Medical supply chain management SaaS company Global Healthcare Exchange(GHX) is purchasing vendor management software company Vendormate for a reported $220 million. The deal, which is supposed to close in early December, will add vendor credentialing capabilities to Louisville, Colorado-based GHX’s software suite.
"Healthcare is at a critical juncture and providers are facing increased demands in complying with the rising number of reimbursement-related regulations. Bringing the Vendormate solutions for company and rep credentialing into the GHX portfolio gives providers and suppliers even greater opportunities to work together to improve the cost and quality of healthcare," said Bruce Johnson, CEO and president of GHX in a statement.
With Vendormate as part of its portfolio, GHX hopes to offer a more compelling package of software to hospitals. A sort of one stop shop for vendor management and payment software, GHX’s acquisition could be a more efficient sale to hospital adminstrators. Moreover, healthcare is also a highly regulated industry, Vendormate’s vendor credentialing features is a nice way to ensure compliance for GHX’s existing customers.
Vendormate will be operated as a wholly owned subsidiary. GHX said in a statement it wiould focus on improving “automation, efficiency and accuracy of the complementary solutions through analytics and integrated data flow.” GHX and Vendormate share a number of customers already, so further integration makes sense.
"This is a great opportunity for Vendormate customers, many of whom are also GHX customers. The combination of GHX and Vendormate allows them to do business with a partner who can help solve even more of their supply chain and vendor management problems, while improving their total cost and operational performance," said Andy Monin, CEO of Vendormate.
For those customers that Vendormate does not share with GHX, it will be able to sell into a large collection of GHX’s cliental, including 4,000 hospitals and 18,000 provider facilities.
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