12/16/2017 Oracle Powers Medstoxx Marketplace for Healthcare Industry.

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Oracle Powers Medstoxx Marketplace for Healthcare Industry.

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Over $100 Million US Dollars Transacted in Pilot Purchases on Medstoxx

Exchange to Date

REDWOOD SHORES, Calif., Nov. 29 /PRNewswire/ --

(http://www.oracle.com/tellmemore/?494608) Oracle Corporation (Nasdaq: ORCL), the largest provider of software for e-business, today announced that Medstoxx
Pte Ltd. has selected Oracle to power Medstoxx Exchange, an online e-business exchange for the healthcare industry. Powered by Oracle Exchange, Oracle's
complete, integrated and Internet-based exchange technology, Medstoxx Exchange will provide an online exchange for the medical supplies and equipment
industry worldwide. By buying and selling medical supplies through Medstoxx Exchange, healthcare providers, manufacturers and suppliers will be able to gain
market efficiencies while cutting costs, saving time and improving inventory management.

To date, transactions of over $100 million US dollars have been transacted on Medstoxx Exchange in several pilot purchases. The Medstoxx Exchange is expected
to be fully operational in early 2001, and currently more than 500 hospitals in Europe and 250 hospitals in Asia pre-registered.

"Every healthcare system around the world is under enormous pressure to create efficiency and lower costs," said Michael Lim, Chief Executive of Medstoxx Pte
Ltd. "By leveraging Oracle's exchange platform and market expertise, Medstoxx has the potential of dramatically reducing the number of technology systems
needed to procure and purchase products, and providing access to accurate and timely information."

With the Medstoxx Exchange, hospital personnel will be able to use any standard web browser to compare products from different suppliers, check availability,
generate auctions and purchase medical supplies and track orders. Supplies consumed at the point-of-use will automatically be replenished from the supplier
allowing the hospital to reliably monitor stock supplies and inventory.

"By enabling buyers and sellers to transact and share information about supply, demand, and production, Medstoxx eliminates immense inefficiencies from the
supply chain," said Derek Williams, executive vice president, Oracle Corp., Asia Pacific Division. "The selection of Oracle to power Medstoxx Exchange solidifies
Oracle's leadership in powering large, multi-national exchanges that are changing the way companies operate."

About Medstoxx

In addition to the Medstoxx Exchange, Medstoxx also offers other solutions targeting the needs of the healthcare industry. Products to be released soon include
supply and demand aggregation services, supply chain management services, trade facilitation services and hosted application services. Medstoxx, head quartered
in Singapore, is active in Germany, Italy, Malaysia, Indonesia, Singapore and in the Middle East. Medstoxx aims to attain 25% market share of hospitals in
Germany by 2001, as well as expansion into the United Kingdom, France, Spain, Australia and other key countries in the coming months.

About Oracle

Oracle Corporation provides the software that powers the Internet. For more information about Oracle, please call 650-506-7000.

Trademarks

Oracle is a registered trademark of Oracle Corporation. Other names may be trademarks of their respective owners.

COPYRIGHT 2000 PR Newswire Association LLC

No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000 Gale, Cengage Learning. All rights reserved.

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Publication: PR Newswire
Date: Nov 29, 2000
Words: 458
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The Free Library > Business and Industry > Business > PR Newswire > November 29, 2000
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