MEDIBUY UPDATES RELATIONSHIP WITH PREMIER AND
HEALTHTRUST PURCHASING GROUP WITH 5-YEAR AGREEMENTS
Signals Completion of Updated HCA Agreement
Nashville, January 8, 2002 -- Medibuy announced today that Premier and HealthTrust Purchasing Group (HPG) have each signed updated 5-year agreements demonstrating their continued endorsement of Medibuy as the exclusive provider of core e-commerce products and services to their hospital members. Terms of the agreements make Medibuy's Internet-delivered product and service solutions available to more than 2,100 hospitals. HCA, the largest investor-owned hospital network in the nation, also signed an updated 5-year agreement with Medibuy. These agreements demonstrate continued partner commitment and set the stage for continuing Medibuy success.
The new agreements ensure that Medibuy's solutions meet the needs of the smallest as well as the largest, most complex healthcare systems in the nation. Richard Norling, Chairman and CEO for Premier states, "Because electronic commerce is key to breakthroughs in healthcare supply chain efficiency, Premier has continued to support innovative alliance approaches even as e-commerce evolves. After considering our best strategies in light of members' needs and the business environment, Premier has chosen Medibuy as our resource partner for the core products fundamental to e-commerce. Factors were Medibuy's success in refining its business model and integrating proven technologies -- strengths we believe provide improved positioning, greater capability to serve our members, and increased flexibility in responding to opportunities and market changes."
Jim Fitzgerald, President and CEO for HPG adds, "The updated agreements build on our relationship with Medibuy as our members, including HCA and Health Management Associates (HMA), are constantly challenged with finding efficiencies in the healthcare supply chain. We look forward to deriving even more value in the future."
Reflecting on the updated relationships, J. Edward (Eddie) Pearson, President and CEO for Medibuy comments, "These updated agreements ensure that our products and services most efficiently meet the current as well as future needs of our partners and their hospital membership. As we begin 2002 with a solid financial foundation and committed partners, we look forward to a successful year focused on executing our business plan and delivering significant value to our growing customer base."
Medibuy's comprehensive supply chain solutions integrate healthcare providers with their trading partners to conduct eBusiness. Their product and service offering adapts commercially proven and scalable technology products from partners such as Commerce One and Quovadx (formerly Healthcare.com) to solve fundamental supply chain problems. The product portfolio (Access™, Reqs™ and Marketplace™) consists of integrated order-processing and automated workflow products that improve accuracy and efficiency of client transactions. Medibuy's Professional Services complement their product portfolio.
Medibuy's comprehensive supply chain solutions integrate healthcare providers with their trading partners to conduct eBusiness. Medibuy's product and service portfolio solves demanding healthcare supply chain problems by adapting commercially proven and scalable technology products using healthcare supply chain and materials management expertise. Medibuy has a growing network of strategic relationships with healthcare and technology leaders to ensure its solutions meet needs of the smallest as well as the largest and most complex healthcare systems in the nation, including Premier Inc., HealthTrust Purchasing Group, HCA, Commerce One and Quovadx. For more information on Medibuy or to contact the company, please visit the company's Web site at www.medibuy.com.