NEWS RELEASE

Name Change, Record Sales and New Market Highlight Extraordinary Year for Provista

Company is Second Largest GPO in Education Market

IRVING, TX; May 16, 2008 — Provista, LLC, a group purchasing and business solutions organization serving more than 12,000 health care and higher education organizations today announced its 2007 year-end results. Provista, owned by VHA Inc. and the University HealthSystem Consortium (UHC), two national health care alliances, grew its contract purchases to more than $3.4 billion. In addition, membership increased more than 19 percent and was primarily driven by increased participation in non acute members. In 2007, Provista entered the education market and has grown its annualized volume to more than $80 million, making it the second largest higher education group purchasing organization (GPO).

"We're very pleased with last year’s performance," said Eldon Petersen, Provista president. "Our rapid success is evidence of an expanding momentum in our core business as well as our new business initiatives.”

2007 Business Highlights

Officially Launched the Provista Name

In the summer of 2007, Healthcare Purchasing Partners International became Provista, LLC. The name change reflects the expansion of the company’s portfolio and service offerings into the education market.

Education Market Entrance

VHA and UHC diversified their growth strategy in 2007 when Provista entered the education market. The new market entry provides additional contracting volume for Novation, Provista's contracting services company, primarily in the areas of food, facilities and medical supplies used in campus clinics and/or sports medicine. In 2007, several major universities signed contracts with Provista including: Duke University; University of Texas; University of Oklahoma, Baylor; Oklahoma State and Georgia Southern University.

Virginia Hospital and Healthcare Association Partnership

Captured an exclusive agreement with the Virginia Hospital and Healthcare Association that enhances Virginia hospitals’ and their affiliates’ access to Provista’s industry-leading portfolio, resources and technology solutions, which are focused on lowering overall supply chain costs.

340B Prime Vendor Program/Apexus

Apexus was created as a wholly owned non-profit subsidiary to manage the 340B Prime Vendor Program. The 340B Prime Vendor Program (PVP) is managed by Apexus through a contract awarded by Health Resources and Services Administration (HRSA), the federal government branch responsible for administering the 340B Drug Pricing Program. HRSA's Office of Pharmacy Affairs (OPA) manages the 340B Drug Pricing Program. In 2007, Apexus saved PVP participants more than $15 million.

###

About Novation
Founded in 1998, Irving, Texas-based, Novation is the leading health care contracting services company, delivering unmatched savings and value to nearly 2,500 members of VHA Inc. and the University HealthSystem Consortium (UHC), two national health care alliances and nearly 12,000 members of Provista, LLC. Through its competitive contracting process, Novation develops and manages contracts with more than 500 suppliers. Novation offers the most extensive range of advanced contracting services, including: contract development, contract and supplier management, custom contracting, enhanced savings programs, online contract management and analytical tools, order management and online supplier connectivity. VHA, UHC and Provista members used Novation contracts to purchase more than $33.1 billion in 2007.

< Back

Print This Page