Latest news with #procurement
Bloomberg
7 hours ago
- Business
- Bloomberg
EU to Restrict China's Access to Medical Device Procurements
The European Union will restrict the ability for Chinese medical device manufacturers to access public procurement contracts worth more than €5 million ($5.7 million). The move will restrict Chinese companies from accessing around 60% of the public spending in this field, or around €150 billion, according to an EU official familiar with the plans. The EU will also allow no more than 50% of inputs from China for successful bids.
Globe and Mail
12 hours ago
- Business
- Globe and Mail
Judge points to ‘tainted' process in Toronto's St. Michael's Hospital bidding process at Bondfield trial
The judge presiding over the trial of two men facing criminal fraud charges stemming from the $300-million redevelopment of Toronto's St. Michael's Hospital says the bidding process was 'tainted.' Vas Georgiou, former chief administrative officer of St. Michael's, and John Aquino, the former president of Bondfield Construction Co. Ltd., are each charged with two counts of fraud over $5,000. Both men have pleaded not guilty. 'What the public have lost is the belief that this very expensive procurement would be fair without interference by anybody, and what they have is something that stinks,' Justice Peter Bawden told an Ontario court on Thursday. The Superior Court of Justice case resumed this week after 24 days of testimony last November and December. Since then, Crown prosecutors and defence lawyers submitted written closing arguments amounting to 345 pages, and the hearing on Thursday was designed to allow the judge to address them. Justice Bawden described this week's hearing as 'a bit unorthodox,' but he said it would allow him to tell the court what he thinks about the voluminous written submissions while providing the lawyers with the opportunity to say if he is wrong. The judge is scheduled to deliver his verdict on Oct. 7. Justice Bawden said the public was counting on a fair competition for the hospital redevelopment. Instead, he said, 'the procurement is tainted because of the conduct of the two accused.' Bondfield president given 'insider information,' prosecution alleges in St. Michael's Hospital case The Crown's case against Mr. Georgiou and Mr. Aquino focuses on their alleged undisclosed business connections, as well as their alleged secret communications throughout the bidding process for the lucrative hospital project, which Bondfield won in 2015. These alleged communications took place over a e-mail address and a BlackBerry that Mr. Aquino gave to Mr. Georgiou. The Crown has alleged that Mr. Georgiou used the BlackBerry to leak confidential information about the procurement to Mr. Aquino. Prosecutors allege in their written submissions that the discovery of the electronic devices, set up for the purpose of communicating in secret about the hospital procurement, provide the 'most egregious examples of criminality.' Defence lawyers counter in their submissions that the Crown is overstating the secret nature of the BlackBerry, adding that breaking the rules is not always a criminal act. Justice Bawden said most of his big issues involve Mr. Georgiou, whose defence lawyer, Peter Brauti, fielded a number of questions from the judge. 'I fear that I could see a conviction of your client even if I largely accept his evidence,' Justice Bawden said. 'That makes me very nervous.' Former St. Michael's CEO testifies he was unaware of alleged secret messages between men accused of hospital-bid fraud Mr. Georgiou testified in his own defence last December. The judge noted that Mr. Georgiou's testimony revealed he was strongly motivated to further establish his reputation in the hospital procurement sector and get the St. Michael's expansion and renovation done. Justice Bawden told court that it was almost as though Mr. Georgiou had a conflict from the start: He wanted the procurement to succeed, but he was also a member of a hospital committee set up to impartially evaluate bids from construction companies competing for the project. But, the judge said, the existence of the BlackBerry and e-mail address causes him to see the conflicts in a different light. Had Mr. Aquino not been 'coached' by Mr. Georgiou, he speculated that perhaps the procurement should have failed or proceeded at a higher price. The only surviving content on Mr. Georgiou's e-mail account was communication between him and Mr. Aquino on the May, 2014, long weekend – three days before the deadline for hospital bids. On May 18, Mr. Georgiou advised Mr. Aquino to keep certain costs out of Bondfield's proposed price, explaining that he could 'always fight later when we are No. 1,' says one e-mail. Former St. Michael's Hospital executive promoted co-accused's company before it won project bid, court hears In their submission, Crown prosecutors note that Mr. Georgiou, a busy executive away with his wife for a personal trip in England during the long weekend, answered Mr. Aquino's questions. The fact that Mr. Georgiou brought the BlackBerry with him on a weekend away underscores the intensity of his ties to Mr. Aquino, prosecutors allege in their submission: 'He was ready and expecting to assist.' Alan Gold, Mr. Aquino's lawyer, told the court on Thursday that Bondfield's bid was done by the May long weekend and had nothing to do with anything Mr. Georgiou said in the e-mails. 'Whatever taint your honour sees is totally harmless,' he said. Mr. Brauti told the court Bondfield was the uncrowned winner of the procurement by May, 2014, because the other two rival companies had submitted bids well in excess of the budget. Any rule-breaking, he said, did not result in an unfair outcome. And if the outcome was fair, he said, there was no fraud. At the end of Thursday's hearing, Mr. Gold said the May, 2014 e-mail exchange between Mr. Aquino and Mr. Georgiou did not 'cost victims any money' and, therefore, did not constitute fraud. Special to The Globe and Mail
