SonoSite Signs Agreement with Novation; Leading Health Care Group Purchasing Organization Adds State-of-Art Hand-Carried Ultraso
August 30 2005 - 6:00AM
Business Wire
SonoSite, Inc. (Nasdaq:SONO), the world leader in hand-carried
ultrasound, today announced it has signed a three-year, dual-source
supply agreement with Novation for portable and vascular access
ultrasound equipment and accessories. Novation is the supply
company of VHA Inc. and the University Health System Consortium
(UHC), two national health care alliances that serve approximately
2,500 health care providers nationwide. "We awarded this agreement
to SonoSite based on member surveys, the recommendation of our
member-based Diagnostic Imaging Capital Equipment task force and a
public competitive bid process," said Cynthia Longueville, Novation
senior product manager. "Novation looks forward to working with
SonoSite to provide VHA and UHC members products that offer the
best combination of quality, service and value." "With the broadest
product line in the hand-carried ultrasound market, SonoSite is
well positioned to serve the diverse needs of VHA and UHC members
and affiliates," said Kevin M. Goodwin, SonoSite president and CEO.
"Novation's customers range from academic medical institutions and
community hospitals to acute care centers and nursing homes. At
eight pounds and under, SonoSite systems reduce the time, risk and
expense of transporting patients to an imaging center by providing
high quality imaging where and when it's needed." SonoSite's newest
product, the MicroMaxx(TM) system, its third generation of
hand-carried ultrasound technology, began shipping in June 2005 and
represents a revolutionary crossover point between hand-carried and
cart-based systems. Weighing in at approximately eight pounds and
with the size and appearance of a laptop computer, the MicroMaxx
system delivers high-resolution image quality at a fraction of the
cost of the larger cart-based systems. Due to its advanced levels
of integration and its Chip Fusion(TM) Technology, SonoSite offers
a 5-year warranty on the MicroMaxx system and most of its
transducers. In addition, the SonoSite product line includes the
TITAN(R) system, the 180PLUS(TM) and iLook(R) systems. SonoSite
hand-carried systems range in weight from 3 to 8 pounds, are
designed to withstand the rigors of highly mobile use, can be
battery operated for hours, and boot up in seconds for immediate
scanning wherever needed. Leadership in Hand-Carried Ultrasound
SonoSite began as a division of ATL Ultrasound and was spun off as
a public company in 1998 to create hand-carried ultrasound devices.
Today the company is one of the fastest growing medical technology
companies in the United States with revenues growing 37% in 2004 to
approximately $116 million. SonoSite is the leader in hand-carried
ultrasound with an installed base of more than 20,000 units and a
60% market share worldwide in the hand-carried ultrasound market.
In a recent independently conducted survey commissioned by
SonoSite, customers gave the company's products an overall
satisfaction rating of 97% based on image quality, ease of use,
durability, reliability and ergonomic transducer design. Since the
first product shipment in 1999, SonoSite ultrasound devices are
increasingly being used in and for procedures where physicians need
inexpensive, non-radiating imaging for diverse applications such as
real time assessment in emergency situations, guiding biopsies and
nerve blocks as well as for full diagnostic examinations. About
SonoSite Headquartered near Seattle, Washington, SonoSite
(www.sonosite.com) is represented by seven subsidiaries and a
global distribution network in over 75 countries. SonoSite's small,
lightweight systems are expanding the use of ultrasound across the
clinical spectrum by cost-effectively bringing high performance
ultrasound to the point of patient care. The company employs
approximately 450 people worldwide. About Novation Based in Irving,
Texas, Novation was established in January 1998 through a
combination of the supply programs of VHA and UHC, two national
health care alliances. Novation serves the purchasing needs of more
than 2,500 members and affiliates of VHA and UHC. These
organizations used Novation contracts to purchase more than $23
billion in supplies in 2004.
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