NATICK, Mass., April 23 /PRNewswire-FirstCall/ -- Boston Scientific Corporation (NYSE: BSX) today announced that it has been named U.S. Healthcare Supplier of the Year in the GHXcellence Awards for achievements in improving supply chain performance. The award recognizes Boston Scientific's successful use of electronic transactions to improve supply chain efficiency for customers and suppliers.
The annual awards were granted by GHX based on application of the following criteria to an organization's performance during the 2007 calendar year:
-- Increased use of e-commerce solutions throughout the healthcare supply chain -- Number of trading partners with whom they conduct e-commerce -- Percentage of orders transacted electronically -- Percentage of invoices transacted electronically -- Reduction in order and invoice discrepancies and errors
Boston Scientific has implemented numerous e-commerce transaction options, including electronic order placement, electronic invoicing, advance shipping notices and electronic catalogs. Currently, more than 80 percent of the Company's domestic customers employ Electronic Data Interchange (EDI) to facilitate business transactions. EDI is the electronic transfer of structured data in a standard format between businesses, organizations or other groups.
"This award acknowledges our commitment to the use of e-commerce to improve efficiency and reduce costs throughout the supply chain," said Paul LaViolette, Boston Scientific Chief Operating Officer. "Through process and software system improvements, we have been able to expand our electronic offerings and increase transaction efficiency and customer satisfaction."
"This year's GHXcellence Awards honor providers and suppliers that have taken steps to maximize utilization of e-commerce solutions across their organizations," said GHX President Bruce Johnson. "By optimizing business processes and the use of technology, they are demonstrating how healthcare organizations can lower costs and improve operational performance."
The award was presented by GHX on Friday, April 18, 2008 during a recognition ceremony in Chicago at the 8th Annual GHX Supply Chain Summit.
About Boston Scientific
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com/.
GHX enables healthcare providers and suppliers in North America and Europe to reduce costs and improve margins by automating processes, reducing operating expenses and increasing knowledge-based decision making. Products and services include trading partner connectivity, order and contract management and validation, data synchronization, sales force automation and business intelligence. For more information, visit http://www.ghx.com/
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our supply chain management and our growth strategy. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and, future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A- Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file thereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.
CONTACT: Paul Donovan 508-650-8541 (office) 508-667-5165 (mobile) Media Relations Boston Scientific Corporation Larry Neumann 508-650-8696 (office) Investor Relations Boston Scientific Corporation
SOURCE: Boston Scientific Corporation
CONTACT: Paul Donovan, Media Relations, +1-508-650-8541, or mobile,
+1-508-667-5165; Larry Neumann, Investor Relations, +1-508-650-8696,
both of Boston Scientific Corporation