NEWS RELEASE
Novation Launches First Academic Medical Center Portfolio in the Industry
Portfolio Supports Specialized Needs of AMCs
IRVING, TX; March 10, 2009 Academic Medical Centers (AMCs) spend more than $4 billion on supplies per year. Novation, the leading health care contracting services company of VHA Inc., University HealthSystem Consortium (UHC) and Provista, LLC, announced today the launch of its new Academic Medical Center portfolio to meet the specialized needs of these prestigious, not-for-profit health care organizations. AMCs are responsible for training and practice of medical students, residents and fellows. The portfolio offers a comprehensive package of products and services tailored to meet the distinct purchasing patterns and tremendous financial burdens of AMCs served by Novation. Novation’s comprehensive new AMCs portfolio is the first of its kind in the industry and offers a large range of products.
“AMCs provide specialized care for patients with the most challenging disease states and require immediate access to innovative technology, specialty pharmaceuticals and a vast array of patient care products,” said Maryann Restino, vice president at Novation. “Novation is well positioned to offer these medical centers a comprehensive spectrum of products at the price they need. We are looking forward to helping these organizations succeed.”
The portfolio can be accessed by health care organizations that have:
- an allopathic or osteopathic medical school
- one or more programs or schools for health professions (such as allied health, dentistry, graduate studies, nursing, public health, or veterinary medicine)
- one or more owned or affiliated teaching hospitals, health systems or other organized health care services
- a documented affiliation agreement with a medical school accredited by the Liaison Committee on Medical Education (LCME)
“Academic medical centers are the nation's preeminent providers of healthcare and continually demonstrate their leadership in quality, safety and cost-effectiveness,” said Jake Groenewold, vice president, supply chain at the University HealthSystem Consortium. “This new program is yet another demonstration of Novation's innovation and its commitment to deliver the greatest value to our members--essential in an increasingly challenging healthcare environment.”
With more than 2.6 million admissions per year, Academic Medical Centers play a distinct role in the United States by improving the health and health care of their communities and of the larger society in which they reside. Their social missions—teaching, research, provision of rare and high-technology services, continuous innovation in patient care and care of the indigent—are significant contributors to public welfare, and are likely to grow more important in the foreseeable future.
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About Novation
Founded in 1998, Novation is the leading health care supply contracting company for more than 25,000 members of VHA Inc. and the University HealthSystem Consortium (UHC), two national health care alliances, and 5,500 members of Provista, LLC, representing 28,000 sites. Novation provides alliance members contract and price management and spend management services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 600 suppliers. VHA, UHC and Provista members used Novation contracts to purchased nearly $37.8 billion in 2009.
About the University HealthSystem Consortium
The University HealthSystem Consortium (UHC), formed in 1984, is an alliance of 103 academic medical centers and 210 affiliated hospitals representing approximately 90% of the nation’s non-profit academic medical centers. UHC offers its members specific programs and services to improve supply chain, operational, clinical, and financial performance. UHC’s comprehensive suite of supply chain services includes contracting, informatics, supply chain performance management, and peer networking and education. Visit “About UHC” at www.uhc.edu for more information.
Media Contact
Kathryn Goldstein
Director, Public Relations
Novation
(972) 581-5529
kgoldste@novationco.com
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