Syncor Extends Purchasing Agreement With Catholic Healthcare West
WOODLAND HILLS, Calif.–(BUSINESS WIRE)–Sept. 26, 2001
Syncor International Corporation (Nasdaq:SCOR) today announced a three-year extension of its current purchasing agreement with Catholic Healthcare West.
Based in San Francisco, Catholic Healthcare West (CHW) is the largest Catholic health care system in the western United States and the largest not-for-profit health care provider in California.
Under this continuing agreement, which is effective through 2004, Syncor will be the sole source provider of radiopharmaceuticals and services to the CHW hospital system. CHW hospitals are ranked among the best in the nation and are consistently awarded for providing high-quality care and clinical excellence.
Long an industry leader on safety issues, CHW was one of the first to adopt practices to comply with the revised CalOSHA Bloodborne Pathogens Standard in 1999. The standard was designed to protect healthcare workers from pathogenic diseases spread via contact with infected blood and body fluids. In 1999, CHW’s policy entitled “Recommended Safer Work Practices to Prevent Blood and Body Fluid Exposures – Invasive Diagnostic Imaging” was adopted by the California Hospital Association and appeared in the guidebook “The California Guide to Preventing Sharps Injuries.”
Over the course of the agreement, Syncor’s SECURE(R) Safety Insert System will be used to safely deliver unit doses of radiopharmaceuticals to all CHW facilities. The SECURE(R) Safety Insert System, developed by Syncor in 1994, is an OSHA-compliant, FDA-registered sharps container.
“Syncor is pleased that Catholic Healthcare West will continue its relationship with us as its provider of time-sensitive radiopharmaceuticals,” said Rod Boone, President and Chief Executive Officer of Syncor Pharmaceutical Services, a division of Syncor. “We are aligned with CHW in our concern for the safety of healthcare workers and look forward to continuing this partnership, assisting them in providing superior health care in the communities we serve.”
About Catholic Healthcare West
Catholic Healthcare West is the largest Catholic health care system based in the western United States with 48 hospitals and five medical practice groups in California, Arizona and Nevada. CHW is sponsored by nine religious orders and works to further the healing ministry of Jesus by delivering compassionate, high-quality, affordable health services; providing direct services to the poor and disenfranchised, and advocating on their behalf; and partnering with others to improve the quality of life in the communities we serve. CHW annually cares for more than 300,000 patients; provides more than $400 million in community benefits and care for the poor; and employs approximately 40,000 people. For more information, please visit our website at www.CHWhealth.org.
Syncor International Corporation is a leading provider of high technology health care services concentrating on nuclear pharmacy services, medical imaging, niche manufacturing and radiotherapy. In the nuclear pharmacy services business, Syncor compounds and dispenses radiopharmaceuticals for diagnostic and therapeutic use by nuclear medicine departments in hospitals and outpatient clinics. Syncor distributes these time-critical pharmaceuticals to more than 7,000 U.S.-based customers through an integrated network of 128 domestic and 19 international nuclear pharmacies. Syncor also offers information management services to nuclear medical imaging clinics and hospitals. Medical imaging services are provided through an integrated network of 65 domestic and 13 international owned or operated facilities (including two catheterization laboratories overseas). Domestic medical imaging operations are conducted by Syncor’s wholly owned subsidiary, Comprehensive Medical Imaging, Inc., and international operations are conducted by Syncor Overseas Ltd. Syncor also owns or operates five domestic and two international production facilities for positron emission tomography (PET) radiopharmaceuticals, and is a party to a series of agreements to make PET technology more accessible to healthcare providers and patients nationwide. Syncor also produces and markets Iodine-125 brachytherapy seeds used to treat prostate cancer. For more information visit www.syncor.com
This news release contains forward-looking statements that involve risks and uncertainties. These statements are based on current expectations; actual results may differ materially. Among the factors that could cause actual results to differ materially from those projected are the following: the effect of general economic and market conditions, supply and demand for the Company’s products, competitor pricing, maintenance of the Company’s current market position, the risk factors reported from time to time in the Company’s SEC reports, and other factors. Given these uncertainties, undue reliance should not be placed on such forward-looking statements.
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