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Novametrix Announces Sole-Source Agreement
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Business New Haven
9/17/2001
By: BNH
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WALLINGFORD - Novametrix Medical Systems Inc. (NASDAQ: NMTX) announced that its Children's Medical Ventures Division (ChMV), which creates developmental-care products for premature and ill newborns, has entered into a three-year sole-source agreement with HealthTrust Purchasing Group (HPG) to provide its neonatal products to more than 500 HPG hospitals in the U.S.
“This agreement strengthens the dominant market position enjoyed by ChMV as the leading provider of specialized care products for the neonatal ICU and related treatment facilities. It is another example of our strategic plan to achieve our ambitious revenue and growth objectives,'' said Novametrix Chairman and CEO William Lacourciere.
With its current membership in excess of 700 facilities, HealthTrust Purchasing Group is one of the nation's leading health-care group purchasing organizations, with a contracting volume totaling $5 billion. HPG's current membership includes Quorum Health Resources (QHR), HCA, Health Management Associates (HMA), Triad, LifePoint, Vanguard, Province, SunLink, Essent, American MedTrust, Alta, Acumen, PresGar Imaging and BHC.
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