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News

Source Atlantic and VHA Northeast announce agreement

Rockland, MA. April 12, 2002

Source Atlantic and VHA Northeast announced today the signing of an agreement between the two companies to offer Source Atlantic’s web based Capital Management Platform, Hourglass and partnership services to the VHA’s Northeast members.

With Hourglass, VHA’s members 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 the membership of the VHA Northeast. With the addition of Hourglass, member 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.

After an in-depth review of the capital planning and procurement industry, VHA Northeast has chosen Source Atlantic as our strategic supplier for these services, based on their outstanding reputation, their leadership position as the company of choice for architects in Massachusetts, Rhode Island, and Connecticut, and their unique Hourglass offering which offers our member hospitals the tools they need to expand efficiently, intelligently and cost effectively,” said Gordon Fontaine, Manager of Business Services.

About VHA Northeast

VHA Northeast is a regional network of 63 community-owned health care organizations and their affiliated physicians. Based in Braintree, Mass., VHA Northeast provides services for VHA health care organizations in Massachusetts, Rhode Island and Connecticut.

VHA Northeast is part of VHA, based in Irving, Texas, with 18 local offices across the U.S., VHA comprises nearly 26 percent of the nation's community hospitals, including many of the nations largest and most respected institutions. VHA offers member organizations access to products and services that will help them improve financial and clinical performance and achieve market success. As a cooperative, VHA distributes income annually to members based on their participation. For more information, please go to www.vha.com.

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 at (781) 871.8500.