Hospira, Inc. (Hospira), a pharmaceutical and medication delivery company, has signed five-year agreement with MedAssets Inc. (MedAssets) on intravenous (I.V.) solutions and gravity I.V. equipment, effective June 1, 2009. Hospira also signed a five-year renewal agreement with MedAssets for infusion devices effective July 1, 2009.

MedAssets shares Hospira’s commitment to improving patient and healthcare safety, as well as finding ways to reduce the high costs of healthcare, said Pete Baker, vice president and general manager, commercial service operations, Hospira. We look forward to continuing our work with MedAssets’ member healthcare institutions to drive these goals.

The agreements, all of which run through June 30, 2014, are multi-source awards. They include Hospira’s general-purpose medication management technologies, such as the Plum A+ device; the next-generation Symbiq infusion system with Hospira MedNet safety software; and pain management pumps, such as the LifeCare PCA device with Hospira MedNet safety software, and GemStar ambulatory devices.

We are pleased to expand our relationship with Hospira, said Mark Miriani, president of MedAssets Supply Chain Systems. Adding Hospira’s full line of I.V. solutions and gravity I.V. equipment to our existing portfolio provides additional options for our members as part of our flexible, customer-driven approach to reducing supply expenses for our members.