(PRWEB) February 8, 2003
FOR IMMEDIATE RELEASE
For Further Information, Contact:
Bret Landrith Corporate Counsel
Medical Supply Chain, Inc.
816.220.4128 Bretl@MedicalSupplyChain.com http://www.MedicalSupplyChain.com
Samuel Lipari President/CEO
Medical Supply Chain, Inc.
KANSAS CITY, Feb. 8th /PRWeb.com/ Â February 10th is the deadline for Minneapolis-based U.S. Bancorp Piper Jaffray (NYSE: USB) to respond to Âpreliminary injunctive reliefÂ filed against it in the 10th District Court of Appeals. This relief is requested to protect Healthcare from multiple anti-trust actions, which were filed against U.S. Bancorp Piper Jaffray last October. These charges were filed in Federal District Court and alleges U.S. Bancorp Piper Jaffray, which is 70% invested in Life Sciences/Healthcare, exercised monopoly power and misappropriated trade secrets in an attempt to prevent Kansas City-based Medical Supply Chain, Inc. (MSCI) from entering the $1.3 Trillion dollar healthcare market.
U.S. Bancorp Piper Jaffray has attempted to prevent market entry of a much-needed efficient reform that will return competition to hospital supply markets. Damages are now estimated at $900 Million and treble damages ($2.7 Billion) are being requested under Antitrust Law. Furthermore, this action is requesting U.S. Bancorp Piper Jaffray be forbidden from any promotion of equity investments in any healthcare related companies participating in anticompetitive behavior as laid out in a recent study by Harvard Law Antitrust expert that exposes anticompetitive effects of GPOs .
Samuel Lipari, President and CEO for the plaintiff Medical Supply Chain, Inc. (MSCI) commented, ÂWe are horrified that U.S. Bank refused to provide us services once they perceived us to be a competitive threat to their Piper Jaffray healthcare investments. As an established U.S. Bank customer we were dependent on their high level banking services to grow our business and we know they provide these services to other healthcare customers. When Piper JaffrayÂs efforts to keep us out of the market failed U.S. Bank attempted to use the USA Patriot Act as a permanent market entry barrier against us. ÂMr. Lipari added, ÂToday one third of the nationÂs hospitals are losing money or are barely breaking even. With few other options available to change this situation, hospitals need our services and solutions more than ever and we intend to find a way to deliver them.Â
About Medical Supply Chain
Medical Supply Chain, Inc. (MSCI) is a Health System service center providing supply chain resources and technology to the health system (hospital) and their trading partners. MSCI supports and complements the work and goals of the supply chain professional in their pursuit to strategically direct supply-chain activities and relationships. When this occurs real supply-chain value will find its way into healthcare and only then will the layers of cost and inefficiencies be removed. MSCI transforms health systems with empowerment to control their own supply chain costs. For additional information visit http://www.MedicalSupplyChain.com