2001 GHX Press Releases

WESTMINSTER, Colo. and MARLTON, N.J.–June 13, 2001–Virtua Health, the leading provider of healthcare services in southern New Jersey, has recently joined Global Healthcare Exchange, LLC (GHX). GHX was founded more than a year ago to create an open Internet-based exchange to reduce waste and streamline the healthcare industry's purchasing processes. Virtua currently contracts directly with manufacturers of healthcare products and services instead of through a brokering agency. Virtua also operates its own shared services center, distributing supplies to the 33 locations within the Virtua network. By connecting to GHX, Virtua will be able to simplify its trading with numerous suppliers by enabling it to do all its purchasing from one central point. With the help of suppliers, GHX is creating an industry-standard electronic catalog to ensure that hospitals have access to the most accurate and up-to-date information about the products and supplies they purchase. GHX currently has more than 300 hospital members and more than 100 supplier members. "GHX's business model is a strategic fit with Virtua's supply chain requirements and direction. Leveraging the GHX catalog will increase procurement efficiencies and effectiveness for our organization," says Nicholas Toscano, vice president for Strategic Support Services at Virtua Health. "A single link to all our suppliers and trading partners will enable us to lower our transaction costs while improving our overall performance. GHX also supports integration to Virtua's enterprise resource planning (ERP) system, the information system that integrates various departments at Virtua and helps to centralize information and serve their individual needs. Ultimately, this single link between many trading partners and departments will allow Virtua to deliver high value to our customers and patients." "Virtua is known nationally for its innovation and its thought-leading approach to the healthcare supply chain. We are proud to be partnering with them," explains Michael Mahoney, president of Global Healthcare Exchange. "Our relationship with Virtua is further proof that the GHX model delivers value to independent as well as GPO-affiliated health networks. No matter how a health system contracts for and purchases its supplies, the streamlined approach of GHX can make the process more efficient for everyone involved." About Global Healthcare Exchange Global Healthcare Exchange, LLC (GHX) is an Internet-based trading exchange that is building a normalized, verified industry-standard catalog from which hospitals can purchase both medical and non-medical products. Ultimately, GHX's industry-standard catalog and flexible connectivity options will make it easier, faster and less expensive for healthcare organizations to conduct business. Global Healthcare Exchange, LLC (GHX), provides business-to-business procurement solutions for the healthcare industry. Utilizing Internet-based technology, the company seamlessly integrates hospitals and suppliers, thereby improving efficiencies and adding value throughout the supply chain. GHX provides single-source ordering and tracking for both medical and non-medical products. The privately held company was founded in March 2000 and now comprises more than 100 supplier members and 300 hospital members. Equity members of GHX include Johnson & Johnson; GE Medical Systems; Baxter International, Inc.; Abbott Laboratories; Medtronic, Inc.; Becton, Dickinson & Co.; Boston Scientific Corporation; C.R. Bard, Inc.; Guidant Corporation; Siemens Medical Solutions and Tyco International. For more information visit www.ghx.com About Virtua Health Virtua Health, with more than 7,000 employees and 1,600 physicians, is the largest healthcare provider in southern New Jersey. It comprises four hospitals including Virtua Memorial Hospital Burlington County, Mount Holly, and Virtua West Jersey Hospitals in Berlin, Marlton and Voorhees. More than 7,000 babies are born annually at the hospitals in Mount Holly and Voorhees, where comprehensive neonatal intensive care for premature newborns is available. Pediatric primary and specialty care services are offered as part of the Virtua duPont Children's Health Program, an affiliation with the Alfred I. duPont Hospital for Children. With five strategically located emergency centers, it handles more emergencies and pediatric emergencies than any other hospital in South Jersey. Virtua Health also serves the community with comprehensive primary care and emergency services at its outpatient center in Camden; two long-term comprehensive care centers located in Berlin and Mount Holly; two outpatient surgery centers located in Mount Holly and Voorhees; and a home-health care agency. Contacts Cheryl Flury Director of Marketing Global Healthcare Exchange 720.887.7000 Lisa Miller or Jason Rodman BRW LeGrand (for GHX) 303-298-8470 lmiller@brwlegrand.com Kathy Eichlin Director of Public Relations Virtua Health (609) 261-7015
Posted on Wednesday, June 13, 2001 Posted by host
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