Ascension Health's Symphony Initiative Selects SciQuest to Streamline Procurement Processes and Increase Efficiencies

CARY, N.C., Nov. 9, 2010 /PRNewswire/ -- Ascension Health, the nation's largest Catholic and largest non-profit healthcare system, has selected SciQuest, Inc. (Nasdaq: SQI), a leading provider of on-demand strategic procurement and supplier enablement solutions, to help enhance the efficiency of its supply chain processes to lower costs, improve contract compliance and enhance visibility to spend across categories through an eProcurement Marketplace.

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The SciQuest implementation is part of Symphony, an Ascension Health initiative to implement new operational practices in finance, human resources and supply chain – enabled by information technology – that will provide analytic capabilities the health system will use to help inform its operational and clinical decisions.

"Symphony is a significant initiative being undertaken by Ascension Health and its Health Ministries that is critical to the system's future and the achievement of its mission," said Krista Fuller, healthcare market director, SciQuest.  "With SciQuest, Ascension Health will combine technology with industry leading procurement best practices in order to maximize spend visibility, lower costs, and enhance operational efficiencies."

About SciQuest

SciQuest (NASDAQ: SQI) provides a leading on-demand strategic procurement and supplier enablement solution that integrates customers with their suppliers to improve procurement of indirect goods and services.  Our on-demand software enables organizations to realize the benefits of strategic procurement by identifying and establishing contracts with preferred suppliers, driving spend to those contracts and promoting process efficiencies through electronic transactions.  Using our managed SciQuest Supplier Network, our customers do business with more than 30,000 unique suppliers and spend billions of dollars annually.  

Our current target markets are higher education, life sciences, healthcare and state and local governments.  We tailor our solution for each of the vertical markets we serve by offering industry-specific functionality, content and supplier connections.  We serve more than 165 customers operating in 16 countries and offer our solution in five languages and 22 currencies.  

SciQuest is a registered trademark of SciQuest, Inc. Other trademarks contained herein remain the property of their respective owners. 

For more information about SciQuest, please visit www.sciQuest.com or call 888-638-7322 in the U.S. or +44 1794 341182 in Europe.

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the "Risk Factors" section of our Registration Statement on Form S-1 and other required reports, as filed with the SEC, which are available free of charge on the SEC's website at http://www.sec.gov or on our website at www.sciquest.com.  Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements speak only as of the date hereof, and we undertake no obligation to update, amend or clarify any forward-looking statement for any reason.

SOURCE SciQuest, Inc.