WESTBURY, N.Y.--(BW HealthWire)--May 3, 2001--Vasomedical, Inc. (Nasdaq: VASO) announced today that it has been selected by MAGNET
(Mid-Atlantic Group Network of Shared Services, Inc.), one of the largest shared service organizations in the United States, as its exclusive supplier of external
counterpulsation therapy systems to its network of healthcare providers.
The three-year contract makes EECP(R) systems available to MAGNET's membership of over 12,000 providers.
Operating in over 20 states plus the District of Columbia, MAGNET provides a complete portfolio of medical capital equipment, services, supplies, and medical
commodities to its seven member organizations (AMR, CHA-SSP, HCSC, JPC/CSC, MOHCC, PRIME and SOCHA). Collectively, MAGNET's member
organizations represent over 12,000 healthcare providers, including hospitals, long-term care facilities, physician practices and clinics, and assisted living facilities.
MAGNET also provides marketing support to each of its vendor partners through networking opportunities, customized marketing plans, and over 30 sales staff
representing the member organizations.
"MAGNET prides itself in developing relationships that satisfy the comprehensive purchasing needs of healthcare providers as they evolve," said Steven Duke,
Vice President of MAGNET. "EECP is growing in importance as an element in the management of coronary artery disease, and we think it is a significant
addition to our offerings. Vasomedical's position as the leader in the development and clinical validation of external counterpulsation therapy, as well as its
outstanding reputation for service and support, made the company a natural choice as a provider of EECP systems to our members. We look forward to
working closely with Vasomedical to offer this important therapy to our providers and their patients."
"The geography covered by the MAGNET network represents approximately 25% of the national health care market," said Douglas A. Goldman, VP
Marketing and Business Development for Vasomedical. "This agreement allows us to continue to augment our sales and marketing reach, as we have recently
done through partnerships with another group purchasing organization and CardioDynamics. We look forward to establishing similar such agreements in the
future, and to a long, mutually rewarding relationship with MAGNET." |
