Printer Friendly

SYNCOR WINS CONTRACTS TO PROVIDE RADIOPHARMACEUTICAL SERVICES TO AMERINET AND GALEN HEALTH CARE

 CHATSWORTH, Calif., March 31 /PRNewswire/ -- Syncor International Corporation (NASDAQ: SCOR) today announced the signing of major contracts with AmeriNet and Galen Health Care, Inc. (NYSE: GHC) to supply unit dose radiopharmaceuticals on a national basis. The contracts have a combined potential value of approximately $60 million over three years.
 "These contracts are a big step toward attaining our goal to increase sales to $500 million and achieve a 10 percent pre-tax profit by 1998," said Gene McGrevin, president and chief executive officer. "We are able to meet the needs of major group hospital accounts because of the extensive geographic coverage of our national pharmacy service network.
 "In addition to the AmeriNet and Galen contracts, Syncor has strategic alliances with other significant healthcare providers. Some of Syncor's other alliances include Sun Health, Voluntary Hospitals of America, American Health Care Systems, EPIC Health Care Management, Hospital Corporation of America which includes Health Trust and Quorum Inc., and National Medical Enterprises. Most of these contracts were signed in the early 1990s."
 Both the AmeriNet and Galen contracts are three-year agreements to purchase radiopharmaceuticals from Syncor. The AmeriNet contract is effective April 1 and the Galen contract became effective March 15, 1993. The contracts also include an agreement with Du Pont Merck Pharmaceutical Co., a supplier of Syncor, for bulk purchases of radiopharmaceuticals. Healthcare providers who sign a three-year commitment are provided with a Syncor Unit Dose Manager(TM) (UDM) software and hardware system. Syncor's UDM is a turnkey system for managing, consolidating and simplifying all record keeping aspects of a nuclear medicine department.
 AmeriNet, based in St. Louis, Mo., is the leading nationwide healthcare group purchasing organization for more than 2,200 members and is the country's largest national purchasing group servicing both non- profit and for-profit facilities. Galen, of Louisville, Ky., owns and operates 75 hospitals in 19 states and two foreign countries.
 Syncor International Corporation operates an expanding nationwide network of 98 nuclear pharmacy service centers. The company compounds and dispenses patient specific intravenous drugs and solutions for use in diagnostic imaging and a complete range of high-tech pharmacy services. Syncor services over 6,000 hospitals, clinics and physicians' offices. Syncor is the only national pharmacy network of its kind that provides this combination of diagnostic, therapeutic and monitoring services to hospitals and alternate markets.
 -0- 3/31/93
 /CONTACT: Mary Meusborn, investor relations of Syncor International Corporation, 818-717-4643, or Bonnie Sterling of Noonan/Russo Communications, Inc., 212-979-9180, for Syncor International Corporation/
 (SCOR)


CO: Syncor International Corporation ST: California IN: MTC SU: CON

PS-OS -- NY009 -- 1376 03/31/93 09:15 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 31, 1993
Words:431
Previous Article:BRADLEES ELECTS PATRICIA M. POMERLEAU TO BOARD OF DIRECTORS
Next Article:MEDCO RESEARCH NAMES CHIEF FINANCIAL OFFICER
Topics:


Related Articles
CYTOGEN ANNOUNCES APPOINTMENT OF REGIONAL SALES MANAGERS
AMERINET AND McKESSON CORP. SIGN TWO AGREEMENTS TOTALING $90 MILLION ANNUALLY
'AmeriNet, Inc. Announces Extension of Contract With U.S. Surgical'
/C O R R E C T I O N -- AmeriNet, Inc/(Correction Notice)
AmeriNet Awards Supply Contract For BioStar Products; Boulder Firm to Provide Rapid Diagnostic Tests to AmeriNet Members
Penske Logistics and AmeriNet Sign Agreement
W.W. Grainger, Inc., Reaches Purchasing Agreement with AmeriNet
Pennsylvania's Non-Profit Nursing Home Association Affiliates With Administrative Resources, Inc./AmeriNet
SYNCOR WINS MAJOR BUYER : VALLEY FIRM GETS 4-YEAR CONTRACT.
SYNCOR SIGNS DEAL WITH AMERINET TO BE ITS SOLE SUPPLIER.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters