Penn Medicine Inks $135 Million Contract with Siemens

The University of Pennsylvania Health System (Penn Medicine, Philadelphia) has signed a seven-year, $135 million contract for Integrated Service Management with Malvern, Pa.-based Siemens Healthcare.

Under the terms of the deal, Siemens says it will service and ensure around-the-clock availability of diagnostic systems and biomedical devices in Penn Medicine’s hospitals. Siemens will also provide consulting services on workflow optimization and offer training for service engineers and operating personnel. According to the company, the new contract represents an extension of the preceding eight-year service agreement.

Penn Medicine is a $3.5 billion enterprise consisting of the University of Pennsylvania School of Medicine and the University of Pennsylvania Health System, which includes three hospitals — the Hospital of the University of Pennsylvania, Pennsylvania Hospital and Penn Presbyterian Medical Center.