SYNCOR WINS MAJOR BUYER : VALLEY FIRM GETS 4-YEAR CONTRACT.Byline: Deborah Adamson Daily News Staff Writer In a milestone for the company, Syncor International Corp. of Chatsworth on Friday said it received a contract from a major buyer of medical supplies and services worth a potential $270 million over four years. The agreement with 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 Inc. of Irving, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to , marks the largest contract ever received by the Valley firm from a hospital alliance. VHA is a consortium of 1,300 health care providers banded together to purchase goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . ``It's a real big positive for Syncor,'' said Marc Mullen, manager of national accounts for the Valley radiopharmaceutical radiopharmaceutical /ra·dio·phar·ma·ceu·ti·cal/ (-fahr?mah-soo´ti-k'l) a radioactive pharmaceutical, nuclide, or other chemical used for diagnostic or therapeutic purposes. firm. ``It's a huge vote of confidence from a major hospital alliance in the country.'' The new contract is the second one with VHA. The first one, a three-year agreement that expired last month, added about $45 million in annual revenues to Syncor. This four-year one has the potential of adding $67 million yearly. On Friday, Syncor's stock price rose -1/8 to 11-1/2. The company also is planning to expand its network of pharmacies This article is a list of major pharmacies (also known as chemists and drugstores) by country. Australia Pharmacies in Australia are mostly independently-owned by pharmacists, often operated as franchises of retail brands offered by the three major and will be relocating to Woodland Hills' Warner Center in a month, Mullen said. Syncor sells and services radiopharmaceutical products - radioactive compounds injected in·ject·ed adj. 1. Of or relating to a substance introduced into the body. 2. Of or relating to a blood vessel that is visibly distended with blood. injected 1. introduced by injection. 2. congested. into patients for diagnostic imaging of internal organs. It has 121 centers in 40 states and nine overseas. It has 2,200 employees, 200 of whom work in the Valley corporate offices. In 1993, Syncor ran into trouble when the threat of health care reform put pressure on all segments of the industry to cut costs. Hospitals - the majority of Syncor's clients - started to demand discounts. Syncor officials responded to the change in market conditions by focusing on more profitable products, cutting operating costs operating costs npl → gastos mpl operacionales and renegotiating contracts. The changes have paid off. For the first nine months of fiscal 1996, Syncor reported sales of $277 million and net income of $4.5 million (42 cents a share). Year-end results will be released in March. For fiscal 1995, revenues were $332 million and profits reached $4.7 million (45 cents). That compares with 1994 sales of $320 million and net income of $1.2 million (11 cents). |
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