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St. Croix Systems Closes 2009 with Second Consecutive Record Year Growth

St. Croix Systems, an innovative provider of Enterprise Asset Management (EAM) solutions, today announced details supporting its profitability and second consecutive record year of revenue growth, customer acquisition and retention. The company also reports 2009 revenue and bookings up 43 and 76 percent, respectively. Closing out 2009 with 31 new customer wins and upgrades, completion of 22 implementations, maintenance and support renewals of 95 percent, and an unparalleled commitment to customer service, St. Croix Systems also launched a client support portal to provide its customers the ability to access a self-help knowledge bank, and propose and track enhancements.

The key to our success remains as true today as it did when we started the company: collaborate with healthcare providers to develop the types of comprehensive enterprise asset management solutions that offer the operational cost savings and opportunities for capital preservation needed for organizational growth, said Hank Goddard, CEO, St. Croix Systems. As we remain focused on what matters - developing leading edge solutions that are easy-to-use and highly effective and providing superior customer service and support - we are confident that will can sustain and continue to support our market leader position. Our customer acquisition and competitive product displacement speaks volumes to the value our solutions bring to leading healthcare providers throughout the country.

Leading US Hospitals Standardize on St. Croix Systems: Many Replace Existing Competitive Solutions

To its impressive client list, in 2009 St. Croix Systems added Children’s Hospital Boston, Mount Auburn Hospital, New York-Presbyterian Hospital, Norton Healthcare, Inc., Novant Health, Riverside Health System, SUNY Upstate Medical University Hospital, Tucson Medical Center among others. These institutions range from a single 500-bed medical facility to an expansive IDN with 19 hospitals and over 30,000 beds. With a focus on providing the highest possible level of patient care and safety, these facilities have realized that managing the lifecycles of their assets allows them to reduce costs, manage shrinking budgets, while improving patient care and staff satisfaction.

Reductions in operational expenses and capital spending are key requirements made more challenging by the current economic environment and changes in the political landscape. At the same time these reductions cannot compromise care levels. Hospitals have begun to understand the significant operational cost savings and opportunities for capital preservation associated with well-constructed EAM program.

Goddard notes, Tens of billions of dollars are spent annually on purchasing and maintaining assets. By increasing asset utilization, including maximizing the return on assets at the end of their lifecycle, purchasing only essential assets, and efficiently managing asset logistics and maintenance, healthcare facilities can easily drive bottom line results from deploying EAM solutions.

Robust Suite of Solutions + Superior Customer Service Offers Rapid ROI

St. Croix Systems offers the industry’s only enterprise-class EAM system built for the specific needs of hospitals and the organizations that support them. In a matter of weeks, our customers can easily manage and track clinical, facilities and IT assets from purchasing decisions through usage to disposition.

The enormous benefits and rapid ROI of EAM solutions led many of our new clients to replace poor performing, existing CMMS solutions with our robust and comprehensive 5.0 platform,” said Goddard. “The latest platform offers an integrated suite of .NET applications that can be accessed from anywhere via a web browser. Various departments throughout the organization benefit from the installation - clinical engineering, facilities, central supply and materials management.

St. Croix Systems’s complete suite of solutions includes:

• Asset Enterprise with MyVue: Enterprise-class CMMS and EAM platform with customizable dashboards
• Service Center Manager: Enterprise service dispatch and escalation
• Logistics Manager: Mobile asset location, delivery and utilization tracking
• Safety Manager: Safety alerts and closed-loop incident management
• Asset Investment Recovery (AIR): Automation of asset disposition through internal and external channels
• Insight: Dynamic OLAP reporting and dash-boarding
• Aset Logistics Interface: RFID and Barcode interface

The dramatic increase in maintenance and support renewals is reflective of the company’s world-class client support. As part of its ongoing improvement process, the launch of the client support portal continues to put the power of collaboration, feedback and product enhancement recommendations into the hands of its customers.

About St. Croix Systems

Founded in 1993, St. Croix Systems is a leader in Enterprise Asset Management solutions that allow healthcare providers to manage the lifecycle of capital assets across the enterprise. With active control of the planning, acquisition, tracking, maintenance, safety, and retirement of these assets, customers can improve operation and capital performance, and ensure a safe and quality environment care. Healthcare customers across the country and around the globe have deployed St. Croix Systems’ highly scalable technology. For more information, please visit: http://www.stcroixsystems.com.

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