Neoforma.com, San Jose, Calif., continued to burn through cash during its first year as a publicly traded company, losing $208.8 million for the year ended Dec. 31, 2000, on revenue of $6.9 million.
However, the online marketplace also reported $68.3 million in gross volume transactions, more than half of which was recorded during a record-high fourth quarter.
Neoforma.com officials said they expect the company to break even in the first quarter of 2002. Also, Robert Baker, president and chief executive officer of University HealthSystem Consortium, and C. Thomas Smith, president and CEO of VHA, were appointed to the company's board, effective immediately.
The hospital alliances invested more than $20 million in Neoforma.com last month during a second round of financing.