Three Bridges, N.J. – August 07, 2007 — iContracts, a leading provider of solutions for managing corporate commitments, today announced that American Regent, Inc., a leading provider of high quality injectable products to the healthcare community, has licensed iContracts’s Better Contracting Solutions (BCS) platform and applications, for managing Medicaid Rebates as well as other Federal, State and Supplemental programs including associated AMP calculations. American Regent’s commitment to iContracts’s powerful next generation solutions, available on-demand or behind-the-firewall, will help American Regent dramatically simplify processes, improve security and reporting and deliver unprecedented flexibility to easily add new contract management-centric applications and other capabilities as their needs evolve.
“As a company committed to keeping pace with the growing demand for innovative injectable products, it is imperative that American Regent have in place the right systems to manage critical Medicaid rebate processes,” said Joann Gioia, Senior Manager of Contracts and Chargebacks at American Regent. “After a careful review of other options, it was clear to us that iContracts possessed the skills and understanding of contracting processes across the healthcare supply chain as well as the technology platform and applications necessary to handle the intricate details of contracts and data managed by American Regent.” Gioia continued, “iContracts’s approach to solution delivery, anchored by the iContracts BCS platform, is light years ahead of the competition, delivering new capabilities and virtually unbounded flexibility for American Regent today and well into the future. We expect dramatic improvements in our ability to effectively manage Medicaid rebate processes as well as a wide variety of other programs at all levels of government.”
“iContracts is redefining how manufacturers, group purchasing organizations, wholesalers, distributors, hospitals and other supply chain participants interact with their trading partners,” said Erik Sieverding, president of iContracts. “Companies in this industry have made it clear that they want a choice of powerful, on-demand and behind-the-firewall solutions that are simply better, faster and profoundly more cost effective than existing or promised alternatives – to use and implement. But perhaps more important is the desire of companies like American Regent to partner with a company that is as easy to work with as its products are easy to use. iContracts is that partner as American Regent’s commitment clearly reflects.”
Omar Bey, Chief Technology Officer at iContracts added, “American Regent’s expansive review of solution providers and technology left little doubt that iContracts was the logical partner for this critical project and business process. We are particularly gratified that ease of use and ability to implement and maintain our solutions were among the primary factors influencing American Regent’s decision.”
iContracts Medicaid Payer is available as an “on demand” service or as a behind-the-firewall offering and is built on iContracts’s revolutionary BCS platform featuring a highly evolved data architecture, rich functionality and Simplified Common User Interface (SCUI) enabling users to execute any process after learning just two basic web page formats. This groundbreaking design drastically reduces implementation; training and future upgrade timeframes and costs.
About American Regent, Inc.
American Regent, Inc. is committed to bringing the highest quality injectable products to the healthcare community across the United States and Canada. Their rapidly expanding product line and increased manufacturing capabilities are designed to keep pace with the healthcare community’s growing demands—now and in the future. All American Regent products are manufactured at their innovative, state-of-the-art facility located in Shirley, New York. If American Regent sells it, American Regent manufactures it. American Regent is committed to giving its customers the best possible service.
About iContracts
iContract’s goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is generations ahead of other solutions, powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and backed by the most highly evolved data architecture in the industry – built by technologists with more experience in building contract management solutions for the Life Sciences industry than anyone on the planet! This deep understanding and straightforward approach shows in everything we do. I-Contracts comprehensive suite of solutions manages all aspects of a Life Science company’s chargeback, rebate and Medicaid processes as well as other incentive agreements and Government Pricing compliance at all levels. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com.
This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include: the risk of unforeseen technical or practical impediments to planned software development and other risk factors set forth from time to time by the Company.
CONTACT: iContracts, Inc.
Anne Ambrosio, 908-393-9550
aambrosio@icontracts.com