Healthcare Industry News: Luminetx
News Release - June 16, 2008
Luminetx Signs Contract with MedAssetsMEMPHIS, Tenn.--(HSMN NewsFeed)--Luminetx® Corp. announced today it has signed a three-year supplier contract with MedAssets Supply Chain Systems, a MedAssets company (NASDAQ: MDAS ). MedAssets Supply Chain Systems is one of the nation’s largest group purchasing organizations providing innovative solutions for healthcare providers to improve their margins and cash flow.
Through the deal, which was signed May 16, 2008, MedAssets’ hospital customers will have access to custom group purchasing discounts as they relate to the VeinViewer®, Luminetx’s signature product.
“Strong GPO partnerships like this are integral to successfully introducing our leading-edge technology to the healthcare marketplace on a quantum scale,” said Scott Tilton, vice president of strategic accounts at Luminetx.
The VeinViewer is a vascular imaging system that allows physicians, nurses and other health care professionals to clearly see accessible vasculature (or lack thereof) in real time. The device uses a combination of near-infrared light and patented technologies to image vascular structures and project their location directly on the surface of the skin. This provides clinicians with a non-invasive adjunct technology for clinical treatments and procedures including, but not limited to: IV insertions, PICC line insertions, routine venipuncture (blood sampling), blood and plasma donations and treatment for varicose and spider veins.
“We knew 2008 would be a significant growth year for our company, and milestones like this contract with MedAssets will play a large role in making that anticipated growth a reality,” said Rodney Schutt, chief operating officer at Luminetx.
Based in Memphis, Tenn., Luminetx Corporation discovers, develops and commercializes medical product and biometric technologies. The company’s premier product, VeinViewer, is now available and in use globally. For more information on Luminetx and VeinViewer, visit www.Luminetx.com.
MedAssets (NASDAQ: MDAS ) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.
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