Healthcare Industry News: Novation
News Release - June 30, 2008
Luminetx(R) Signs Deal with NovationMEMPHIS, Tenn.--(HSMN NewsFeed)--Luminetx® Corp. announced today it has signed a three-year supplier contract with Novation, one of the health care industry’s leading Group Purchasing Organizations (GPOs).
Novation is the health care contracting services company of VHA Inc., University Health System Consortium (UHC) and Provista, LLC. Through the deal, the company’s 14,500-plus member base will have access to custom Novation group purchasing discounts as they relate to the VeinViewer®, Luminetx’s signature product.
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 are thrilled to have such a significant GPO partner like Novation helping us to make a meaningful impact on the health care landscape,” said Scott Tilton, vice president of strategic accounts at Luminetx.
Through its affiliation with VHA, UHC and Provista, Novation represents:
- $33.1 billion in annual purchases
- 44 percent of the staffed beds in the United States
- 49 percent of the nation’s admissions
- 52 percent of nation’s total surgeries
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.
Founded in 1998, Novation is the leading health care contracting services company for more than 2,500 members of VHA Inc. and the University HealthSystem Consortium (UHC), two national health care alliances, and nearly 12,000 members of Provista, LLC. Novation offers its customers contract development and management, supply chain data and measurement, and industry knowledge and advocacy. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 500 suppliers. VHA, UHC and Provista members used Novation contracts to purchase more than $33.1 billion in 2007. For more information on Novation, visit www.novationco.com.
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