December 4, 2008
MEDmarketplace.com Signs Contract with Resource Optimization & Innovation (ROi) to Sell Surplus Hospital Equipment
FT. Lauderdale, FL (December 4) --- MEDmarketplace.com announced today that it has been awarded a purchasing agreement by ROi, the for-profit group contracting entity for the Sisters of Mercy Hospital System (Mercy), headquartered in St. Louis. MEDmarketplace.com provides a web-based marketplace for selling surplus medical equipment and supplies.
Under the agreement, Mercy's 18 acute care hospitals, two heart hospitals and other health related service organizations will have the opportunity to display and sell their unused and excess assets on the MEDmarketplace.com website.
"Our proprietary Progressive Access(TM) technology and our Fair Market Valuation service provides, ROi and Mercy with an exclusive marketplace to optimize the sale, transfer or donation of their unused and excess hospital equipment and supplies," said Vincent Baratta, MEDmarketplace.com founder and CEO. "We are happy to be partnering with MEDmarketplace.com. Their services are not only valuable from a cost perspective, but also give us an opportunity to ensure we are good stewards of our resources," said Larry Dooley, Vice President of Group Purchasing for ROi.
About MEDmarketplace.com
MEDmarketplace.com—the world’s largest on-line marketplace for selling hospital equipment—provides innovative, cost effective and revenue generating services to hospitals and alternative care facilities. MEDmarketplace.com is ranked number 1 in hospital equipment, medical equipment, and medical supplies, among other related terms, on all major search engines. These rankings have helped to solidify the Company’s status as the leading global medical marketplace for healthcare facilities, providers and consumers searching for medical equipment and supplies. Ziegler HealthVest Partners, LP is the lead institutional investor in MEDmarketplace.com.
About Resource Optimization & Innovation
Resource Optimization & Innovation (ROi) is an operating division of the Sisters of Mercy Health System (Mercy) that allows Mercy to successfully offer a single-source, fully integrated supply chain solution to serve its customers. ROi focuses on three primary areas of service: performance consulting, group purchasing and supply chain management. As of fiscal year 2008, ROi has $560 million in contracted volume, more than 1,400 members and serves more than 4,000 licensed beds in 22 acute care hospitals. ROi is headquartered in St. Louis, Mo. and has distribution operations at the Consolidated Services Center (CSC) in Springfield, MO.
About Sisters of Mercy Health System
The Sisters of Mercy Health System (Mercy) was established in 1986 to serve as the parent corporation of a variety of health care facilities and services sponsored by the Sisters of Mercy of the St. Louis Regional Community. Mercy consists of 18 acute care hospitals, two heart hospitals, outpatient care facilities, physician practices, skilled nursing and long-term residential care facilities, clinics, a managed care organization and other health related services. Mercy is the 9th largest Catholic healthcare system in the US based on net patient service revenue. Today, Mercy operates facilities and services in a seven-state area encompassing Arkansas, Kansas, Louisiana, Mississippi, Missouri, Oklahoma and Texas. Health System services are provided by approximately 26,000 co-workers and 3,100 physicians. For further information, please visit www.mercy.net.
About Ziegler HealthVest Partners, LP
Ziegler HealthVest Partners, LP, based in Milwaukee, WI, is a venture capital fund that invests in early-to-middle stage healthcare services, healthcare information technology and wellness companies. They are the lead institutional investor in MEDmarketplace.com. The Ziegler Companies, Inc. (symbol: ZGCO) is a growth-oriented boutique investment banking and investment services firm.
Press Contact:
Contact: Tom Armor
Company: MEDmarketplace.com
Phone: 954-491-5111
Email: tom.armor@medmarketplace.com
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