Hologic Inc. (NASDAQ: HOLX), today announced it has been awarded a two-year extension of its contract with HealthTrust Purchasing Group, L.P. (HPG), one of the nation's foremost healthcare group purchasing organizations, to offer mammographic systems (Lorad Division) and low-end general radiography equipment to HPG's extensive network of member healthcare facilities. Under this dual-source agreement, Hologic is one of only two providers that may offer mammography and low-end general radiography equipment to HPG's more than 700 member facilities.
"We are very pleased to extend these agreements with HPG," said Jack W. Cumming, CEO and President of Hologic. "We see HPG's decision to renew these agreements as positive affirmation that our breast imaging systems and general radiography equipment meet the highest standards for quality HPG consistently maintains for all products offered to their member healthcare facilities. We look forward to another mutually beneficial and productive contract period with HPG."
Commenting on the agreements, Pete Kershaw, Vice President and General Manager of Lorad said, "We believe Lorad's innovative breast imaging technologies, including the scatter-reducing HTC™ Grid, are valuable tools to aid physicians in the early detection of breast cancer. The opportunity to further expand the availability of these premier mammography and stereotactic breast biopsy systems to HPG's network of facilities is very exciting to us and we are pleased to continue this valuable collaboration with HPG."
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 innovative mammography and minimally invasive breast biopsy systems.
HealthTrust Purchasing Group is one of the nation's leading healthcare group purchasing organizations with a contracting volume totaling $5 billion. HPG leverages its extensive purchasing power to provide its customers with the highest quality supplies and services at competitive prices. With over 700 facilities, HPG's current membership includes Quorum Health Resources (QHR), HCA, Health Management Associates (HMA), Triad, LifePoint, Vanguard, PresGar Imaging, Province, SunLink, Essent, American MedTrust, Alta, Acumen, and Ardent.
Forward-Looking Information Disclaimer
This News Release contains forward-looking information that involves risks and uncertainties, including statements about Hologic's and HPG's plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding the anticipated benefits from Hologic's alliance with HPG. 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 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, or Marianne E. Ritchie, Manager, Investor Relations, both of Hologic, Inc., +1-781-999-7300
Web site: http://www.hologic.com/