Hologic Inc. (NASDAQ: HOLX), today announced it has been awarded an exclusive contract with Broadlane Inc, a leader in providing supply chain management services to the healthcare industry, to cover purchase and sale of Lorad mammographic systems. The contract is for a period of two years, with two options to extend the agreement for an additional year, for a potential contract period of four years.
"We are pleased and excited with this agreement with Broadlane", said Jack W. Cumming, CEO and President of Hologic. "Throughout the selection process we have been very impressed with the thoroughness of Broadlane's evaluation team, their commitment to structuring cost-effective agreements, and the passion of their clinical specialists who demanded the highest achievable image quality possible for their patients. We view their selection of our Lorad mammography systems as confirmation of our dedication to excellence in this area and we look forward to a mutually beneficial and productive working relationship."
Hologic's comprehensive line of mammography products include a number of innovative features designed to improve image quality, such as the HTC™ (High Transmission Cellular) Grid, which reduces radiation scatter in two directions, for higher contrast, and the F.A.S.T. (Fully Automatic Self- Adjusting Tilt) Compression Paddle, which assures more uniform compression, for improved imaging and enhanced patient comfort.
"Our selection process used to determine our contract awards is one of the most rigorous in the industry," said Bill Thomas, head of the Capital Equipment and Non-Medical Group of Broadlane's Contracting Services Department. "User groups composed of physicians, technicians, service and administrative personnel all participated in the review and decision process. Providing the best healthcare solutions to our customers at the most affordable prices with full life cycle cost considerations built in provides both the services our customers need and what they have come to expect."
Hologic's of mammography and stereotactic breast biopsy systems are designed and manufactured exclusively from their Lorad facility in Danbury, Connecticut.
"We are very pleased to have Broadlane as a partner in our efforts to facilitate the early detection of breast cancer for all women," said Pete Kershaw, Vice President and General Manager of Lorad. "This agreement will help to place Lorad's breast imaging systems in a broader network of hospitals nationwide, expanding access to high-quality, affordable, and timely mammography services to a wider range of women. We are proud to work with Broadlane in this effort."
Hologic, Inc. is dedicated to developing and delivering proprietary X-ray and ultrasound systems that incorporate direct-to-digital radiographic imaging technology for both women's health and general radiographic applications. Hologic's business divisions include Hologic Osteoporosis Assessment, a provider of premier bone densitometry systems, Hologic Radiographic Systems, encompassing general and digital radiography systems, and the wholly-owned subsidiaries: Direct Radiography Corp., a manufacturer of state-of-the-art proprietary flat panel technology called DirectRay®; Fluoroscan Imaging, a manufacturer of low intensity, real time X-ray imaging devices; and Lorad, specializing in breast imaging and minimally invasive breast biopsy systems.
Through an extensive suite of services, Broadlane delivers comprehensive supply chain management services to the healthcare industry. Those services include group purchasing, procurement strategy consulting, materials management outsourcing, and technology services. Among the companies that focus on improving efficiencies within the healthcare supply chain, only Broadlane offers this full array of services.
Broadlane customers include leading healthcare providers such as Kaiser Permanente, Tenet Healthcare Corporation (NYSE: THC), Kindred Healthcare (OTC Bulletin Board: KIND), Universal Health Services (NYSE: UHS), Continuum Health Partners, Community Health Systems (NYSE: CYH), IASIS Healthcare, Brim Healthcare and others. Broadlane has offices in San Francisco, Oakland, Dallas, Oakland and New York. For more information visit http://www.broadlane.com/.
Forward-Looking Information Disclaimer
This News Release contains forward-looking information that involves risks and uncertainties, including statements about Hologic's and Broadlane's plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding the anticipated benefits from Hologic's alliance with Broadlane. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that could cause actual results to materially differ include, without limitation, Hologic's and Broadlane's limited experience in working together; Hologic's continuing losses and ability to fund those losses as well as other working capital requirements; Hologic's ability to predict accurately the demand for its products and to develop strategies to address its markets successfully; uncertainties inherent in the development of new products and the enhancement of existing products, including technical and regulatory risks, cost overruns and delays; the early stage of market development for digital X-ray products; risks relating to the Company's reliance on a single source of supply for some key components of its products; risks related to ongoing litigation; technical innovations that could render products marketed or under development by Hologic obsolete; competition; and reimbursement policies for the use of Hologic's products. Other factors that could adversely affect Hologic's business and prospects are described in Hologic's filings with the Securities and Exchange Commission. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE: Hologic, Inc.
Contact: Glenn P. Muir, Executive Vice President and CFO, +1-781-999- 7300, or Marianne E. Ritchie Manager, Investor Relations, +1-781-999-7300, both of Hologic, Inc.
Web site: http://www.hologic.com/