IRVING, Texas and LAKE FOREST, Ill., Nov. 4 /PRNewswire/ -- Novation, the leading health care contracting services company of VHA Inc., University HealthSystem Consortium (UHC), and Provista, LLC, and PharMEDium Services, LLC, the leading provider of outsourced hospital pharmacy I.V. compounded solutions, today announced an agreement under which PharMEDium will serve as Novation's contractor of outsourced compounded pharmacy preparations for Novation's acute-care facilities.
The agreement applies to the full line of outsourced compounded drug preparations used by Novation, the industry's leading contracting services company, with more than 2,500 members and affiliates of VHA Inc. and the University HealthSystem Consortium (UHC) and more than 12,000 customers of Provista, a multi-industry group purchasing organization. PharMEDium services more than 1,800 hospitals across the United States.
"We are excited to add PharMEDium's outstanding record of quality, customer service, and experience to our organization's contract portfolio on behalf of the members of our alliances," said Ross Day, R.Ph. Novation Portfolio Executive. "PharMEDium is a leader in this business segment and we are excited to partner with PharMEDium in furthering our dedication to delivering the best patient care backed and enhanced by market-leading suppliers."
"Novation's longstanding reputation and leadership are well-known across the industry, and PharMEDium is extremely pleased to be its partner," said David Jonas, PharMEDium's Chairman and Chief Executive Officer. "We are excited to work with an organization that shares our values around quality, safety, service, and leadership," he added.
Founded in 1998, Irving, Texas-based, Novation is the leading health care contracting services company, delivering unmatched savings and value to nearly 2,500 members of VHA Inc. and the University HealthSystem Consortium (UHC), two national health care alliances, and nearly 12,000 members of Provista, LLC. Through its competitive contracting process, Novation develops and manages contracts with more than 500 suppliers. Novation offers the most extensive range of advanced contracting services, including: contract development, contract and supplier management, custom contracting, enhanced savings programs, online contract management and analytical tools, order management, and online supplier connectivity. VHA, UHC, and Provista members used Novation contracts to purchase more than $33.1 billion in 2007.
About PharMEDium Services, LLC
For more than 15 years, PharMEDium is the leading National provider of pharmacy outsourced sterile I.V. compounding services. PharMEDium is the leading nationwide network of state licensed and federally registered compounding centers providing trusted solutions to more than 1,800 hospitals throughout the United States. The company complies with all applicable state laws and FDA regulations, including USP Chapter < 797 >, and DEA requirements.
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