Alsius Corporation Awarded Three-Year GPO Agreement With Novation LLC
"We are pleased that our intravascular temperature management solution waschosen by Novation," said Bill Worthen, president and chief executive officerof Alsius. "This is the sixth contract that we have been awarded by a majorhospital group purchasing organization in the U.S., further validating theadoption and growing industry support for our innovative technology."
Novation is a leading group purchasing organization (GPO) representingover $33.1B in annual U.S. healthcare spending. Included is the UniversityHealthSystem Consortium (UHC), an alliance of 103 academic medical centers and191 of their affiliated hospitals representing approximately 90 percent of thenation's non-profit academic medical centers.
The agreement will be effective on January 1, 2009.
"The agreement with Alsius represents an excellent example of how Novationseeks to ensure that we're meeting the needs of our members by providingemerging technologies that offer the highest quality of care and demonstrateclinical acceptability," said Cathy Denning, Senior Director - SurgicalContracting of Novation.
About Alsius IVTM(TM)
Alsius IVTM consists of the CoolGard 3000(R) and Thermogard XP(R) systemsand a family of single-use catheters, including the Cool Line(R), Icy(R),Fortius(R), Solex(TM) and Quattro(TM) catheters. The catheters are insertedinto a major vein through a patient's neck or groin, and circulate cool orwarm saline in a closed-loop through balloons that surround the catheters.This approach decreases or increases core temperature from the inside of thebody out toward the exterior, allowing for significantly more rapid control ofa patient's core body temperature, with greater efficiency and precision,compared to conventional external temperature management products such ascooling and warming blankets and ice packs.
About Alsius Corporation
Alsius, headquartered in Irvine, Calif., is a medical device company thatdevelops, manufactures and sells proprietary products to precisely controlpatient temperature in hospital critical care settings. Controlling bodytemperature, through cooling and warming, is becoming the standard of care forpatients in select critical conditions and those undergoing a variety ofsurgical procedures. Alsius markets a comprehensive suite of catheter-basedintravascular temperature management products that address the need foreffective, accurate, easy-to-use and cost-effective control of bodytemperature in critical care patients. For more information, visithttp://www.alsius.com.
Founded in 1998, Novation is the leading health care contracting servicescompany for more than 2,500 members of VHA Inc. and the UniversityHealthSystem Consortium (UHC), two national health care alliances and nearly13,000 members of Provista, LLC. Novation offers its customers contractdevelopment and management, supply chain data and measurement, and industryknowledge and advocacy. Based in Irving, Texas, Novation develops and managescompetitive contracts with more than 500 suppliers. VHA, UHC and Provistamembers used Novation contracts to purchase more than $33.1 billion in 2007.For more information on Novation, visit http://www.novationco.com.
This press release may contain statements regarding plans and expectationsfor the future that constitute forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995. All statements otherthan statements of historical fact are forward-looking. Such forward lookingstatements, including prospects for sales under the GPO agreement discussed inthis release, are based upon the current beliefs and expectations of Alsius'management, and are subject to risks and uncertainties which could causeactual results to differ materially from those described in theforward-looking statements. The information set forth herein should be read inlight of such risks. Additional information concerning such risks anduncertainties are contained in Alsius' filings with the Securities andExchange Commission, which can be accessed electronically on the Securitiesand Exchange Commission website at http://www.sec.gov.
SOURCE Alsius Corporation
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