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FOR IMMEDIATE RELEASE Ref. #NRE2006-18
MONTREAL, September 19, 2006—TECSYS Inc. (TSX: TCS), an industry-leading supply chain management software company, announced today that Life Science Logistics (LSL), a 3rd party logistics provider of high quality, flexible and compliant supply chain solutions focused on the Healthcare industry, has selected TECSYS’ EliteSeries to deliver its value proposition to its healthcare customers and support the Company’s aggressive growth over the next few years.
Recognizing the need in the market for a more nimble and focused approach to the healthcare supply chain, Life Science Logistics targets pharmaceutical and med-device manufacturing companies, providing an appealing alternative to traditional distributors and large third-party logistics companies.
“LSL’s deep expertise and nimble logistics operation are key ingredients in the success of 3rd party logistics providers, particularly in healthcare, commented Peter Brereton President & Co-CEO of TECSYS. Our hosted applications are starting to build-up with more clients interested in the ability to execute without the challenge of managing IT applications and resources.”
With TECSYS’ EliteSeries, the underlying IT infrastructure of Life Science Logistics is a fully redundant remotely hosted ERP application that includes Order Management, Warehouse Management, Transportation Management and Financial Management. The system supports the order to cash model and includes “charge back” and accounts receivables functionality which is critical in today’s healthcare environment. The system is validated according to cGMP (The FDA’s “current Good Manufacturing Processes”) requirements and allows customers to place orders and view inventory in real-time online.
“Hosting the application by TECSYS was key to our strategy, commented Richard Beeny, Co-Founder and Principal of Life Science Logistics. TECSYS’ expertise in distribution and technology allows us to focus on what we do best – supply chain logistics solutions. The uniqueness of TECSYS’ integrated applications freed us from the enormous challenge of having to deal with multiple IT providers, a drawback that we have seen in most of our competitors.”
TECSYS' EliteSeries for healthcare effectively streamlines business processes that cut across the functional areas of business and consolidates fragmented operations, often replacing multiple legacy systems. As a totally integrated solution suite - EliteSeries speeds up the flow of business activity across the enterprise, consolidates information, manages inventory, drives dramatic cost savings, and delivers superior customer service.
Life Science Logistics operates out of a 36,000 square foot facility in Louisville, Kentucky that offers the full range of temperature requirements including frozen (-30c), refrigerated (2c-8c), and controlled ambient (20c-25c.) The facility is fully redundant and cGMP compliant. The company can combine any number of its services with its cGMP compliant distribution capabilities to allow its clients total control over their supply chain with the greatest flexibility.
About Life Science Logistics
Founded in 2006, Life Science Logistics (LSL) provides a full range of standard and custom services scalable to the changing needs of its customers. LSL’s management are seasoned experts in health care supply chain operations, as well as quality, regulatory, and transportation management fields.
Through its cGMP-compliant facility, LSL enables pharmaceutical, medical-device and biotech clients to outsource the warehousing and distribution of frozen, refrigerated, and ambient products as needed to meet their business objectives.
TECSYS is a leading, fast-growing supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include about 800 mid-size and Fortune 1000 corporations in healthcare, giftware, office products, third-party logistics, and general wholesale high-volume distribution markets. TECSYS’ shares are listed on the Toronto Stock Exchange under the ticker symbol TCS.
Solutions and general info: info@tecsys.com
Investor relations: investor@tecsys.com
TECSYS Inc.
(514) 866-0001 or (800) 922-8649
The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management's beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that TECSYS Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of TECSYS Inc., which could cause actual results to differ materially from such statements. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.
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