Message #2 From:
NewsBot Date: March 28, 2005 02:22:45 PM
ADBYF ADB expands customer agreement with NHS Pathfinder
ADB expands customer agreement with NHS Pathfinder
ADB signs new contract to enable eight hospital trusts to conduct
e-procurement activities
TORONTO, March 17 /CNW/ - ADB Systems International (TSX: ADY; OTCBB:
ADBYF), a global provider of asset lifecycle management solutions, announced
today that it will provide the technology platform for a major electronic
procurement initiative of the National Health Service (NHS), Europe's largest
provider of healthcare services.
ADB's technology will be used to create a collaborative procurement
environment that will electronically connect eight hospital trusts and medical
facilities with their community of suppliers.
As announced previously, the Healthcare Purchasing Consortium (HPC) was
identified as a Pathfinder by the NHS, and given a mandate to develop and
implement a collaborative procurement model that enables hospital trusts to
pool their resources to electronically buy medical consumables, equipment and
services at reduced costs and improved efficiency.
"Since April of 2003, we have steadily expanded our working relationship
with the HPC based on our repeated ability to deliver procurement technology
that meets various performance targets, including the realization of
considerable process savings," said Jeff Lymburner, CEO of ADB Systems
International Inc. "Moving forward with the deployment of the procurement hub
model represents a significant expansion of our efforts with the HPC and the
NHS, and paves the way for working increasingly together with a leading
professional services firm that is actively involved in this initiative."
The procurement hub initiative will be completed in a series of phases.
More than GBP 770 million worth of purchases will be conducted annually
through the collaborative procurement hub using ADB's technology that will
include capabilities for supplier integration, catalog creation and
management, remote requisitioning and purchasing activity management.
About ADB Systems International Ltd.
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ADB Systems International delivers asset lifecycle management solutions
that help organizations source, manage and sell assets for maximum value. ADB
works with a growing number of customers and partners in a variety of sectors
including oil and gas, government, healthcare, manufacturing and financial
services.
Current customers include BP, GE Commercial Equipment Financing,
Halliburton Energy Resources, the National Health Service, permanent TSB,
Talisman Energy, and Vesta Insurance.
Through its wholly owned subsidiary, ADB Systems USA Inc., ADB owns a 50
percent interest in GE Asset Manager, a joint business venture with GE. ADB
has offices in Toronto (Canada), Stavanger (Norway), Tampa (U.S.), Dublin
(Ireland), and London (U.K.). The company's shares trade on both the Toronto
Stock Exchange (TSX: ADY) and the OTC Bulletin Board (OTCBB: ADBYF).
This news release may include comments that do not refer strictly to
historical results or actions and may be deemed to be forward-looking within
the meaning of the Safe Harbor provisions of the U.S. federal securities laws.
These include, among others, statements about expectations of future revenues,
cash flows, and cash requirements. Forward-looking statements are subject to
risks and uncertainties that may cause ADB's ("the Company") results to differ
materially from expectations. These risks include the Company's ability to
raise additional funding, develop its business-to-business sales and
operations, develop appropriate strategic alliances and successful development
and implementation of technology, acceptance of the Company's products and
services, competitive factors, new products and technological changes, and
other such risks as the Company may identify and discuss from time to time,
including those risks disclosed in the Company's Form 20-F filed with the
Securities and Exchange Commission. Accordingly, there is no certainty that
the Company's plans will be achieved.
