medibuy Selects Commerce One to Power Healthcare E-Marketplace.Business Editors/High-Tech Writers PLEASANTON, Calif. & SAN DIEGO--(BUSINESS WIRE)--May 2, 2001 Joint E-Marketplace Strategy Gives Healthcare Professionals a Fast and Convenient Way to Manage Medical Supply and Equipment Transactions medibuy.com Inc., an e-commerce business services provider for healthcare supply chain efficiency, today announced that it has chosen Commerce One(R), Inc. (Nasdaq:CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ), the e-marketplace company, to power medibuy's e-marketplace for healthcare. medibuy has established relationships with organizations representing more than 2,100 hospitals, 42% of the acute care market in the U.S., key industry suppliers and their affiliates. The company's aggregated buyer base represents combined 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. of $23 billion. medibuy has licensed Commerce One MarketSite(TM), the e-marketplace operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. , as the foundation for its e-marketplace. The e-marketplace will be aimed at providing healthcare professionals with a fast and convenient way to source and purchase medical and surgical products, commodity items, capital equipment as well as business and facility-related products. It is expected that with Commerce One solutions, buyers will be able to access medibuy's marketplace, which will feature customer-specific pricing, and submit online requests for products and services. Participating in equipment auctions and automating the entire requisitioning process using a Web-based requisition A written demand; a formal request or requirement. The formal demand by one government upon another, or by the governor of one state upon the governor of another state, of the surrender of a fugitive from justice. The taking or seizure of property by government. tool represent additional features available to buyers. Suppliers will also be able to leverage the e-marketplace to respond to RFPs and offer excess inventory for sale or auction. "medibuy's established healthcare and supply chain expertise combined with Commerce One's proven technology will enable healthcare professionals to streamline and automate procurement processes and drive supply chain efficiencies," said Dennis Murphy, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of medibuy. "We have chosen Commerce One because it offers a superior set of software and services, allowing us to quickly provide our customers with seamless access to our marketplace and applications. Working together, we expect to help hospitals lower costs while maintaining high levels of care." "We believe medibuy's emergence as a business services leader further demonstrates the continuing need for e-marketplaces that support key industries," said Rob Tarkoff, senior vice president, worldwide business development for Commerce One. "We are pleased that medibuy has selected Commerce One solutions to power its e-marketplace and look forward to helping them deliver enhanced efficiencies for the healthcare industry." In addition to providing e-marketplace services, medibuy offers procurement tools, integration solutions and hosted materials management Materials management is the branch of logistics that deals with the tangible components of a supply chain. Specifically, this covers the acquisition of spare parts and replacements, quality control of purchasing and ordering such parts, and the standards involved in ordering, tools to streamline and automate purchasing processes. Today's announcement follows medibuy's recent acquisition of empactHealth.com, an existing Commerce One customer. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the most widely recognized supply chain study, Efficient Healthcare Consumer Response (EHCR EHCR Electronic Health Care Record EHCR Efficient Healthcare Consumer Response ), conducted by Computer Science Corp. (CSC (Card Security Code) A three- or four-digit number printed on the back of credit cards for security purposes. Called "Card Verification Value" (CVV) by Visa, "Card Validation Code" (CVC) by MasterCard and "Card Identification (CID) by American Express and Discover, ), it is estimated that the healthcare products industry could save as much as $11 billion in supply chain process costs and significantly improve healthcare services delivery by improving efficiency and eliminating waste. medibuy's customers include HCA-The Healthcare Company, LifePoint Hospitals, Triad Hospitals Triad Hospitals is a Fortune 500 company based in Plano, Texas. It operates 54 hospitals in the United States. In February 2007 it received a merger/buyout offer from another company, and then in March 2007 it received a superior merger/buyout offer from Community Health Systems of , Health Management Associates and members of Premier Purchasing Partners. About medibuy medibuy is a business services provider that offers healthcare buyers and suppliers integrated Internet-based commerce software and hosted supply chain tools. medibuy is integrating with leading MMIS MMIS Medicaid Management Information System (various US states) MMIS Microsoft Mobile Information Server MMIS massively multiparticipant Internet sport MMIS Master of Management Information Systems and ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. systems and automating enterprise-wide procurement processes to enable buyers and sellers to reduce many of the inefficiencies of the traditional healthcare supply chain. medibuy's marketplace provides substantial benefits by reducing order processing and tracking costs and improving the utilization of data relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc products, equipment, services, transactions and market trends. medibuy has a growing network of strategic relationships with technology and healthcare leaders including Commerce One, Lawson Software (Lawson Software, St. Paul, MN, www.lawson.com) A software company that specializes in ERP for vertical markets including health care, retail, public sector, professional and financial services. , Healthcare.com, Premier Inc., and HCA HCA, n.pr See acid, hydroxycitric. . For more information on medibuy or to register with the company, please visit the company's Web site at www.medibuy.com. About Commerce One Commerce One(R) (Nasdaq:CMRC) is the e-marketplace company. Through its software, services and Global Trading Web(TM) of interconnected business communities, Commerce One enables worldwide commerce on the Internet. With headquarters in Pleasanton, Calif. and offices around the world, Commerce One can be reached by phone at 800/308-3838 or +1 925 520 6000 or via the Internet at www.commerceone.com. Forward Looking Statements The foregoing paragraphs include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements concerning the ability of suppliers to leverage the e-marketplace to respond to RFP's and to auction excess inventory, the belief that medibuy's selection of Commerce One technology demonstrates the continuing need for e-marketplaces and the anticipated benefits and efficiencies to be gained by healthcare professionals including reduced costs and the maintenance of quality care. The words "believe," "expect," "will" and similar phrases as they relate to Commerce One are intended to identify such forward-looking statements. Such statements reflect the current views and assumptions of Commerce One, and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These risks include, but are not limited to, reduction in demand for e-marketplace solutions, unexpected expenses, the possibility that e-marketplace solutions offered may not meet user expectations, the extent of customer adoption and utilization of the solutions provided, operational difficulties including unexpected delays integrating acquired companies, risks related to the World Wide Web, general economic conditions, intense and increasing competition in the market and volatility of the stock market. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 2000. Note to Editors: Commerce One, Many Markets. One Source. Global Trading Web, Commerce One.net, BuySite, MarketSite, eLink, MarketWise, Net Market Maker, XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Common Business Library, XML Development Kit, XML Commerce Connector, MarketSite Builder, and SupplyOrder are either trademarks or registered trademarks of Commerce One, Inc. |
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