“Healthcare organizations are facing unique budget and resource allocation pressures in today’s challenging environment. In addition to new and evolving regulations, they are faced with rising costs for care, overhead, products and staff," said Jason Liner, market director, Healthcare, SciQuest. “With SciQuest’s eMarketplace solution, healthcare organizations can direct spending towards pre-negotiated contracts, reducing overall spend and increasing efficiency throughout their supply chain. ”About SciQuestSciQuest (NASDAQ: SQI) provides organizations with a comprehensive suite of on-demand source-to-settle software solutions, driving cost and efficiency savings across the supply chain. By improving supplier management, negotiating more strategic contracts, generating an online marketplace for purchasing goods and services, and streamlining the accounts payable process, SciQuest customers turn spending into a source of savings. With unmatched visibility into spending, combined with the Power of Q — the Company’s unique combination of products and support — SciQuest provides organizations with a strategic approach to procurement, improving bottom-line results. To join the conversation, please visit our blog, The Open Kitchen— http://www.sciquest.com/blog or follow us on Twitter @SciQuest. Cautionary Note Regarding Forward-Looking StatementsAny statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors” section of our Registration Statement on Form S-1 and other required reports, as filed with the SEC, which are available free of charge on the SEC’s website at http://www.sec.gov or on our website at www.sciquest.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements speak only as of the date hereof, and we undertake no obligation to update, amend or clarify any forward-looking statement for any reason.
As the healthcare industry continues to face rising costs and budget restrictions, many organizations are looking for ways to better manage purchasing and supplier relationships. Moffitt Cancer Center turned to SciQuest, Inc., (NASDAQ: SQI) a provider of on-demand source-to-settle solutions, to increase contract compliance and improve spend visibility with the SciQuest Spend Director eMarketplace solution. Moffitt’s mission is to contribute to the prevention and cure of cancer. In addition to providing patient care, the Tampa, Fla.-based cancer center specializes in research and education. Moffitt also boasts the Southeast’s largest blood and marrow transplant program and outpatient treatment programs that record more than 320,500 visits a year. With SciQuest’s eMarketplace, Moffitt can promote items within its contract portfolio across the entire organization, helping increase overall contract compliance and better control of spending. This enables Moffitt to ensure that it is realizing the maximum value from existing contracts with vendors, driving spending towards pre-negotiated prices. SciQuest’s on-demand eProcurement software is specifically designed for the complex procurement needs of hospitals and healthcare organizations. The solution is able to handle large volumes of contract and product data that undergo frequent updates, and also ensures that users select and order the right products for the right procedures. Organizations representing more than 130 hospitals have selected SciQuest’s eMarketplace over the last two years. Customers include ROi (Resource Optimization & Innovation, the supply chain arm of Mercy), which is ranked number two on Gartner’s Healthcare Supply Chain Top 25, as well as 10 other healthcare organizations on the Gartner list. “Our core mission is to provide stellar patient care as we work tirelessly to find a cure for a disease that affects millions every year. With every purchase we make, the SciQuest solution helps drive savings on our spend, all while freeing up our staff so it can focus on improving patient care as we strive toward a cure for cancer,” said John Efthemis, interim director of material management, Moffitt.