Healthcare / Pharmaceutical

Software applications relating to the healthcare supply chain which promote the effective management of supply chain resources.

TECSYS Signs Two U.S. Health Systems in the Fourth Quarter

17-May-2017
Peter Brereton (pictured)
President and CEO, TECSYS
TECSYS Signs Two U.S. Health Systems in the Fourth Quarter
TECSYS Inc. (TSX:TCS), an industry-leading supply chain management software company, is pleased to announce that in the fourth quarter 2017, ending April 30 2017, the Company has signed two U.S. health systems for its Consolidated Service Center solutions (CSC). The Company has also started a pilot project in Europe for its Point of Use solutions. Both solutions are proven to help better manage costs, increase productivity and lead to better clinical outcomes.

"The two U.S. health systems signed during the quarter are among the leading health systems in the U.S. and we are excited to help them offer better quality of care, while adopting supply chain best practices to improve their financial performance," said Mr. Peter Brereton, President and CEO of TECSYS Inc. "While the U.S. health systems market continues to be slow due to changing legislation and somewhat distracted, we are pleased to see some resumption of activity."

The first health system is composed of over 40 hospitals with over 8,200 beds and serves more than five million patients annually. The health system has grown to more than 80,000 employees in nine states: Florida, Illinois, Colorado, Wisconsin, Texas, Georgia, Kentucky, North Carolina and Kansas.

The second health system has locations in Pennsylvania and New Jersey throughout its 12 hospital campuses. Despite reimbursement reductions being experienced throughout the healthcare industry, the organization has served more than three million patients and grown revenue in 2016.

"It is exciting to see that we are attracting a lot of interest from European health systems and they have very similar challenges to the U.S. market. We are still at the beginning of what looks like a very promising market opportunity," added Mr. Brereton.