SAN CARLOS, Calif., Feb 5, 2003 (BUSINESS WIRE) -- Natus Medical Incorporated ("Natus") (Nasdaq:BABY) today announced that MedAssets HSCA, Inc. ("MedAssets"), the largest independent group purchasing organization in the U.S., has awarded a three-year contract to Natus Medical to provide its line of ALGO(R) Newborn Hearing Screening equipment and supplies to MedAssets' customer base of more than 16,000 healthcare providers nationwide. Under the terms of the agreement, MedAssets customers will be able to purchase Natus Medical's ALGO(R) Newborn Hearing Screeners and ALGO disposable screening supplies.
The agreement results from the MedAssets HSCA - Medical Device Manufacturers Association (MDMA) Technology Forum held in November 2002. The MedAssets-hosted event provided the opportunity for MDMA members to showcase their products to dozens of materials managers on MedAssets HSCA's advisory committee and whose organizations are MedAssets HSCA members.

"We value the business relationship that we've formed with Natus," said John Bardis, president of MedAssets. "MedAssets' members recognize and appreciate the powerful synergies that can occur between organizations like MedAssets and Natus."

"Natus is a leader in newborn hearing screening, which is mandated in most states and a standard of care in the U.S.," said Tim Johnson, president and chief executive officer of Natus Medical. "We are delighted to enter into this business relationship with MedAssets HSCA, an organization with exemplary commitment to providing high quality newborn hearing screening to its customers."

"MDMA is pleased that MedAssets has shown an interest in working with smaller, innovative companies like Natus Medical," said Mark B. Leahey, MDMA Executive Director. "The continued communication between MDMA and MedAssets will help ensure that the safest, most cost-effective, cutting-edge medical technology gets into the hands of health care professionals and the patients they serve."

Natus' ALGO systems use exclusive AABR(R) technology that screens the newborn's entire hearing pathway - from the outer ear to the brainstem. The ALGO device uses completely standardized pre-set screening parameters and fully automated pass/refer results. In numerous published peer-reviewed studies, ALGO screeners are shown to be among the most clinically accurate newborn hearing screeners available.

Back to Portfolio News