San Jose, CA December 17, 2002 Healthcare industry solution provider Neoforma is acquiring Revelocity, a developer of Web-based software products that provide supply management capabilities for hospitals and healthcare suppliers.
Revelocity offers products and services to hospitals and their suppliers to streamline procurement processes, manage inventories, track project and patient costs, leverage bar-coding efficiencies in internal distribution, and share replenishment demand information over the Internet. The product mix includes modules that offer Web-based par replenishment and e-requisitioning solutions for hospitals, and consignment and vendor-managed inventory (VMI) products and services for healthcare manufacturers and distributors.
In December 2001, Neoforma and Revelocity had entered into an exclusive agreement to co-sell products and services into Neoforma's customer base.
"The strong interest we've received from our customers encouraged us to deepen our relationship with Revelocity," said Dan Eckert, president and chief operating officer of Neoforma. "With this acquisition, we will be better equipped to respond to our customers' need to improve their supply management performance."
"For Revelocity, becoming part of the leading supply chain solution company in healthcare makes perfect sense for our respective and mutual customers," said Carl Natenstedt, CEO of Revelocity. "We expect that hospitals and suppliers will realize significant operational efficiencies from the integration of our offerings with Neoforma's solutions."
Neoforma will incorporate the Revelocity products and services into its Trading Partner Services, which include products that provide market intelligence and contract administration capabilities to healthcare manufacturers and distributors, hospital master item file verification, cleansing, normalization and maintenance, and e-commerce readiness services.
Neoforma expects to complete the acquisition by year-end 2002. Terms of the agreement were not disclosed.
