SOURCE: Novation

March 07, 2007 12:53 ET

Novation Signs New Technology Agreement With ev3 Inc.

Agreement Makes Latest Treatment for Brain Aneurysms Available to Hospitals

IRVING, TX -- (MARKET WIRE) -- March 7, 2007 -- Novation, the health care contracting services company of VHA Inc. and the University HealthSystem Consortium (UHC), two national health care alliances, has signed a single-source, new technology agreement with ev3 Inc. for its Onyx® Liquid Embolic System.

The agreement is effective now through February 28, 2010. The agreement was awarded through Novation's new-technology evaluation process, which accelerates the review process so new and improved technologies do not have to wait for a scheduled competitive bid. The process allows VHA and UHC members speedier access to savings on the latest FDA approved medical technology.

The Onyx® Liquid Embolic System is a liquid embolic material that is delivered by neurovascular specialists through micro catheters directly into a vascular defect such as a brain aneurysm or arterio-venous malformations (AVMs), blood vessel networks that abnormally connect arteries to veins that can result in a hemorrhage or rupture in the brain.

Once administered, the liquid transforms into a solid polymer cast, thereby sealing off the vessels in the AVM from the blood flow and reducing the risk of rupture. Onyx is indicated for use in pre-surgical embolization of brain AVMs.

About Novation

Based in Irving, Texas, 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 Health System Consortium (UHC), two national health care alliances. Through its competitive bid process, Novation develops and manages contracts with more than 500 suppliers, both large and small. By combining scale and agility with clinical knowledge and product expertise, Novation offers the most extensive range of innovative 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 and UHC members used Novation's contracts to purchase more than $25 billion in supplies in 2005.

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