monmouth Ocean Healthcare Cooperative; PRIME; and Southwest Ohio Healthcare Affiliates Inc. "As Futura strives to help the healthcare industry attain higher standards for medical product safety, our new agreement with MAGNET for two key sharps safety products represents a significant step forward in protecting the safety of healthcare personnel," said Harold Callicoat, president and chief executive officer of Futura Medical. Futura's line of disposable safety scalpels represents the only automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. retractable re·tract v. re·tract·ed, re·tract·ing, re·tracts v.tr. 1. To take back; disavow: refused to retract the statement. 2. scalpel product offering on the market today. With Futura's scalpels, clinicians control the exposed or shielded position of the blade via a sliding inset. The spring activated safety mechanism retracts the blade into the device body post-use to help prevent blade injuries associated with surgical procedures Surgical procedures have long and possibly daunting names. The meaning of many surgical procedure names can often be understood if the name is broken into parts. For example in splenectomy, "ectomy" is a suffix meaning the removal of a part of the body. "Splene-" means spleen. . The Safe-T-Lance(TM) Plus single-use lancet lancet /lan·cet/ (lan´set) a small, pointed, two-edged surgical knife. lan·cet n. is available in three sizes: low flow, medium flow and high flow. It requires no pre-loading of the needle and has a special spring action mechanism that provides a comfortable and quick method for blood sample retrieval. The needle remains hidden prior to and after use, allowing for one-time use and protection for the patient and administrator. About MAGNET MAGNET is one of the oldest, largest, and most experienced shared service organizations in the country. Today, MAGNET serves approximately 12,000 providers in 17 East Coast and Midwest states plus the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Members include 775 hospitals, more than 1,500 alternate care facilities, and 5,400 physician practices and clinics with a contract portfolio that includes equipment, services, commodities and the newly emerging area of niche/boutique (innovative and cost-reducing) products. About Futura Medical Futura, the new leader in healthcare worker safety, designs, manufactures and distributes a complete line of safety products for a variety of medical applications. The company is dedicated to providing innovative and technologically superior products that improve the safety and protection of healthcare professionals against sharp injuries. Futura Medical Corp. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Medisys PLC. More information about Medisys PLC is available at www.medisys-group.com. For more information on Futura Medical Corp.'s products and services, call 858/350-0130, or visit www.futuramedical.com. |
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