MUNDELEIN, Ill.-- Bio-logic Systems Corp. (Nasdaq: BLSC), a designer and marketer of computerized medical electrodiagnostic equipment, today reported that it has renewed and expanded its contract with Premier Inc., one of the nation's largest healthcare alliances, as a dual-source supplier for neurodiagnostic products to its 1,800 hospital and health system members. Bio-logic's new three-year contract with Premier Inc. includes its epilepsy monitoring, hearing and sleep diagnostic systems in addition to neurodiagnostics products previously under contract.
'This alliance allows us to continue to reach Premier's substantial customer base. We are looking forward to building our partnership with Premier while offering our state-of-the-art electrodiagnostic products to its large membership of hospitals and healthcare systems. This customer base may not have been able to purchase epilepsy, hearing and sleep diagnostic systems from us previously as an outside supplier,' said Roderick Johnson, president and chief operating officer of Bio-logic Systems.
'Having an agreement with one of the healthcare industry's largest centralized buying groups provides entry into an exclusive group of suppliers delivering contracts that offer value to hospitals through cost-competitive products and technologies. We have positioned ourselves to compete for an increasing share of the diagnostic marketplace by developing a full range of products that respond to several key initiatives of managed care, including the emphasis on lower-cost, outpatient services, the drive to maximize staff efficiency, and the optimization of computer hardware utilization,' said Johnson.
The company's contract with Premier covers its electroencephalography (EEG), polysomnography (PSG), evoked potential (EP), otoacoustic (OAE), and automated auditory brainstem response (AABR) systems. The base system used for many of Bio-logic's diagnostic and monitoring devices can be expanded to include additional capabilities -- from portable equipment that can be used in outpatient settings to systems designed for in-hospital, in-patient, intensive care and surgical use -- reducing overall costs for device purchases.
Bio-logic is the market leader in evoked response testing systems for audiology/otolaryngology applications and among the leaders in digital EEG systems for neurology applications and hearing systems for universal newborn hearing screening. Because Bio-logic's products employ a cost-effective modular design providing portability, upgradeability and integrated information management, the company gains a considerable advantage in today's cost-sensitive managed care environment by helping physicians and hospitals seeking cost-effective treatments and ways of eliminating unnecessary procedures and hospitalization.
Bio-logic Systems Corp., headquartered in Mundelein, Ill., designs, develops, assembles and markets computer-based electrodiagnostic systems for use by hospitals, clinics, universities and physicians. The systems conduct tests that are typically used by medical practitioners to aid in the diagnosis of certain brain disorders and tumors, neurological and sensory disorders, and hearing screening.
Premier Inc., is a leading strategic alliance in U. S. healthcare owned by more than 200 of the nation's leading hospital and healthcare systems. Aggregately, these systems operate or are affiliated with more than 1,800 hospital facilities in 50 states and hundreds of other care sites. Premier provides an array of resources supporting health services delivery. Among these resources are comprehensive supply chain management services, including group purchasing for more than $12 billion annually in supplies and equipment, with e-commerce enablement by medibuy.com. Other resources offered by Premier are insurance programs, performance improvement services of many kinds including healthcare informatics, clinical technology services, and physician practice management services. Premier is headquartered in San Diego, CA, with other major facilities in Chicago, IL, and Charlotte, NC. Advocacy and policy offices are located in Washington, DC. For more information, visit www.premierinc.com.
Except for descriptions of historical facts, this release contains forward-looking statements that are subject to risks and uncertainties as detailed from time to time in the company's filings with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated due to a number of factors including fluctuations in sales and operating results; risks associated with international operations; regulatory, competitive, and contractual risks.
SOURCE Bio-Logic Systems Corp.
Bio-Logic Systems Corp. Expands Contract with One of the Nation's Largest Buying Groups
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