GeriMed of America, a physician practice management company specializing in primary-care services for seniors, is offering financing to hospitals interested in developing one of its MedWise Centers. The company's MedWise Centers are hospital-based primary-care centers staffed and equipped to serve patients 65 and older. The Englewood, Colo.-based company manages 15 MedWise Centers at hospitals in eight states. The financing program, developed in conjunction with Ziegler Leasing Corp., will provide capital for required equipment and leasehold improvements, according to GeriMed. Because leasing provides off-balance-sheet treatment of the capital, hospitals needn't tie up their own cash. Normally, it costs between $350,000 and $500,000 to renovate and outfit space for a MedWise Center, said Ralph Foster, the company's executive vice president.
Kimberly-Clark Professional Health Care, a division of Dallas-based Kimberly-Clark Corp., has won a five-year, sole-source contract valued at $450 million from VHA, an Irving, Texas-based alliance of 1,300 hospitals and providers. The Roswell, Ga.-based division will supply surgical packs, gowns and components, sterilization wrap and infection-control products. Certain VHA hospitals participating in its "best practice" program will be guaranteed specific cost savings. The program evaluates product use per procedure.