HealthStream Agreements with Laerdal Medical Expected to Conclude on December 31, 2018
Current agreements expire on
December 31, 2018; HealthStreamwill continue selling and servicing current resuscitation products through that period.
- No impact on previously stated full-year 2017 financial guidance.
HealthStreamis committed to resuscitation solutions for the long-term - and will, in January 2019, introduce competition and choice with disruptive, lower-cost, guideline-compliant resuscitation programs.
HealthStreamlaunches Awards Program to recognize quality, innovation, and cost containment in resuscitation by hospitals and health systems.
Terms of Agreements through
Laerdal provided notice that, upon the
HealthStream's Joint Marketing and Licensing Agreements with Laerdal for
HeartCode and for RQI, respectively, remain unaltered and continue in
Although sales of the HeartCode and RQI products have been strong over
the past several years, margins on such products are lower than
HealthStream's average margin. During the twelve months ended
The announcement today of the expected conclusion of HealthStream's agreements with Laerdal does not affect HealthStream's previously stated financial guidance for 2017.
Bringing Choice to Customers in
"As we serve thousands of hospitals and health systems on a daily basis, HealthStream's role includes bringing choice and competition to the marketplace on their behalf. We have, for example, already successfully brought a wide selection of training options to customers in other solution areas, including two of the top three leading brands in clinical skills development. We are extending this approach to resuscitation solutions."
To support our long-term commitment to hospitals and providing quality,
innovative resuscitation programs,
"We are committed to making the next 10 years a period of great improvement in the quality of resuscitation," said CEO Frist. "We believe the forces of competition, choice, and disruptive technologies will drive that movement so that quality improvement can become more affordable."
This press release includes certain forward-looking statements
(statements other than solely with respect to historical fact),
including statements regarding expectations for the financial
performance for 2017, statements in relation to anticipated developments
associated with the expiration of HealthStream's existing agreements
with Laerdal regarding the HeartCode and RQI products, and statements
regarding the anticipated introduction of new partners and products
following the expiration of these agreements with Laerdal, that involve
risks and uncertainties regarding
Vice President, Investor Relations
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