Yahoo
19 hours ago
- Business
- Yahoo
Labviva Showcases Advanced AI Procurement Tools at the R&D Procurement and Sourcing in Pharma Summit 2025
Global leader in source-to-pay solutions for life sciences to showcase an array of automated procurement technologies Labviva at R&D Procurement & Sourcing in Pharma Summit BOSTON, June 19, 2025 (GLOBE NEWSWIRE) -- Labviva, the leading AI procurement platform for life sciences, today announced its plans to demonstrate how pharmaceutical and biotech companies can leverage AI for laboratory procurement to drive cost and resource efficiencies and accelerate the pace of scientific innovation. The company will showcase its purchasing platform and inventory management solution (IMS) and plans to debut a new AI solution at the R&D Procurement & Sourcing in Pharma Summit, located at the Hilton Boston Logan Airport on June 24-26. Co-presenting panel on 'Modernizing Inventory Management: How Neutral Models Are Enabling Smarter Lab Operations' This panel will focus on lessons learned, change leadership, and value delivered through a vendor-neutral approach to inventory management. It will also highlight: How Takeda modernized its lab supply strategy with a vendor-agnostic, data-driven approach to inventory management How a neutral model improved visibility, reduced waste, and gave Takeda more control over their supply needs How Boston Lab Services and Labviva partnered to deliver automation, flexibility, and operational excellence Actionable insights for transforming procurement from a cost center into a strategic R&D enabler The talk will take place at the R&D Procurement & Sourcing in Pharma Summit at 10:00 a.m. on June 26. It will be moderated by Kleida Martiro, Partner at Glasswing Ventures and panelists include Hillary Ferrer, R&D Operations at Takeda, Andrew Petterelli, Procurement at Takeda, Elden Lainez, CEO of Boston Lab Services and Nick Rioux, CTO of Labviva. Labviva's R&D Procurement Cocktail Reception Show attendees and members of the press can RSVP for Labviva's cocktail event which takes place at the Hilton Boston Logan Airport, One Hotel Dr, Boston, MA 02128, on June 24th from 5:00pm-6:00pm. 'At the R&D Procurement & Sourcing in Pharma Summit, we plan to demonstrate the value of modernizing research procurement processes using AI automation,' said Siamak Baharloo, CEO of Labviva. 'In an era of tariffs and trade wars, compliance and efficiency are king. And with Labviva, pharmaceutical procurement teams enjoy improved transparency, diverse supplier access, broad product and pricing options, and the inventory controls they need to ensure compliance, supply chain security, and mass efficiencies while maintaining complete control of their data.' To schedule a meeting or press interview with Labviva, please contact Jennifer Olszewski at jolszewski@ About LabvivaLabviva connects researchers with suppliers of reagents, chemicals, and instrumentation in an intuitive, user-friendly platform that supports the priorities of scientists while staying compliant with purchasing rules. Suppliers can easily manage the content of their products, and products are mapped into scientific applications, techniques and protocols. To learn more about how Labviva accelerates the science of life, visit us at Media Contacts:Jennifer OlszewskiLabviva917-445-4454jolszewski@ or Michael IngallsPenVine for Labviva917-494-4909michael@ A photo accompanying this announcement is available at in to access your portfolio
Yahoo
21 hours ago
- Business
- Yahoo
JAGGAER Becomes First Source-to-Pay Company to Achieve Elite ISO/IEC 42001 Certification for Artificial Intelligence Management System
Putting responsible and ethical AI at the heart of procurement innovation RESEARCH TRIANGLE PARK, N.C., June 19, 2025--(BUSINESS WIRE)--JAGGAER, a global leader in Source-to-Pay and supplier collaboration, today announced it has achieved ISO/IEC 42001:2023 certification for its Artificial Intelligence Management System (AIMS). This landmark achievement positions JAGGAER as the first company in the Source-to-Pay (S2P) industry to attain this rigorous international standard, underscoring its commitment to the responsible and ethical development and secure deployment of AI technologies. ISO/IEC 42001 is the world's first AI management system standard, designed to help organizations establish, implement, maintain, and continually improve an AIMS. The standard provides a framework for managing the unique challenges posed by AI systems, focusing on trustworthiness, transparency, accountability, and the mitigation of AI-related risks. "This certification is more than a compliance milestone—it reflects our belief that AI must be built on trust, transparency, and accountability," said Gopinath Polavarapu, Chief Digital and AI Officer at JAGGAER. "We're proud to lead the S2P industry in setting a new bar for responsible AI that helps our customers make smarter, safer decisions." The ISO/IEC 42001 certification validates JAGGAER's systematic approach to managing AI, ensuring that all AI-driven features within the JAGGAER One platform are developed and operated with considerations for ethical implications, data governance, security, and continuous improvement. As AI transforms the procurement landscape, this proactive stance on AI governance is not only critical but also confirms the company's longstanding track record in delivering