Theragenics Corporation(R) Secures Agreement with MedAssets; Company Will Distribute Both TheraSeed(R) and I-Seed to GPO Members.BUFORD, Ga. -- Theragenics Corporation(R) (NYSE NYSE See: New York Stock Exchange : TGX TGX Theragenics Corporation (stock symbol) TGX Trajectory Generator External ), a medical device company serving the cancer treatment and surgical markets, today announced a four-year agreement to provide brachytherapy brachytherapy /brachy·ther·a·py/ (-ther´ah-pe) treatment with ionizing radiation whose source is applied to the surface of the body or within the body a short distance from the area being treated. seeds to members of MedAssets Supply Chain Systems, a rapidly growing 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 contract will make TheraSeed(R), Theragenics' premiere palladium-103 brachytherapy seed, and I-Seed, the Company's iodine-125 based product, available to the GPO's customers, which include leading U.S. hospitals and healthcare systems. "MedAssets has a solid reputation for procuring quality products and value for its members," commented Ms. M. Christine Jacobs, Chief Executive Officer and President of Theragenics. "Both companies have a similar approach to service excellence, and our products are well-suited to MedAssets' customer base. We expect to experience a long-term and mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" relationship with this dynamic company." Theragenics will offer contract pricing to facilities participating in MedAssets' supply chain program beginning November 1. This agreement with MedAssets illustrates the Company's dedication to its core brachytherapy business. GPO agreements, such as this, allow hospitals that want access to the high quality TheraSeed and I-Seed brands the ability to purchase these products and remain compliant with their purchasing agreements. "Our relationships with GPOs represent a major new distribution channel for Theragenics' products and reinforce our position as a leader in the brachytherapy marketplace," said Ms. Jacobs. Brachytherapy is a recognized, proven and cost effective treatment for prostate cancer prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. . The procedure fits well with MedAssets' goal of providing cost effective options to its members. About MedAssets MedAssets, headquartered in Atlanta, Georgia, improves healthcare providers' margin and cash flow through revenue cycle and supply chain initiatives. As a strategic business partner, MedAssets can replace multiple vendors and decrease supply costs by 3-10% and increase net patient revenue by 1-3%. Proprietary information technology is used to work with and improve existing IT assets and work processes. MedAssets, through its revenue cycle subsidiary MedAssets Net Revenue Systems, provides best-of-breed revenue solutions including strategic pricing, pre-bill charge capturing, and ongoing chargemaster management tools, all of which have been Peer Reviewed by the Healthcare Financial Management Association. In addition, MedAssets offers technology enabled denials management, and the only technology enabled system that links supply cost data with charge data to ensure accurate charges and defendable markups for all patient identifiable supplies, including costly medical devices. MedAssets, through its supply chain subsidiary MedAssets Supply Chain Systems, operates the fastest growing group purchasing organization and supply chain services company in the U.S. and builds customized solutions encompassing procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. of common medical supplies, pharmaceuticals, physician preference supplies, food and nutrition Food and Nutrition See also cheese; dining; milk. accubation Rare. the act or habit of reclining at meals. alimentology Medicine. thescience of nutrition. allotriophagy Pathology. items, and capital equipment. For more information about MedAssets go to www.medassets.com or contact Gary Johnson Gary Johnson may refer to:
About Theragenics Corporation(R) Theragenics Corporation (NYSE: TGX) is a provider of brachytherapy and surgical products. In Buford, Ga., the Company manufactures and markets its premiere product, the palladium-103 TheraSeed(R) device (www.theraseed.com), and I-Seed, an iodine-125 based device, which are used primarily in the minimally invasive treatment of localized prostate cancer. Theragenics is the world's largest producer of palladium-103 for human use. Through its subsidiary, CP Medical (www.cpmedical.com), based in Portland, Ore., the Company manufactures and distributes medical products for diverse surgical markets including wound closure, cardiac pacing, and the general, dental, cosmetic and veterinary markets. For additional information, call the Company's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department at (800) 998-8479 or visit www.theragenics.com. This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, the accuracy of which is necessarily subject to risks and uncertainties, including, without limitation, statements regarding optimism for Theragenics' sales organization and its growth, the ability of MedAssets to provide a new sales channel for Theragenics' products, new sales and marketing initiatives, Theragenics' relationship with its distributors, and anticipated positive results in general. Actual results may differ materially due to a variety of factors, including, among other things, risks and effectiveness and execution of marketing and sales programs by Theragenics and its distributors, changes in product pricing by Theragenics or other brachytherapy seed producers, changes in costs of materials used in production processes (especially as it relates to isotope isotope (ī`sətōp), in chemistry and physics, one of two or more atoms having the same atomic number but differing in atomic weight and mass number. The concept of isotope was introduced by F. production), continued acceptance of the products by the market, continued demand for palladium-103, introduction and/or availability of competitive products by others, third-party (including CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. ) reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. , physician training, third-party distribution agreements, and other factors set forth from time to time in the Company's Securities and Exchange Commission filings. All forward looking statements and cautionary statements included in this document are made as of the date hereby based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward looking statement or cautionary statement. The information contained in the "About MedAssets" section was provided by MedAssets. |
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