Neoforma Retains Merrill Lynch & Co. To Explore Strategic Alternatives
SAN JOSE, Calif., Jan. 11 /PRNewswire-FirstCall/ -- Neoforma, Inc. , a leading provider of supply chain management solutions for the healthcare industry, today announced that it has retained Merrill Lynch & Co. as its financial advisor to assist the Company in evaluating strategic alternatives, including a possible sale or merger of the Company, in order to achieve greater stockholder value.
Neoforma anticipates that any transaction will require the consent of VHA Inc. and the University HealthSystem Consortium (UHC), two national healthcare alliances which together own a majority of the Company's outstanding shares. VHA and UHC are the owners of Novation, their supply company and Neoforma's largest customer.
There can be no assurances that any particular alternative will be pursued or that any transaction will occur, or on what terms.
Neoforma is a leading supply chain management solutions provider for the healthcare industry. Through a unique combination of technology, information and services, Neoforma provides innovative solutions to over 1,500 hospitals and suppliers, supporting more than $10 billion in annualized transaction volume. By bringing together contract information and order data, Neoforma's integrated solution set delivers a comprehensive view of an organization's supply chain, driving significant cost savings and better decision-making for both hospitals and suppliers. For more information, point your browser to http://www.neoforma.com/ .
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements related to Neoforma's consideration of strategic alternatives. There are a number of risks that could cause actual results to differ materially from those anticipated by these forward-looking statements. These risks include the risk that no strategic alternative will ultimately be considered. Other risks are described in Neoforma's periodic reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2004. These statements are current as of the date of this release and Neoforma assumes no obligation to update the forward-looking information contained in this news release.
NOTE: Neoforma is a trademark of Neoforma, Inc. Other Neoforma logos, product names and service names are also trademarks of Neoforma, Inc., which may be registered in other countries. Other product and brand names are trademarks of their respective owners.Photo: http://www.newscom.com/cgi-bin/prnh/20030226/NEOFORMALOGOAP Archive: http://photoarchive.ap.org/PRN Photo Desk, firstname.lastname@example.orgNeoforma, Inc.
CONTACT: Rebecca Oles, media, +1-408-468-4363, email@example.com, or Amanda Mogin, investors, +1-408-468-4251, firstname.lastname@example.org, both of Neoforma
Web site: http://www.neoforma.com/