ATLANTA, Apr 27, 2009 (BUSINESS WIRE) -- MedAssets today recognized its top MedAssets Supply Chain Systems suppliers for leading the way in making healthcare more affordable through competitive contracts and innovative Group Buy solutions.
Every year, MedAssets honors its vendors and suppliers at its Healthcare Business Summit. As one of the leading providers of healthcare supply chain management, MedAssets develops relationships with vendors and suppliers in order to help healthcare providers improve their financial health, allowing them to in turn provide the highest quality of care in their communities. This year, MedAssets recognized more than 200 vendors and suppliers for their efforts to make high-quality goods and services available to healthcare providers at competitive prices.
Receiving the President's Award this year was Vincent Kent, corporate accounts manager, Philips Healthcare. Kent was honored for his ability to deliver value to MedAssets' customers through superior contract value, leading to market share growth. Kent's selection was also based on his interaction with MedAssets leadership and his knowledge, responsiveness and his flexibility and diplomacy when working with MedAssets' customers. Kent and his team have continued to develop winning group buy campaigns that provide outstanding savings to MedAssets' customers and incremental sales for Philips Healthcare, whose quarter over quarter group buys increased by 72 percent.
The Supply Chain Savings Award was given to Philips Healthcare and Equipment Management & Technology Solutions, for total percent savings and total dollars saved, respectively. These two MedAssets partners delivered the highest amount of savings to MedAssets customers in 2008.
Philips Healthcare and Iris Diagnostics were recognized with Group Buy Excellence Awards. Both vendors submitted group buy deals that were considered by MedAssets contracting team members to be "true to the program." These deals represented best life cycle value for customers. Both vendors showed remarkable market share growth and went above and beyond in working with MedAssets customers to secure competitive contracts. Philips Healthcare's 2008 results were underscored with growth in Diagnostic Imaging of 7 percent, and Patient Monitoring growth of 20 percent. Iris Diagnostics Group Buy Quarter produced a 220 percent increase in business versus the same quarter average since contract inception.
Cincinnati Sub-Zero (CSZ) won the Diverse Supplier Award. The vendor was honored for encouraging diversity across the supply chain by supporting customer supplier diversity initiatives. CSZ is a certified diverse supplier and complies with all MedAssets reporting and payment requirements while also demonstrating measurable contract growth of more than 65 percent.
"MedAssets owes much of its success to the many vendors who provide superior cost savings and make our spend management segment so successful," said Mark Miriani, president, MedAssets Supply Chain Systems. "Their dedication to customer service and to delivering superior value to healthcare providers is greatly appreciated by all of us at MedAssets and the healthcare community."
For a complete list of all MedAssets Healthcare Business Summit Supplier Award winners, please visit http://www.medassets.com/NewsEvents/Pages/2008VendorAwards.aspx.
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals and 30,000 non-acute care healthcare providers. For more information, visit www.medassets.com.
Regina Haas, 678-624-7420
Investor Relations Contact:
Robert Borchert, 678-248-8194
Copyright Business Wire 2009