Medical Action Industries Inc. (NASDAQ:MDCI), a leading provider of disposable medical and surgical products, today announced that it has been awarded a 36-month contract with Premier Purchasing Partners, L.P., the group purchasing unit of Premier Inc., for its IV Site Management products. Effective December 1, 2010, this new agreement offers Medical Action a unique opportunity for minor procedure kits and trays and includes a sole source component for Premier’s ASCEND members. ASCEND (Accelerated Supply Chain Endeavor) is designed to help the participating healthcare providers achieve and sustain rapid improvements in supply chain performance. As a market leader in minor procedure kits and trays, Medical Action offers a comprehensive portfolio of kit configurations that assist healthcare providers with maintaining consistency of protocol, implementing clinical practices that create greater efficiencies, and minimizing the risk for hospital acquired conditions such as infections. In addition, Medical Action has an established history of strategic partnerships with industry leading companies so that hospitals and healthcare institutions will have access to cost effective brand components. Medical Action is committed to developing innovative solutions that lead to improved clinical and economic outcomes and enhanced patient care. “We are very excited about this award as it demonstrates how much progress we have made in gaining the trust and confidence of Premier, a valued customer. The fact that we are the recipient of not only a national award but also the sole source ASCEND agreement, underscores our presence as a value added supplier and a market leader in minor procedure kits and trays. We are committed to exceeding customer expectations through the leadership of our newly formed Executive Healthcare Services team and dedicated clinical sales professionals,” stated Paul D. Meringolo, CEO and Chairman of the Board of Medical Action Industries Inc. “The high level of compliance in these facilities will enable us to deliver maximum economic outcomes,” Meringolo added.
About the Premier Healthcare Alliance, Malcolm Baldrige National Quality Award recipientPremier is a performance improvement alliance of more than 2,400 U.S. hospitals and nearly 70,000 other healthcare sites working together to achieve high quality, cost-effective care. Owned by not-for-profit hospitals, Premier maintains the nation's most comprehensive repository of clinical, financial and outcomes information and operates a leading healthcare purchasing network. A world leader in helping deliver measurable improvements in care, Premier works with the Centers for Medicare & Medicaid Services and the United Kingdom's National Health Service North West to improve hospital performance. Headquartered in Charlotte, N.C., Premier also has offices in San Diego, C.A., Philadelphia, P.A. and Washington, D.C. For more information, go to http://www.premierinc.com. Medical Action is a diversified manufacturer and distributor of disposable medical devices and a leader in many of the markets where it competes. Its products are marketed primarily to acute care facilities in domestic and certain international markets. The Company has expanded its target market to include physician, dental and veterinary office, out-patient surgery centers, long-term care facilities and laboratories. Medical Action’s products are marketed nationally by its direct sales personnel and extensive network of healthcare distributors. The Company has preferred vendor agreements with national and regional distributors, as well as sole and multi-source agreements with group purchasing organizations. Medical Action’s common stock trades on the NASDAQ Global Select Market under the symbol MDCI and is included in the Russell 2000 Index. This news release contains forward-looking statements that involve risks and uncertainties regarding Medical Action’s operations and future results. Please see the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s Form 10-K and Form 10-Qs, which identify specific factors that would cause actual results or events to differ materially from those described in the forward-looking statements.