This multiyear VAR Agreement focuses primarily on existing customer segments currently served by VasoHealthcare, a wholly owned subsidiary of Vasomedical, on behalf of GE Healthcare and is effective immediately.
"The VAR Agreement with GE Healthcare IT is another significant step in our diversification strategy, as it immediately places the Company into the rapidly growing business of information technology and service provision. Healthcare information technology and healthcare connectivity are important game changers for the improvement of healthcare quality, increased efficiency and enhanced accuracy, all at reduced costs. They are among the very few industries that are enjoying double-digit annual growth rate," commented Dr. Jun Ma, President and CEO of Vasomedical, Inc. "This new business opportunity will also provide our service business model with recurring revenue for the future," he continued.
"It is a great honor to be selected by GE HCIT, one of the major healthcare IT solutions providers, as a national Radiology PACS value added reseller. Also, it is certainly a reflection of the success with our VasoHealthcare subsidiary, which has been an exclusive United States representative for various GEHC diagnostic imaging products in certain market segments for the last four years. We believe that our strong nationwide reach and deep customer relationships of Vasomedical in the healthcare market will provide us with a tremendous advantage as we enter into this high growth business," Dr. Ma concluded.
"We’re excited to have entered into this comprehensive VAR agreement with Vasomedical," said David Hale, VP & General Manager of GE Healthcare IT for the US. "The VAR channel is an important part of our growth strategy and Vasomedical is ideally positioned to help us grow in specific market segments with our Radiology PACs software solutions."
Vasomedical has committed significant commercial resources, including capital, incremental sales management and leadership personnel, and will start the new business in multiple phases. The initial phase will be the marketing and sales of GE Healthcare IT Radiology PACS software solutions in specific segments and will be followed by implementation and service provisioning upon certification by GE HCIT.
