Healthcare Industry News: Invatec
News Release - December 7, 2010
CONMED Corporation Awarded Multiple Contracts With HealthTrust Purchasing GroupUTICA, NY--(Healthcare Sales & Marketing Network) - CONMED Corporation (NASDAQ:CNMD ) announced today that HealthTrust Purchasing Group, LP (HealthTrust), a leading healthcare group purchasing organization, recently awarded three separate, multi-year purchasing agreements with two of CONMED's business units, LInvatec and Endoscopic Technologies.
CONMED LInvatec's agreement enables HealthTrust members to purchase CONMED's advanced endoscopic imaging products featuring state-of-the-art True HD™ technology. Products included in this agreement include the IM4000 autoclavable camera and image capture systems.
CONMED reached a separate agreement with HealthTrust for its high-quality line of Enteral Feeding systems that feature the Entake™ family of products. In addition, the parties extended an existing agreement for CONMED Endoscopic Technologies' extensive line of Gastroenterology (GI) products. Key products covered in this agreement include the Beamer™ System CE600, which is a GI specific electrosurgical/argon plasma generator with related accessories, as well as advanced biliary products such as the Gore Viabil® and Flexxus® metal stents.
"HealthTrust is nationally recognized for its membership's strong commitment to purchasing products that consistently deliver enhanced clinical outcomes," said Mr. Joseph J. Corasanti, President and CEO of CONMED. "We are extremely pleased that this large, high-quality group purchasing organization has recognized the unique advantages of our imaging, feeding and GI product offerings."
ABOUT HEALTHTRUST PURCHASING GROUP
HealthTrust Purchasing Group, LP, headquartered in Brentwood, Tenn., is a group purchasing organization that supports nearly 1,400 not-for-profit and for-profit acute care facilities, as well as 10,600 ambulatory surgery centers, physician practices, and alternate care sites. With an annual purchasing volume by its members of more than $17 billion, HealthTrust is committed to obtaining the best price for clinically recommended products, ensuring their timely delivery, and continuously evaluating and improving its services to the patients, physicians and clinicians it serves. The website is www.healthtrustpg.com.
ABOUT CONMED CORPORATION
CONMED is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures and monitoring. The Company's products serve the clinical areas of arthroscopy, gastroenterology, powered surgical instruments, electrosurgery, cardiac monitoring disposables, endosurgery and pulmonology. They are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery, and gastroenterology. Headquartered in Utica, New York, the Company's 3,300 employees distribute its products worldwide from several manufacturing locations. The website is www.conmed.com.
Forward Looking Information
This press release contains forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and relate to the Company's performance on a going-forward basis. The forward-looking statements in this press release involve risks and uncertainties which could cause actual results, performance or trends, to differ materially from those expressed in the forward-looking statements herein or in previous disclosures. The Company believes that all forward-looking statements made by it have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections as expressed in the forward-looking statements will actually occur or prove to be correct. In addition to general industry and economic conditions, factors that could cause actual results to differ materially from those discussed in the forward-looking statements in this press release include, but are not limited to: (i) the failure of any one or more of the assumptions stated above, to prove to be correct; (ii) the risks relating to forward-looking statements discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009; (iii) cyclical purchasing patterns from customers, end-users and dealers; (iv) timely release of new products, and acceptance of such new products by the market; (v) the introduction of new products by competitors and other competitive responses; (vi) the possibility that any new acquisition or other transaction may require the Company to reconsider its financial assumptions and goals/targets; and/or (vii) the Company's ability to devise and execute strategies to respond to market conditions.
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