SourceOne Healthcare Technologies Announces Improvements In Financial Performance, Enhancements to Internal Operations And Record Number of National Distribution Agreements
CEO Jerry C. Cirino reports the company is poised to serve customers of all types with Best-In-Class Medical Imaging Technology.
Mentor, OH (PRWEB) December 7, 2004 -- Now entering its third year since the
company was merged to form SourceOne Healthcare Technologies (RSNA Booth #1919),
today announced a number of milestones and achievements for 2004, including
improved financial performance, signing a record number of new distribution
agreements and completion of a strategic business plan to fully integrate the
company’s operations, sales organization and approach to serving its 20,000-plus
customers.
SourceOne was formed through the acquisition of Health Care
Products and Diagnostic Imaging (HCP and DI) by Platinum Equity, a global
acquisition firm that specializes in mission-critical companies. The company
continues to operate as a privately held company with sales exceeding $1
billion.
In less than two years, SourceOne has emerged as the market
leader in the distribution of traditional medical imaging supplies, equipment
and service, and the most advanced equipment options for PACS, digital radiology
for women’s health, and an array of specialized and tailored digital solutions
for hospitals of all sizes, specialty clinics, physicians and veterinarians. The
company is the market leader with a market share approaching 50
percent.
“We are very pleased to report that SourceOne Healthcare
Technologies has met all of our management objectives for the past year,
including improving earnings performance, substantially improving free cash flow
and optimizing the efficiency of our operations,” said Jerry C. Cirino,
president and CEO. “At the same time, building on the momentum of our successes
in 2003, during the past year we have signed 11 national distribution agreements
with some of the world’s most respected medical imaging technology companies.”
“We expanded our RIS/PACs offering with our partner Merge eFilm,” said
Cirino. “In the last month, we have signed agreements with Imaging Dynamics
Company (IDC), CompuMed, Barco and PenRad Technologies. We will be announcing
additional unique and mutually beneficial alliances and agreements in the coming
months.”
Cirino reported highlights of the company’s
financial performance in 2004. Based on strong sales, earning improved in 2004,
and free cash flow was significantly increased by 250 percent. “These
substantial financial improvements will enable us to continue our plans to
broaden our product and service offerings with unique and rewarding
relationships with new and existing business partners,” added
Cirino.
Cirino cited a number developments and changes completed in the
past year aimed at improving how the company serves its customers. By optimizing
the operations of the company’s 40 distribution centers and implementing a new
eLogistics program, the company’s fill rate is 98 percent, an achievement that
has virtually eliminated backorders.
To broaden the company’s service
for smaller customers, SourceOne’s reorganized its telemarketing group –
CustomerExpressSM – a team that now responds to more than 3,500 customer orders
per day. The company’s highly- trained Field Service Engineers (FSEs) performed
a record 375,000 service transactions during the past 12
months.
SourceOne continued its focus on broadening its digital imaging
offering. Most recently, the company recently signed a contract with IDC, giving
SourceOne nationwide distribution rights to an innovative, efficient and
affordable line of direct digital radiography (DR) solutions for hospitals and
orthopedic centers.
Expanding on the company’s commitment to women’s
health, SourceOne signed a national distribution agreement with PenRad, to offer
cutting edge Advanced Mammography Information Systems that are designed to
decrease workload, increase efficiency, improve accuracy and provide immediate
turnaround time. This is complemented by the recent signing of a strategic
national distribution agreement with Barco, the global leader in
high-performance medical-imaging display technology. SourceOne now offers
Barco’s full line of medical display technology for X-ray, digital radiography,
PACS, digital mammography, ultrasound and magnetic resonance
imaging.
SourceOne will market and distribute CompuMed’s innovative DICOM
OsteoGram® software that may be added to existing computed radiography (CR) and
digital radiography (DR) systems enabling them to perform radiographic supplies,
medical supplies, imaging equipment, radiologic services, radiologic services,
PACS, RIS/PACS, DR, CR , e-Logistics, healthcare, diagnostic imaging, radiology
equipment, CR systems, DR systems, medical display monitors, mamography,
womens's health, medical film, radiographic supplies, supply chain management,
screening for early detection and treatment of osteoporosis. This breakthrough
second-generation technology will give SourceOne’s customers the ability to use
a simple hand x-ray to precisely determine bone mineral density (BMD) as an
indicator of osteoporosis and future fracture risk. The Automated OsteoGram®
software analysis program instantly produces a BMD report comparable to tests
performed on the expensive, dedicated BMD testing equipment generally found in
hospitals and specialty practices.
“Looking to 2005 and beyond, we will
continue to enhance our offering of digital technology,” said Cirino. “Upcoming
developments will include new distribution agreements, possible acquisitions,
and renewals with many of our long-standing Group Purchasing Organizations
(GPOs). This, combined with a management ethos of constantly challenging
ourselves to better serve customers will be a winning combination by all
measures.”
About SourceOne Healthcare Technologies
Headquartered in
Mentor, Ohio, SourceOne Healthcare Technologies is a leading provider of imaging
equipment, radiographic supplies and services tailored to healthcare facilities
including those transitioning to a digital imaging environment. Its broad
equipment and consumables lines, as well as nationwide manufacturing,
e-Logistics, sales professionals and field service engineers enable customers to
turn to SourceOne as the best-in-class, single source for effective supply chain
and medical imaging management. SourceOne is a privately held company of
Platinum Equity, a global acquisitions firm specializing in the strategic
operation of mission-critical companies. For additional information about
SourceOne, visit www.sourceonehealth.com.
Contact Information:
Todd
Appleman
323-850-7664
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THE APPLEMAN
GROUP
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Source : http://www.prweb.com/releases/2004/12/prweb185748.htm