novation

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Novation

Novation

1. The transfer of a contract from one party to another by mutual consent of the original counterparties and the concurrence of the new party.

2. See: Rollover.

novation

The substitution of one debt with another debt.

novation

The substitution of a new contract, debt, or obligation for an existing one. Usually encountered when a tenant assigns the lease to another,or when a new building owner requires all existing tenants to execute novation agreements.The effect is to extinguish all obligations under the old agreements and replace them with the new obligations.

References in periodicals archive ?
Novations Selection, Development and Communication - Novations Selection, Development and Communication helps build organizational effectiveness and individual performance by providing robust training, consulting and measurement capabilities in the areas of employee selection, development and organizational communications.
Novations Strategic Alliances - Having enabled FORTUNE 1000 companies to save millions of dollars by implementing more effective learning architectures, Strategic Alliances' comprehensive performance solution identifies the gaps between employee knowledge and business objectives and then bridges the chasms with responsive learning tools resulting in improvements in processes, productivity and profits.
Suppliers participating in the Expo have the opportunity to receive greater visibility as an innovator in medical technology, educate expo participants about their product, and enjoy substantive dialog with member clinical experts and Novation contracting staff.
Founded in 1998, Novation is the leading health care supply chain expertise and contracting company for the more than 65,000 members of VHA Inc.
Our first priority is the hospitals we serve," says Maryann Restino, PharmD, Novation Vice President.
An on-line form will be provided where VHA and UHC members can share their comments on technology and/or request that Novation consider bidding or adding technology to its portfolio of agreements, with a link to the Novation bid calendar.
We are thrilled that Diagnostic Products Corporation and Novation have selected Dade Behring for the implementation of this important, new contract.
amp;uot;Our ability to work with Novation will certainly contribute to our domestic growth in the coming year.
It is already a requirement for all pharmaceuticals under the Novation private label, NOVAPLUS, to be bar coded at the unit-of-use level.
Unit-of-use bar coding will improve tracking and management of all supply inventory, which is mission-critical to the success of Marketplace@Novation, our online health care supply chain solution," said John Burks, senior vice president of e-commerce and information services for Novation.
Healthcare Purchasing Partners International LLC is a group purchasing company that markets Novation contracts to more than 4,400 organizations that do not belong to VHA or UHC.
Earlier this year, Kimberly-Clark and Novation announced a separate agreement for disposable blood pressure cuffs.