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Neoforma.com Eyes B2B with Eclipsys Buy

Looking to provide business e-commerce services online to the healthcare industry, Neoforma.com, Inc. Thursday purchased fellow healthcare companies Eclipsys Corp. and HEALTHvision Inc. in a stock deal worth approximately $1.45 billion.

Eclipsys (ECLP), a health care computer service company, will receive 1.344 shares of Neoforma (NEOF) stock, while HEALTHvision, which is affiliated with Eclipsys, will receive 0.444 shares of outstanding Neoforma stock. Completion of the transactions is expected mid-year, subject to regulatory and shareholder approvals.

Neoforma is a medical supply e-commerce company, and with the acquisitions it plans to create a B2B e-healthcare marketplace. Eclipsys provides software, integration tools, application services provider information-management solutions, business process reengineering, network design and implementation; and full IT outsourcing. HEALTHvision brings to the table its Web-based healthcare delivery system, connecting physicians, consumers, patients and the organization's employees.

Also part of its B2B strategy, Neoforma.com signed an exclusive 10-year strategic agreement to provide e-commerce services for the 6,500 healthcare organizations participating in the purchasing programs of Novation, LLC, a leading buyer of medical supplies and the supply company of national healthcare alliances VHA Inc. and University HealthSystems Consortium (UHC).

"We are extremely excited to offer an unparalleled array of new e-commerce services to UHC, VHA and other healthcare customers around the world. From Web-based clinical solutions to innovative supply-chain initiatives, this new company's breadth of offering will be unsurpassed," said Bob Zollars, chairman, president and chief executive officer of Neoforma.com. "In addition, we will combine an ASP model, with net transaction fee revenues, across a highly recurring revenue base."

The purchase of Eclipsys comes less than a month after the company made an unsolicited $2 billion offer for Shared Medical Systems Corp. (SMS). Nothing came of the bid.