Med1Online, a leading provider of new, used and reconditioned capital medical equipment (CME) across all medical specialties, announced today that it has entered into an agreement with MedAssets Supply Chain Systems, a group purchasing organization and division of MedAssets, Inc. (NASDAQ: MDAS), representing more than 30,000 healthcare providers.
The multi-year agreement enables Med1Online to present various cost-saving opportunities to MedAssets Supply Chain Systems’ extensive and diverse customer base, which encompasses hospitals, clinics, hospital-based physicians and long-term care facilities, among many others. Services to be provided by Med1Online include asset recovery solutions (which spans Med1Online’s purchasing or consignment of used equipment from MedAssets Supply Chain Systems customers); new and used equipment sales; equipment warranties, servicing and repairs; an internal equipment exchange program via a customized, online Extra-Net system; inventory and appraisal services.
“We are excited to align with MedAssets Supply Chain Systems and their customers. This agreement allows Med1Online to expand upon its representation of various healthcare sub-sectors including the hospital segment. Our broad medical equipment sales knowledge and highly trained professionals will help strengthen MedAssets Supply Chain Systems’ initiatives and foster additional cost-savings benefits for their customers,” said Mark Axe, chief strategy officer for Med1Online.
“Over the years, Med1Online has established a strong expertise in the buying and selling of medical equipment across various healthcare specialty segments. MedAssets Supply Chain Systems’ customers will soon benefit from our years of experience in the capital medical equipment business as we help them contain costs and witness greater efficiencies with their purchasing tactics,” Axe explained.
Joseph Dysko, executive director of engineering and capital resource group for MedAssets Supply Chain Systems, noted: “We are excited to work with Med1Online under this new agreement, which affords us a completely transparent system for the redeployment of our customers’ outdated medical equipment. By capitalizing on Med1Online’s vast network and having the ability to ascertain potential buyers of this type of equipment, we can bring our customers a positive return on their initial investments. We look forward to the advantages this relationship will offer our broad customer base and to the expertise Med1Online will bring to our organization.”
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, including 2,500 hospitals and 30,000 non-acute care healthcare providers. For more information, go to www.medassets.com.
Golden, Colo.-based Med1Online (www.med1online.com) was founded in 2002 to provide purchasers with a better vehicle in which to buy capital medical equipment. The company is a leader in the provision of new, used and reconditioned capital medical equipment for all medical specialties. Its customers include physicians, dentists, surgical centers, hospitals and a range of other health care providers.
Since its inception, Med1Online has focused on building the most comprehensive database containing information about pre-owned, premium quality, late model products available for purchase from physician offices, hospitals and clinics throughout the country. Med1Online offers prescreened, best value, leading-edge technology at every price-point, in every product line. Med1Online is ISO 13488:96-compliant, providing an internationally recognized level of quality assurance. The Med1Online logo is a registered trademark of Med1Online. Other trademarks are the property of their respective owners.