MEMdata and MedicExchange to Integrate Social Media with Medical Equipment Purchasing

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Deal to Integrate MEMdata Budgeting and Procurement Platform for 75,000 Subscribers of MedicExchange

“This is a significant milestone for MedicExchange.” Said Alex van Klaveren, MedicExchange, CEO. "The pricing data and procurement capabilities of MEMdata helps medical professionals reduce capex costs..."

MEMdata and MedicExchange have entered into an agreement to integrate MEMdata's equipment purchasing, benchmarking and budgeting services with the social media and technology assessment capabilities of MedicExchange.

Per the terms of the agreement, the 75,000 worldwide subscribers of MedicExchange.com will receive MEMdata services via cooperative web portal development between the firms. Both companies state medical facilities will significantly reduce new capital equipment purchase costs by up to 18% using MEMdata services on a pay-per-use basis through the MedicExchange platform.

“Integrating our e-procurement services with the growing content and social media capabilities at MedicExchange.com will provide a powerful platform for subscribers to budget and procure equipment while sharing information among one another,” said MEMdata CEO Bob Yancy.

MEMdata’s eRFP procurement auction process, which will be made available to MedicExchange subscribers, was the subject of an independent study conducted by two Washington D.C. economists in 2010. The empirical study, which compared the equipment pricing MEMdata achieves for its clients with that of traditional supply chain contracting processes, found medical facilities in 41 states achieved an 18% identified cost reduction in total capital equipment expenditures in 2010.

“This is a significant milestone for MedicExchange.” Said Alex van Klaveren, MedicExchange, CEO. The pricing data and procurement capabilities of MEMdata helps medical professionals reduce capex costs at a time when they are seeking to reduce operating costs like never before. This integration provides our 75,000 subscribers with an affordable, innovative solution to accomplish that.”

MedicExchange offers a subscriber-based portal of medical equipment manufacturer data, coupled with social media capabilities in which healthcare professionals can collaborate with one another, research, exchange information and now source medical equipment technology. MedicExchange subscribers, approximately 75,000 strong, include medical facility staff members from technologists to supply chain personnel within hospitals, clinics, imaging centers and independent physician offices.

The integrated platform is under active development, and is expected to roll out to MedicExchange subscribers in the Spring of 2011.

About MEMdata

MEMdata processes equipment transactions for approximately 550 medical facilities nationwide, using an eRFP procurement auction process which a 2010 independent economic study found achieves the best pricing in the nation on equipment for medical facilities. In addition to competitive equipment pricing for existing medical facility technology needs, MEMdata also offers Equipment Planning for construction projects, web-based tools in support of capital equipment investments, price benchmarking, maintenance analyses and other services. MEMdata is based in College Station, Texas. http://www.memdata.com

About MedicExchange:

MedicExchange provides technology-enabled tools, technical data and a robust social media platform for 75,000 healthcare buyers representing $12B in annual purchases. MedicExchange provides a more efficient means of making purchasing decisions and discovering prices to help reduce costs within the global healthcare technology market, for Healthcare IT, Radiology, Dentistry, Veterinary, Cardiology, Gastroenterology, Neurology, Obstetrics, Oncology, Orthopedics, Ophthalmology, Pulmonology, Surgery, General Healthcare, Medical Devices, and Medical Accessories. MedicExchange is headquartered in New York with offices in the UK, India and China. http://www.MedicExchange.com

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Scott Jennings
MEMdata
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