2001 GHX Press Releases

NEW ORLEANS, February 6, 2001 - Global Healthcare Exchange, LLC (GHX) and Ormed Information Systems, Ltd. (Ormed) have agreed to develop a strategic alliance to create one of the largest e-commerce supply management services for patient care products in North America. More than 300 Canadian hospitals will be able to purchase their surgical, medical and non-medical products, and manage inventories by connecting over the Internet through Ormed, a leader in fully integrated Healthcare Information Systems, to GHX, the healthcare exchange most directly integrated with key suppliers. The alliance is designed to save the Canadian healthcare system millions of dollars through improved efficiencies, savings that can be re-directed to improvements in patient care such as hiring more nurses, researching new cures, and funding new state-of-the-art equipment. "Suppliers and healthcare providers alike are looking for ways to be more efficient and reduce procurement costs. Through this alliance, we can now offer them a new way of doing business to accomplish these goals," says GHX's president Mike Mahoney. "This is the perfect marriage," says Chris Sherback, president and chief executive officer of Ormed. "By working together and connecting our hospital clients through Ormed to GHX, we are creating the industry standard for supply chain management." Ormed is offering this service to more than 300 client hospitals, over one quarter of all the hospitals in Canada. Together, these hospitals represent the largest group of healthcare providers participating in e-procurement in the country, currently purchasing more than CAN $1 billion of products annually using Ormed's software. Created exclusively for the healthcare industry, GHX's Internet-based technology provides hospitals with a single on-line catalog from which they can access supplier-verified product information and track orders from start to finish. GHX was formed last year by five of the world's leading suppliers of medical and surgical products and equipment. The combined e-commerce services provided by Ormed and GHX will be available to all suppliers, distributors and healthcare institutions in both Canada and the United States, and other members of the healthcare community including medical clinics, doctors offices, long-term care facilities and group purchasing organizations. The services will help reduce costs by streamlining and speeding up procurement processes, eliminating duplication and errors, improving inventory management, ensuring contract compliance, and facilitating more efficient purchases. About Ormed Since its incorporation in 1989, Ormed Information Systems Ltd. has been a leader in the design, implementation and support of fully integrated Healthcare Information Systems that operate on industry standard microcomputer networks. Over 300 healthcare facilities currently use Ormed's Healthcare Management System to cost-effectively improve the efficiency of their operations. Today, more than 1300 Ormed applications are installed in Canada and the United States. For more information visit www.ormed.com Ormed Information Systems Ltd. currently has entered into a letter of intent with Sparta Water Corp.TM, SWA on CNDX, whereby pursuant to a securities exchange take-over bid, or similar arrangement, the business operations of the companies are to be combined. About Global Healthcare Exchange 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 70 supplier members and more than 160 hospital members. Equity members of GHX include Johnson & Johnson, GE Medical Systems, Baxter International Inc., Abbott Laboratories, Medtronic Inc., Becton, Dickinson and Co., Boston Scientific Corporation, C.R. Bard Inc., Guidant Corporation and Tyco International, Ltd. For more information, visit www.ghx.com Contacts Cheryl Flury Director of Marketing Global Healthcare Exchange 720.887.7000 Bob Brewster Director, Corporate and Marketing Communications Omnicell 800-850-6664, ext. 6452 robd@omnicell.com Lisa Miller or Jason Rodman BRW LeGrand (for GHX) 1860 Blake St., Suite 640 Denver, CO 80202 303.298.8470 lmiller@brwlegrand.com
Posted on Tuesday, February 06, 2001 Posted by host
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