National Healing Corporation Signs Agreement with VHA
BOCA RATON, Fla., - National Healing Corporation (NHC), which accounts for 20 percent of the nation's managed and outsourced wound healing centers, announced today that it has expanded its agreement with VHA Inc., a national health care alliance. As one of the contracted suppliers for wound care management services, NHC will now offer management services and the latest technology and expertise in wound healing to all VHA members across the country.
NHC CEO James E. Patrick made the announcement, saying, "We began our relationship with VHA by working with members in Florida and Alabama four years ago and now look forward to working with VHA members nationwide to bring the latest breakthroughs in treatment to more communities. Wounds that fail to heal are a hidden epidemic as our population ages and people become vulnerable to diabetes, vascular disease and many of the other conditions that lead to chronic wounds."
Based in Irving, Texas, VHA is a national alliance that provides industry-leading supply chain management services and supports the formation of regional and national networks to help members improve their clinical and economic performance. With 18 offices across the U.S., VHA has a track record of proven results in serving more than 2,400 health care organizations nationwide.
"The relationship between VHA and National Healing Corporation has been a very successful one, as a result, NHC has grown from serving two VHA members to approximately 24 in the span of three years," said David Gillan, VHA senior director of business development. "The reasons for this achievement can be traced directly to a shared commitment to providing quality leadership and delivering clinical excellence."
NHC will continue to make its programs available to hospitals outside of the VHA alliance. The privately-held firm manages in excess of $150 million of hospital gross revenues and experienced more than 30 percent growth last year. Recently, Morgan Stanley Venture Partners and BA Venture Partners took a majority stake in the company.
J. Robert Grady, vice president of finance and business development for VHA Southeast, explained the financial advantages of partnering with NHC saying, "On average, a mature NHC wound center has 3,000 to 4,000 patient visits yearly, many of them first time admissions to its client hospitals. This exposure can help increase a hospital's market share and the annual contribution margins for an established wound center program can be significant."
Nearly $7 billion dollars is spent each year on wound care, hyperbaric oxygen therapy and disease management. In 2004, NHC became an official partner of the Wound Healing Research Program at The Ohio State University in Columbus in an agreement that includes clinical trials at NHC centers and sponsorship of international wound healing conferences.
Although NHC will not celebrate the tenth anniversary of its founding until next year, the comprehensive service it provides has made it an industry leader. "NHC wound care facilities integrate seamlessly with a hospital's existing operations," Lee Lawrence, VHA Southeast president, noted. "The company's implementation team handles everything from space planning through staffing, training, reimbursement and compliance. Clinically, NHC wound healing centers and hospitals share a collaboration that allows healthcare providers to concentrate on treating the underlying causes of their patients' illnesses while being updated on wound care outcomes."
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About National Healing Corporation
Founded in 1996 and headquartered in Boca Raton, Fla., NHC provides management services and the latest technology and expertise in wound healing to its client hospitals to establish quality wound healing programs. Morgan Stanley Venture Partners and BA Venture Partners are majority shareholders in the privately held company. Specializing in the treatment of chronic and non-responsive conditions, NHC Wound Healing Centers offer hospital-based outpatient wound care and hyperbaric oxygen therapy as well as diabetes care. Committed to health care compliance and best practice medicine, NHC emphasizes these priorities in its extensive clinical and business training programs. Visit www.nationalhealing.com.
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About National Healing Corporation
Founded in 1996 and headquartered in Boca Raton, Fla., National Healing Corporation
provides management services and the latest technology and expertise in wound healing
to its client hospitals to establish quality wound healing programs. The Joint Commission
has awarded National Healing Disease-Specific Care Certification for Wound Care.
Committed to health care compliance and best practice medicine, National Healing
emphasizes these priorities in its extensive clinical and business training programs.
The privately-held company accounts for 30 percent of all managed and outsourced
wound centers in the United States. For more information, please visit
www.nationalhealing.com.
