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Precision Dynamics Corporation: MedAssets Awards Precision Dynamics-TimeMed Combined Contract for Wristband and Label Systems

^{Published on 2009-09-22 13:10:47 - Market Wire}
 

SAN FERNANDO, CA--(Marketwire - September 22, 2009) - Precision Dynamics-TimeMed, the global leader in healthcare identification solutions, announced today that it has been awarded a combined contract for healthcare wristbands and labels by MedAssets, one of the nation's largest group purchasing organizations (GPOs).

MedAssets provides innovative solutions for healthcare providers to improve their margins and cash flow. The organization awards vendor contracts based on extensive criteria including product quality and customer service. The terms of the contract make Precision Dynamics-TimeMed's full product offering immediately available to MedAssets' hospital and IDN GPO customers through December 31, 2012 under Contract MS01059.

After merging in November 2008, Precision Dynamics and TimeMed together offer hospitals the widest combination of wristband and labeling systems that enhance all critical hospital functions, from Admissions to discharge.

"As a partner with MedAssets for 8 years, we are excited to continue our collaboration to help hospitals reduce medical errors through positive identification, while streamlining and simplifying operations," said Gary Hutchinson, President and CEO of Precision Dynamics-TimeMed. "We're proud that our products meet the rigorous requirements of MedAssets to help customers meet patient safety goals and guidelines identified by The Joint Commission, World Healthcare Organization, and FDA, which distinguishes our quality solutions. We look forward to continuing our mutually productive relationship with MedAssets."

For more information about Precision Dynamics-TimeMed wristband and label systems, call 800-772-1122 or visit [ www.pdc-timemed.com ].

About Precision Dynamics-TimeMed... Your Partner in Patient Safety™

Precision Dynamics-TimeMed offers hospitals the widest selection of wristband and labeling systems that enhance all critical department functions, including Admissions, Nursing, Medication & Drug Delivery, Transfusion, Laboratory, Pharmacy, IT, and Surgical Procedures.

Precision Dynamics and TimeMed have more than 100 years of combined experience in developing innovative and reliable products that meet important guidelines of the Joint Commission, World Healthcare Organization, FDA, AHA, and HIPAA. As the developer of the first single-piece patient wristband, the first bar code wristband system, and the first Smart Band® RFID wristband system, Precision Dynamics-TimeMed solutions are an integral part of some of the most successful patient safety initiatives. For more information, visit [ www.pdc-timemed.com ].

About MedAssets

MedAssets (NASDAQ: [ MDAS ]) partners with healthcare providers to improve their financial strength by implementing spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 3,300 hospitals, and 30,000 non-acute care healthcare providers.

Precision Dynamics-TimeMed product names, company names, marks, logos and symbols mentioned herein are trademarks or registered trademarks of Precision Dynamics Corporation. All other product names, company names, marks, logos and symbols mentioned herein are trademarks of their respective owners.