SOURCE: MEDRAD, INC.

July 16, 2007 11:30 ET

Premier Awards MEDRAD Two-Year Contract Extension for Vascular Injection Systems

WARRENDALE, PA--(Marketwire - July 16, 2007) - Premier, one of the largest healthcare group purchasing organizations in the United States, has extended its agreement with MEDRAD, INC. to provide vascular injection systems and related disposables used in Computed Tomography (CT), Magnetic Resonance (MR) and Cardiovascular (CV) imaging for two additional years.

The agreement will provide Premier's 1,700 hospital members and more than 46,500 other healthcare sites with continued access through 2011 to the most comprehensive line of vascular injection systems offered by a single manufacturer.

The contract includes MEDRAD's complete portfolio of injection systems, including the Stellant® CT Injection System with DualFlow, the MEDRAD Avanta® Fluid Management Injection System for improved cardiovascular imaging, and Spectris Solaris® EP MR Injection System for advanced MR studies. MEDRAD introduced the first vascular injection systems used in CT, MR and cardiovascular imaging procedures and has 98 percent customer satisfaction ratings in North America for product reliability.

Serving 1,700 hospitals and more than 46,500 other healthcare sites, Premier is the largest healthcare alliance in the United States dedicated to improving patient outcomes while safely reducing the cost of care. Owned by not-for-profit hospitals, Premier operates the nation's largest healthcare purchasing network, the most comprehensive repository of hospital clinical and financial information and one of the largest policy-holder owned, hospital professional liability risk-retention groups in healthcare. Headquartered in San Diego, Premier has offices in Charlotte, N.C. and Washington. For more information, visit www.premierinc.com.

MEDRAD, INC. is a worldwide leading provider of medical devices and services that enable and enhance imaging procedures of the human body. Used in diagnostic imaging, MEDRAD's product offerings include a comprehensive line of vascular injection systems, magnetic resonance (MR) surface coils and patient care products, and equipment services. Total 2006 revenues were $478 million. MEDRAD is a 2003 recipient of the Malcolm Baldrige National Quality Award, the top honor a U.S. company can receive for quality and business excellence. The company's world headquarters is near Pittsburgh, Pennsylvania, in the United States. MEDRAD is an affiliate of Bayer AG. More company information is available at www.medrad.com.

Bayer AG is one of the world's leading, innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the Animal Health, Consumer Care, Diabetes Care, and Pharmaceuticals divisions. The Pharmaceuticals division comprises the following business units: Women's Healthcare, Diagnostic Imaging, Specialized Therapeutics, Hematology/Cardiology, Primary Care, and Oncology. The company's aim is to discover and manufacture products that will improve human and animal health worldwide. The products enhance well-being and quality of life by diagnosing, preventing and treating diseases.

Cautionary statement regarding forward-looking statements.

Certain statements in this press release that are neither reported financial results nor other historical information are forward-looking statements, including but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and MEDRAD's plans and objectives to differ materially from those expressed or implied in the forward-looking statements. MEDRAD, INC. undertakes no obligation to update publicly or revise any of these forward-looking statements, whether to reflect new information or future events or circumstances or otherwise.

Contact Information

  • For additional information contact:
    Greg Guarino
    MEDRAD National Accounts
    412-767-2400 ext. 8050
    Email Contact

    Dan Dieter
    MEDRAD Marketing Services
    724-940-6949
    Email Contact