Neoforma Looking Beyond Physician Market In Owens & Minor Parternship
This article was originally published in The Gray Sheet
Executive Summary
Neoforma.com's partnership with Owens & Minor, announced Oct. 27, brings a strong medical/surgical product line to the medical device e-commerce firm's physician, small clinic and home health provider customer base, while providing the Richmond, Virginia distributor access to a new market.
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Clicks And Bricks Both Needed For Success Of Device B2B E-Commerce
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Neoforma.com, Inc.
Business-to-business e-commerce medical device marketer goes public via $91 mil. initial public offering of 7 mil. shares at $13 each. Completed on Jan. 24, the IPO was priced higher than the $8-10 per share originally anticipated (1"The Gray Sheet" Nov. 1, p. 10). Enabling users to "efficiently" and "cost-effectively" buy and sell new and used medical products online, the Santa Clara-based Internet firm's stock trades on the Nasdaq exchange under the symbol "NEOF." Proceeds from the IPO will be used "primarily for general corporate purposes, including sales and marketing, product development and working capital," the firm says. Underwriters Merrill Lynch, Bear Stearns, Robertson Stephens and William Blair have an overallotment option for approximately 1.1 mil. additional shares