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Omnicell (NASDAQ:OMCL): Closing price $18.73
Omnicell revealed in a regulatory filing that it has won a new general contract through which to supply the Department of Veterans Affairs. The new five-year contract covers the period of March 1, 2013 until February 28, 2018, and contains terms that are practically equivalent to the previous general contract, and includes an option for extending the terms for an additional five years. Omnicell stated that “As a function of the government’s disclosure process, a potential contract value is assigned and published with the award. A potential ten-year value of $291 million has been assigned to the contract, which Omnicell believes was derived by assessing historical purchase volumes and associated service requirements by all United States federal institutions over a historical ten-year period, including the Department of Veterans Affairs, the Department of Defense, and the Bureau of Indian Affairs. The contract does not constitute an obligation of any of these agencies to purchase from Omnicell and is not exclusive. Each hospital that may purchase under the contract would do so based on the decisions of that hospital. For purposes of customer concentration, each hospital is considered an individual customer.” Shares closed down 1.21 percent on Monday at $18.73, and have been traded in a 52-week range of $12.33 to $19.00.
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