Global Healthcare Exchange Completes Acquisition of Neoforma
06 März 2006 - 2:00PM
PR Newswire (US)
Merger Creates a Single Organization Designed to Increase Supply
Chain Efficiencies and Reduce Operating Costs for Healthcare
WESTMINSTER, Colo., March 6 /PRNewswire/ -- Global Healthcare
Exchange, LLC (GHX) has completed today the acquisition of
Neoforma, Inc. (NASDAQ:NEOF), having satisfied all of the
conditions outlined in the definitive merger agreement announced in
October, 2005. The merger officially closed on March 6, 2006.
Immediately prior to the merger, both VHA Inc. (VHA) and University
HealthSystem Consortium (UHC), which collectively owned the
majority of Neoforma's outstanding shares, exchanged a portion of
their Neoforma shares for equity positions with GHX. This brings
the number of owners of GHX to 20 and further expands the breadth
and balance of the ownership base, which includes representatives
of the entire healthcare supply chain. GHX will immediately begin
migrating Neoforma customers to the GHX exchange, while ensuring
all customers of both exchanges continue to have access to existing
functionality. The merger adds a significant number of new
customers to GHX, bringing the total participants to approximately
2500 acute care hospitals, 800 non-acute facilities and 200
supplier organizations. The merger is anticipated to drive
opportunities for greater customer value by enhancing existing
services. For example, combining Neoforma Data Management Solutions
with GHX Content Center will create advanced data services expected
to improve business processes, such as procurement and contracting.
Additionally, GHX will continue to provide business intelligence
services through Healthcare Products Information Services (HPIS).
These include market share data, as well as contract management and
sales analysis tools, for healthcare suppliers. Prior to the
merger, both GHX and Neoforma offered similar, yet complementary,
products and services designed to improve efficiencies, accuracy
and collaboration. "By combining the two companies, we will deliver
a comprehensive suite of products and services to a greater
percentage of the healthcare supply chain," says Michael Mahoney,
chief executive officer of GHX. "Eliminating redundant operations
will enable GHX to devote more resources to technology development
and consultation that help our customers improve current business
processes." To meet the needs of its expanded customer base, GHX is
hiring an additional 150 employees, including approximately 80
Neoforma employees who have accepted full-time positions with GHX.
GHX will continue to be headquartered in Westminster, Colo., with
North American operations in Nashville, Tenn., San Jose, Calif.,
Ambler, Pa. and Toronto, Canada. Supply chain management services
from GHX will be open to all participants in the healthcare supply
chain, regardless of size, GPO affiliation or for-profit status.
GHX has also executed a separate outsourcing agreement with VHA,
UHC and Novation, LLC to provide supply chain management products
and services for VHA and UHC hospital members. Novation is the
contracting arm of VHA and UHC. About Global Healthcare Exchange
Global Healthcare Exchange (GHX) provides an open and neutral
electronic trading exchange, as well as complementary products and
services, designed to improve the procurement-to-payment process in
the healthcare supply chain. Service offerings include: * Exchange
services that support trading partner connectivity and provide
electronic transaction sets, order validation and reporting tools *
Content services which utilize the GHX AllSource(R) product content
repository to build the foundation for data synchronization and
advanced content services * Contract services that allow users to
maximize contract utilization * Procurement services that enable
automation of the requisitioning process * Business Intelligence
reports designed to provide strategic decision-making data Through
these services, healthcare providers and suppliers can improve
efficiencies, automate processes and reduce operating expenses.
Equity owners of GHX are Johnson & Johnson Health Care Systems
Inc.; GE Healthcare; Baxter Healthcare Corp.; Medtronic USA, Inc.;
Abbott Exchange, Inc.; Siemens; Becton, Dickinson & Co.; Boston
Scientific Corp.; Tyco Healthcare Group, LP; Guidant Corp.; C.R.
Bard, Inc.; AmerisourceBergen Corp.; Cardinal Health, Inc.; Fisher
Scientific International, Inc.; McKesson Corp.; B Braun Medical
Inc.; Premier, Inc.; HCA; VHA Inc. and University HealthSystem
Consortium. For more information, visit http://www.ghx.com/.
DATASOURCE: Global Healthcare Exchange, LLC CONTACT: Karen Conway,
Industry Communications Director of Global Healthcare Exchange,
+1-719-488-0359, or +1-720-887-7215, or cell, +1-303-564-2147, Web
site: http://www.ghx.com/
Copyright
Neoforma (NASDAQ:NEOF)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Neoforma (NASDAQ:NEOF)
Historical Stock Chart
Von Sep 2023 bis Sep 2024