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News

Source Atlantic and JPC announce agreement

Rockland, MA, June 28, 2002

Source Atlantic announced today the signing of an agreement with Joint Purchasing Corporation (JPC), an innovative health services organization. The agreement offers Source Atlantic’s web-based Capital Management Platform, Hourglass and partnership services to JPC participants.

With Hourglass, JPC customers can aggregate their project capital needs with their year-to-year requirements to standardize and optimize the capital budget process. In addition to Hourglass, Source Atlantic offers partnership services including assessment, inventory, forecasting, equipment planning, aggregation, procurement, and asset management.

We are pleased and excited to offer Hourglass to JPC's client base. With the addition of Hourglass, participating hospitals and IDNs will now have the tools they need to accurately budget, forecast and aggregate capital equipment procurement needs with a cost effective on-line solution,” said CEO William McGowan.

"Source Atlantic's products are a welcomed addition to JPC's contract portfolio," said John E. Morkavich, JPC's Director of Contract Operations. "The company's comprehensive line of Web based capital planning, procurement and logistics products will help our customers function efficiently and effectively in today's cost conscious environment."

About JPC

JPC is an innovative, non-profit, health services organization headquartered in New York that helps healthcare providers strengthen their bottom line by assisting in the implementation of cost control and resource management strategies. JPC began in 1922 as a shared services arm for hospitals, synagogues and social services organizations, primarily in the New York metropolitan area. To learn more about JPC, please visit www.jpc.org.

About Source Atlantic

Source Atlantic combines high technology and partnership services to be the leader in capital planning, procurement, and logistics for the healthcare industry. With the introduction of Hourglass, Source Atlantic offers a window into the entire capital lifecycle. For information on Source Atlantic’s Hourglass Platform or Partnership Services, visit them at www.sourceatlantic.com or contact Steve Sperrazza, Vice President, Sales at (781) 871.8500.