Healthcare Industry News: Novation
News Release - October 7, 2010
Hospira Announces New Contracts in Effect with Novation for Infusion Pumps, Solutions and EquipmentLAKE FOREST, Ill., Oct. 7 (Healthcare Sales & Marketing Network) -- Hospira (NYSE:HSP ), a leading global specialty pharmaceutical and medication delivery company, today announced that the new national infusion pump and solutions and equipment agreements with Novation became effective Oct. 1, 2010. Novation is the leading healthcare supply contracting company of VHA Inc. and the University HealthSystem Consortium (UHC) and Provista. The contracts provide the members served by Novation with continued access to Hospira infusion pumps, related sets and disposable devices, along with intravenous (I.V.) solutions, nutritionals and drug delivery products. These awards provide Hospira contract access for the first time to the 300 UHC member hospitals. The new agreements are effective for five years.
"The comprehensive nature of Hospira's portfolio provides flexibility to support the diverse needs of the members served by Novation," said Pete Baker, vice president and general manager, Commercial Service Operations, Hospira. "With many hospitals today focused on ensuring access to patient safety technology -- such as medication management infusion pumps with safety software -- Hospira welcomes the opportunity to continue to work with Novation to improve patient care."
The new agreements include Hospira's general infusion medication management technologies, such as the Plum A+™ with Hospira MedNet™ safety software, a proven and scaleable infusion pump system; the technologically advanced Symbiq™ infusion system with built-in Hospira MedNet and the LifeCare PCA™ pump with Hospira MedNet. These contracts also continue to provide Novation with access to Hospira's I.V. solutions and associated portfolio, including the environmentally preferable VisIV™ container. These contracts expand upon the nearly 30-year relationship between Hospira and the Novation group purchasing organization.
Founded in 1998, Novation is the leading health care supply contracting company for more than 25,000 members of VHA Inc. and the University HealthSystem Consortium (UHC), two national health care alliances, and 5,500 members of Provista, LLC, representing 28,000 sites. Novation provides alliance members contract and price management and spend management services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 600 suppliers. VHA, UHC and Provista members used Novation contracts to purchased nearly $37.8 billion in 2009.
Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness™. As the world leader in specialty generic injectable pharmaceuticals, Hospira offers one of the broadest portfolios of generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management solutions. Through its products, Hospira helps improve the safety, cost and productivity of patient care. The company is headquartered in Lake Forest, Ill., and has approximately 13,500 employees. Learn more at www.hospira.com.
Private Securities Litigation Reform Act of 1995 -- A Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to the agreements with Novation. Hospira cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, legal, technological, regulatory and other factors that may affect Hospira's operations and may cause actual results to be materially different from expectations include the risks, uncertainties and factors discussed under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Hospira's latest Annual Report on Form 10-K and subsequent Forms 10-Q, filed with the Securities and Exchange Commission, which are incorporated by reference. Hospira undertakes no obligation to release publicly any revisions to forward-looking statements as the result of subsequent events or developments.
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