AccuMed Signs Sole-Source Agreement With University HealthSystem Consortium
CHICAGO -- AccuMed International, Inc. (Nasdaq: ACMI) today announced the signing of a Sole-Source Supplier Agreement to provide the Company's AcCell(TM) Cytopathology System to members of the University HealthSystem Consortium (UHC), a national member-driven alliance of over 100 university-based health centers and associate hospitals. The one- year renewable agreement allows UHC members to purchase the AcCell Cytopathology System for their laboratories at a discount under a standard contract, according to Peter P. Gombrich, Chairman and CEO of AccuMed.
The addition of the AcCell system to the UHC Group Purchasing Program represents UHC's first move into the evolving role of technology in the cytopathology laboratory. Charles Bartels, Director of Purchasing for UHC, indicated that the decision was made after considerable study of the marketplace. "We have been monitoring the emerging technologies in cytopathology for some time, and we have chosen the AcCell system because it is the only one on the market that addresses the entire screening process. This comprehensive approach can result in reduced operational costs and improved quality, which can translate into the ability for our members to be more competitive in their respective marketplaces," he said.
UHC members include some of the preeminent teaching hospitals and medical centers in the country. These institutions face many challenges in the increasingly cost-competitive healthcare arena, as they carry the cost of a teaching program and must maintain a high level of quality befitting the advancement of the practice of medicine. "The efforts we have put forth to reach an agreement with AccuMed should make it much easier, and more cost effective, for all of our members to take advantage of this cytopathology laboratory application," Bartels said.
Gombrich commented, "We are extremely excited about the prospect of working with UHC and its members. The AcCell system's ability to reduce costs, improve turn-around-time, and enhance quality will support these institutions in their ongoing efforts to further the cause of quality women's healthcare."
The University HealthSystem Consortium (formerly University Hospital Consortium), based in Oak Brook, Illinois, is an alliance of 78 academic health centers and 38 associate members. The UHC Group Purchasing Program is designed to enhance the purchasing value to participants by using the collective power of UHC members to develop favorable national purchase agreements. With actual annual purchasing volume of $2.9 billion, the UHC commands a strong, competitive position in bidding for essential products, services, and pharmaceuticals at substantial cost savings.
AccuMed International, Inc., headquartered in Chicago, is a global advanced diagnostics and information solutions company. AccuMed is an emerging leader in integrated, technology-driven systems that accommodate the clinical laboratory's need to maintain quality while achieving more cost-
effective operation. The company manufactures and markets a full line of proprietary, FDA-cleared bacterial microbiology disposable tests and instruments and integrated automated cytopathology systems.
/CONTACT: Dana Winrow, M.D., Investor Information of AccuMed
International, 312-397-7455, fax, 312-642-3492, or e-mail, ir@accumed.com; or Philip Thomas of P.L. Thomas Group, Inc., 312-906-8060/
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