Bio Logic (NASDAQ:BLSC)
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From May 2019 to May 2024
Bio-logic Systems Corp. (Nasdaq:BLSC), a designer and
marketer of computerized medical electrodiagnostic equipment and
disposables, today announced the signing of a three-year agreement
with Premier Purchasing Partners, L.P., the group purchasing division
of Premier, Inc., one of the largest healthcare alliances in the U.S.
Under the agreement, Bio-logic will offer sleep diagnostics equipment,
services and accessories to Premier's affiliated hospital and
healthcare systems.
Commenting on the agreement, Roderick G. Johnson, president and
chief operating officer of Bio-logic, stated, "It is estimated by
Frost & Sullivan, a leading market consulting firm, that approximately
44 million people in the U.S. have a sleep disorder, impacting their
quality of life and at times posing a hazard to their health and the
safety of others, and that 30 million of those affected remain
untested. People of all ages can be affected and most are unaware that
they have a sleep disorder, and many of those who are aware have in
the past chosen not to seek the help they need.
"However, there is a growing awareness of sleep apnea monitoring
on the part of both individuals and clinicians as a result of our
aging and overweight population and studies linking hypertension to
sleep apnea. For the period through 2011, Frost & Sullivan projects
double-digit growth in the sleep service provider market, as well as a
13 percent increase in the number of sleep studies performed annually.
"This agreement, with one of the nation's leading healthcare
alliances, further confirms the leadership position that Bio-logic
products have achieved in the sleep diagnostics arena. With the strong
healthcare interest in sleep apnea monitoring, we are very pleased to
have been chosen by Premier as one of three suppliers on this
important contract," Johnson concluded.
About Bio-logic
Bio-logic Systems Corp., headquartered in Mundelein, IL, designs,
develops, assembles and markets computer-based electrodiagnostic
systems and related disposables for use by hospitals, clinics, school
districts, universities and physicians. The systems conduct tests that
are typically used by medical practitioners to aid in the diagnosis of
certain neurological disorders, brain disorders and tumors and sensory
disorders, including audiological and hearing screening and diagnosis.
About Premier, Inc.
Premier, Inc., a strategic alliance in U.S. healthcare, is owned
by more than 200 of the nation's leading hospital and healthcare
systems. These systems operate, or are affiliated with, nearly 1,500
hospital facilities and hundreds of healthcare sites. Premier provides
an array of resources in support of healthcare services, including
group purchasing, with more than $21 billion in annual sales of
supplies and equipment. Other resources offered by Premier include
insurance programs and performance improvement services of many kinds.
Premier is headquartered in San Diego, CA, with other major facilities
in Chicago, IL and Charlotte, NC. Advocacy and policy offices are
located in Washington, DC. For more information, please visit
www.premierinc.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements (as such term is
defined in Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934), including statements
regarding growth in the sleep service provider market and sleep
studies. Management has attempted to identify these forward-looking
statements by using words such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "could," "should,"
"projects" or similar expressions, but these words are not the
exclusive way of identifying these statements. These forward-looking
statements are based on information currently available to management
and are subject to a number of risks, uncertainties and other factors
that could cause Bio-logic's actual results, performance, prospects or
opportunities to differ materially from those expressed in, or implied
by, these forward-looking statements. These risks, uncertainties and
other factors include general economic and business conditions,
turnover in Bio-logic's sales force, lack of acceptance of new
technology by clinicians and other healthcare professionals, the
results of research and development efforts, technological changes,
competition, potential changes in regulation by the FDA, costs
relating to manufacturing of products, the timing of customer orders,
the ability of certain suppliers to meet requirements and other
factors detailed from time to time in Bio-logic's filings with the
Securities and Exchange Commission.
You should not place undue reliance on any forward-looking
statements. Except as expressly required by the federal securities
laws, Bio-logic undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, changed circumstances or any other reason
after the date of this release.