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Medtronic Inc. Cancels Cardiovascular and Orthopedic Contracts With Novation
Date:2/24/2011

IRVING, Texas, Feb. 24, 2011 /PRNewswire/ -- Novation, the leading health care supply contracting company, announced today that Medtronic Inc. has cancelled five contracts with Novation that cover cardiovascular and orthopedic products.  Novation is owned by VHA Inc. and the University HealthSystem Consortium (UHC), and VHA and UHC members represent $2 billion in annual purchases for Medtronic in these product categories. Novation has been in constant contact with Medtronic and has made every effort to maintain member value in these high cost categories. Medtronic stated in a letter to Novation that the company wanted to manage their business relationships with hospitals locally, rather than through a national GPO contract.

"This move will likely raise costs for member organizations by eliminating the price protection that members benefit from through Novation's national agreements," said Pete Allen, senior vice president of sourcing operations at Novation. "In addition, through our contracts members generate cooperative returns, and have more favorable terms and conditions. The contracts also protect members from pricing confidentiality clauses, eliminate freight fees, and mandate that new technology is added to contracts when the technologies are released."

In response to Medtronic's action, 16 of the leading U.S. not-for-profit hospitals and academic medical centers sent an open letter to the chairman and chief executive officer of Medtronic Inc., stating their 'extreme disappointment' with Medtronic during this time of unprecedented cost pressures. Hospitals in this country are facing more than $155 billion in reduced government reimbursement over the next ten years; placing an unprecedented burden on their existing fragile financial viability.  Dissolution of the Novation contracts will force health care organizations to develop individual agreements with Medtronic in order to obtain discounted pricing and new terms and conditio
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SOURCE Novation
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