I-many Expands into Medical Device Market with Its Leading Contract Management Software Suite

I-many, Inc. (NASDAQ:IMNY), a leading provider of contract management software and services for the enterprise, today announced that it will be expanding its contract management software suite to support the medical device market. Built on I-many’s services-oriented architecture and leveraging the I-many Enterprise Contract Management Framework, the I-many Contract Management Suite for Life Sciences™ will specifically address the issues facing medical device companies within the entire contract management continuum.

Many industry-specific and internal drivers compel medical device manufacturers to evaluate enterprise contract management systems. Regulatory pressure on pricing and reimbursement is significant and likely to increase. There are considerable opportunities to optimize revenue through better management of revenue leakage. This positions I-many to help medical device companies realize the same success pharmaceutical companies have seen with our contract management solutions.

“I-many has a compelling vision for the medical device industry,” said John Rade, president and CEO of I-many. “The regulatory environment is becoming more stringent and we expect that medical device companies will have to deal with the same complex contracting and compliance issues that challenge pharmaceutical companies today. We are working with several customers now on their specific needs and requirements to address these issues.”

Rade continues, “Additionally, medical devices companies are telling us that they do not feel well served by the current options available to them today. We see this as an enormous opportunity for I-many to fill a critical need that is going unfulfilled. We believe that companies that work with us will streamline their contract management process and improve their overall performance.”

The aging of baby boomers worldwide, coupled with the rapid pace of product innovation as evidenced by burgeoning product pipelines, is expected to position the medical device industry for annual double-digit growth for years to come. Medical device manufacturers work hard to balance two important but opposing goals: quickly and consistently introducing innovative products while remaining price competitive in a highly cost-sensitive environment. To achieve these goals, medical device companies need to implement a comprehensive contract management solution, not only to remain compliant with heavy and increasing regulatory pressures, but also to realize increasing revenue in a highly competitive industry.

As the industry’s most comprehensive solution, the I-many Contract Management Suite for Life Sciences manages hundreds of billions of dollars in corporate contracts, revenue and pricing agreements for pharmaceutical companies that implement the solution. The I-many Contract Management Suite for Life Sciences directly addresses the challenges faced by life sciences companies as they navigate the complex regulatory environment. With our expertise and knowledge in contract management and deep understanding of the medical devices industry, I-many is well positioned to extend what is currently available for pharmaceutical companies to medical device companies so they can optimize their revenue.

About I-many®

I-many (NASDAQ:IMNY) is the leading provider of contract management software and services for the enterprise. With hundreds of customers across 21 industries worldwide, I-many is enabling businesses to manage the entire contract life cycle, from pre-contract processes and contract management to active compliance and contract optimization. The result is an end-to-end solution that provides greater levels of insight into contract performance, allowing companies to improve profitability and achieve a measurable return on investment. For more information, please visit www.imany.com.

This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include the risk of unforeseen technical or practical impediments to planned software development and other risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission.

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