Healthcare Industry News: Cook
News Release - May 1, 2007
OTN and Oncology Molecular Imaging Enter Into Exclusive Strategic Alliance Agreement to Offer Diagnostic Imaging and Radiation Therapy Services to Community-Based OncologistsSOUTH SAN FRANCISCO, Calif. and JUPITER, Fla., May 1 (HSMN NewsFeed) -- OTN, a leading physician services company and one of the largest distributors of products and services to the community physician market, and Oncology Molecular Imaging, LLC (OMI), an oncology-focused ancillary services company, today announced that they have entered into an exclusive strategic alliance agreement. Under the terms of the agreement, OTN will provide its customers with information and access to OMI's radiation therapy and diagnostic imaging services. OTN also has made an undisclosed investment in OMI's business.
"In the current reimbursement climate, community-based oncology practices are seeking opportunities to diversify to become more efficient. By offering diagnostic imaging in their offices, practices can expand their service offering and provide point-of-care convenience and continuity of care for patients," said Gena Cook, vice president of sales and marketing for OTN. "By forming this alliance with OMI, we are expanding our commitment to provide results-oriented solutions to our community-based oncology practices and providing our customers with another value-added opportunity to help them enhance quality and thrive in the-ever changing healthcare environment."
Oncology practices considering diagnostic imaging services, such as positron emission tomography (PET) and PET/CT, require in-depth understanding of regulatory and legislative issues, considerable resources and a commitment to handle a variety of issues. OMI offers a comprehensive solution that includes feasibility analysis, equipment selection, financing and capitalization of equipment, installation, maintenance, licensure and certifications, and ongoing education to physicians and staff on clinical integration and treatment guidelines. The clinical integration of diagnostic imaging services with cancer treatment results in improved quality of care due to optimal scheduling of tests and faster turn-around time on results.
"The physicians at Utah Cancer Specialists have been very pleased with our relationship with OMI. The leadership and staff of OMI have been wonderful to work with as to the day-to-day operations and in providing the information that we need to make this a successful partnership," said W. Graydon Harker, M.D., an oncologist at Utah Cancer Specialists. "Because we did not have PET/CT readily available to us previously, there has been a steep learning curve for all of us as to the appropriate use of PET/CT in the staging and follow-up of patients with cancer. OMI has been a rich resource for us in this process and we greatly value our relationship."
"We entered into this agreement with OTN because it is the leading physician services company in the marketplace and shares our goal of helping practices provide quality patient care," said Nagesh Kamarsu, vice president of corporate development for OMI. "Increasingly, oncology practices across the United States are looking to enhance their clinical offerings and expand revenue opportunities through diagnostic imaging services and radiation therapy. We offer oncology practices a straightforward service agreement without the hassles of long-term capital debt, staffing, operational management and risk of technology obsolescence."
OTN, a One Equity Partners portfolio company, is a leading physician services company that provides a broad set of customized solutions, including technology, pharmaceuticals, supportive care products and medical/surgical supplies, to physicians who practice in the community-based treatment setting. Through its innovative Lynx(TM) Technologies, practice management tools and unsurpassed customer service, OTN helps physicians remain independent and improve practice efficiency while enabling them to focus on providing optimal patient care. Through ivpcare, OTN's specialty pharmacy, OTN provides physicians and their patients with efficient delivery of medications to treat cancer, as well as rheumatoid arthritis, infertility and other chronic conditions requiring the latest intravenous, injectable and oral medicines. OTN's affiliated group purchasing organization (GPO), Onmark, offers its members competitive contracts for oncology drugs and medical/surgical supplies, practice management tools and educational programs. For more information, please visit www.myOTN.com.
About Oncology Molecular Imaging, LLC
Oncology Molecular Imaging, LLC, is an oncology-focused ancillary services company that provides positron emission tomography (PET) and PET/CT diagnostic imaging services to oncology practices. This enables physicians to offer enhanced services to cancer patients at the point of care. OMI was founded in 2005 and is headquartered in Jupiter, Fla.
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