advanced, trustworthy solutions. "Achieving ISO 42001 certification is about delivering real value and confidence to our customers," said Michael Garvin, Chief Information Security Officer at JAGGAER. "It's our commitment that AI is guided by clear, ethical principles to work effectively and fairly for your business. We proactively manage AI risks like security threats and bias, so you can leverage our innovative tools knowing your data and operations are secure. This certification validates that our solutions are built on a foundation of trust and transparency, giving you dependable, high-performing AI you can count on. I would like to congratulate the GRC team and everyone at JAGGAER who helped in this effort." JAGGAER's AI-powered solutions are designed to help organizations optimize their procurement processes, enhance supplier relationships, and gain actionable insights from their spend data. This certification further solidifies JAGGAER's position as a trusted partner for businesses embarking on their digital transformation journeys. About JAGGAER: JAGGAER is a global leader in enterprise procurement and supplier collaboration, and the catalyst for enhancing human decision-making to accelerate business outcomes. We help organizations to manage and automate complex processes while enabling their highly resilient, accountable, and integrated supplier base. Backed by 30 years of expertise, our proven AI-powered industry-specific solutions, services, and partnerships form JAGGAER One, serving direct and indirect, upstream, and downstream, in settings demanding an intelligent and comprehensive source-to-pay solution. Our 1,200 global employees are obsessed with helping customers create value, transform their businesses, and accelerate their journey to Autonomous Commerce. View source version on Contacts For Jaggaer: Josephine OrnagoEmail: pr@ Cell: +39 3662250305 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
JAGGAER Becomes First Source-to-Pay Company to Achieve Elite ISO/IEC 42001 Certification for Artificial Intelligence Management System
Putting responsible and ethical AI at the heart of procurement innovation RESEARCH TRIANGLE PARK, N.C., June 19, 2025--(BUSINESS WIRE)--JAGGAER, a global leader in Source-to-Pay and supplier collaboration, today announced it has achieved ISO/IEC 42001:2023 certification for its Artificial Intelligence Management System (AIMS). This landmark achievement positions JAGGAER as the first company in the Source-to-Pay (S2P) industry to attain this rigorous international standard, underscoring its commitment to the responsible and ethical development and secure deployment of AI technologies. ISO/IEC 42001 is the world's first AI management system standard, designed to help organizations establish, implement, maintain, and continually improve an AIMS. The standard provides a framework for managing the unique challenges posed by AI systems, focusing on trustworthiness, transparency, accountability, and the mitigation of AI-related risks. "This certification is more than a compliance milestone—it reflects our belief that AI must be built on trust, transparency, and accountability," said Gopinath Polavarapu, Chief Digital and AI Officer at JAGGAER. "We're proud to lead the S2P industry in setting a new bar for responsible AI that helps our customers make smarter, safer decisions." The ISO/IEC 42001 certification validates JAGGAER's systematic approach to managing AI, ensuring that all AI-driven features within the JAGGAER One platform are developed and operated with considerations for ethical implications, data governance, security, and continuous improvement. As AI transforms the procurement landscape, this proactive stance on AI governance is not only critical but also confirms the company's longstanding track record in delivering advanced, trustworthy solutions. "Achieving ISO 42001 certification is about delivering real value and confidence to our customers," said Michael Garvin, Chief Information Security Officer at JAGGAER. "It's our commitment that AI is guided by clear, ethical principles to work effectively and fairly for your business. We proactively manage AI risks like security threats and bias, so you can leverage our innovative tools knowing your data and operations are secure. This certification validates that our solutions are built on a foundation of trust and transparency, giving you dependable, high-performing AI you can count on. I would like to congratulate the GRC team and everyone at JAGGAER who helped in this effort." JAGGAER's AI-powered solutions are designed to help organizations optimize their procurement processes, enhance supplier relationships, and gain actionable insights from their spend data. This certification further solidifies JAGGAER's position as a trusted partner for businesses embarking on their digital transformation journeys. About JAGGAER: JAGGAER is a global leader in enterprise procurement and supplier collaboration, and the catalyst for enhancing human decision-making to accelerate business outcomes. We help organizations to manage and automate complex processes while enabling their highly resilient, accountable, and integrated supplier base. Backed by 30 years of expertise, our proven AI-powered industry-specific solutions, services, and partnerships form JAGGAER One, serving direct and indirect, upstream, and downstream, in settings demanding an intelligent and comprehensive source-to-pay solution. Our 1,200 global employees are obsessed with helping customers create value, transform their businesses, and accelerate their journey to Autonomous Commerce. View source version on Contacts For Jaggaer: Josephine OrnagoEmail: pr@ Cell: +39 3662250305
