LABSCO Secures Alliance With Siemens Healthcare Diagnostics

LOUISVILLE, Ky., Sept. 16, 2014 /PRNewswire/ -- LABSCO, the leading specialty sales agent of innovative laboratory technologies and products to hospitals, physician office laboratories and alternate healthcare settings is proud to announce that, effective October 1, 2014, it will serve as Siemens Healthcare Diagnostics' exclusive sales distributor in specified hospital market segments and as a semi-exclusive sales distributor in specified POL market segments in the 48 contiguous United States. LABSCO will be responsible for selling, account management, local marketing, and contract presentation / execution for transition contracts and new contracts. 

"We are building a platform that combines national reach with best in class technology, operational excellence, and unmatched technical sales expertise," says Hank Struik, chief executive officer of LABSCO. "Siemens is the perfect business ally for LABSCO and has demonstrated a commitment to excellence through their innovative product portfolio and focus on providing outstanding service to their customers. With this agreement, we substantially broaden our clinical portfolio and take another major step toward fulfilling our value proposition of Delivering Superior Diagnostics for better outcomes."

"Siemens and LABSCO are dedicated to helping customers increase operational efficiencies and finding ways to improve patient care," said Michael Reitermann, chief executive officer, Diagnostics Division, Siemens Healthcare. "Given this shared commitment and LABSCO's proven expertise in reaching the small hospital and physician office laboratory market segments, Siemens is pleased to enter into this alliance to further serve the needs of our customers."

The following product lines in the Siemens clinical laboratory diagnostics, including associated reagents and consumables, will be distributed through LABSCO:

These are truly exciting times in healthcare with challenges driving the need for market leaders to think and act differently to best serve our customers. The new alliance between Siemens and LABSCO can offer solutions to help customers overcome these challenges. This unique alliance will deliver better outcomes for the POL and Hospital markets.

About LABSCO
LABSCO is all about Delivering Superior Diagnostics to provide better outcomes for you and your patients. We focus on the 150 beds and less hospital labs and large POL practices. LABSCO offers a full line of laboratory products and works with their core customers on improving their clinical utility, operational efficiency and financial performance. Our sales force are clinical laboratory experts who can offer unique and innovative solutions. This makes us a perfect business ally for Siemens and Siemens customers in this segment. Learn more at www.LABSCO.com

About Frazier Healthcare
Founded in 1991, Frazier Healthcare is a leading provider of venture and growth buyout capital to emerging healthcare service and biopharma companies. With over $2 billion under management across seven funds, Frazier Healthcare has invested in more than 150 companies across the entire developmental spectrum. From venture investments to leveraged recapitalizations, Frazier Healthcare has established itself among entrepreneurs and seasoned executives as a preferred partner to help create and grow successful healthcare companies.

About Siemens Healthcare
The Siemens Healthcare Sector is one of the world's largest suppliers to the healthcare industry and a trendsetter in medical imaging, laboratory diagnostics, medical information technology and hearing aids. Siemens offers its customers products and solutions for the entire range of patient care from a single source – from prevention and early detection to diagnosis, and on to treatment and aftercare. By optimizing clinical workflows for the most common diseases, Siemens also makes healthcare faster, better and more cost-effective. Siemens Healthcare employs some 52,000 employees worldwide and operates around the world. In fiscal year 2013 (to September 30), the Sector posted revenue of 13.6 billion euros and profit of 2.0 billion euros. For further information please visit: www.siemens.com/healthcare.

SOURCE LABSCO - Laboratory Supply Company