Abbott Announces Multi-Year Agreement With Consorta
ABBOTT PARK, Ill., August 15 /PRNewswire/ -- Abbott Laboratories (NYSE: ABT - news) today announced the signing of a sole-source, multi-million dollar contract with Consorta, Inc. for Abbott's innovative blood glucose monitoring products in the post acute care market. Abbott's line of MediSense blood glucose monitoring products are leading biosensor-based systems for monitoring blood glucose. The product line includes the Precision PCx, Precision QID and the recently introduced Precision
Xtra.
The contract is for three years, with an option for Consorta to renew at two, one-year intervals, effective September 1, 2000.
``This multi-year agreement with Consorta allows us to provide an innovative blood glucose monitoring product line to the post acute care market,'' said Thomas J. Heller, vice president, national accounts, Abbott Laboratories. ``Abbott will benefit from Consorta's wide network of health care facilities and we look forward to continuing to expand our relationship with Consorta.''
Consorta, based in Rolling Meadows, Ill., is a group purchasing organization that represents more than half of the Catholic hospitals in the United States. Founded in 1998, Consorta has a collective annual purchase volume exceeding $2 billion. The Consorta membership encompasses more than 300 acute care facilities, representing nearly 50,000 beds, and 700 alternate care sites.
``This agreement provides significant cost savings for products heavily utilized in the long-term care and home care marketplace,'' said Kurt Krummel, director of alternate care for Consorta. ``Abbott's product line meets the quality
expectations of our participants and we are confident of their ability to provide service and support for standardization initiatives.''
chris |
