Procured Health provides medical equipment procurement solutions for hospitals
Headquartered in Chicago, USA, Procured Health is committed to providing hospitals with clinical equipment procurement programs that reduce unnecessary expenses. The company was founded in 2012.
Platform designed to optimize hospital medical equipment procurement solutions
According to the data, the annual investment in equipment procurement in the US hospital is about US$125 billion, accounting for 20%-25% of the total hospital expenditure. The hospital has a narrow source of information on equipment, and it is not easy to find other products with higher cost performance. Fortunately, most of the money is spent on first-aid devices. However, for hospitals, equipment purchases can be made with less capital, so the purchase of medical equipment needs to be optimized.
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Procured Health platform map
The company has developed a solution platform for managing equipment purchases in clinical expenditures, ultimately achieving the goal of enabling clinicians to give patients high-quality treatment services.
Both the hospital and the patient are beneficiaries
Procured Health's platform is a public comment on the medical device industry, where doctors and healthcare professionals can share the use of various devices with their peers on the platform. But Porcured Health is more than just a website for star rating. Its value lies in building a shared network between hospitals. Doctors can provide professional experience. And there is no uniform standard and rules for the use of the device, and the information transparency is not high. Procured Health wants the doctor to get useful information on the platform.
The more the doctors and hospitals participate in the platform, the greater the value of this project.
This project is also of great value to patients. When the hospital optimizes the plan for purchasing the device, the patient's treatment form can be optimized, and the cost of the treatment will be reduced, and the patient can obtain the most effective treatment.
Hani Elias, founder and CEO of Procured Health, said the company's origins can be traced back to his work as a consultant at a medical device company. He saw the US efforts to maximize product value and saw hospitals in medical care. A huge waste on the equipment.
The founder used McKinsey's consulting perspective to observe the project
In August 2012, Procured Health received $1.1 million in seed round financing from Zimmerman Ventures, Blueprint Health, and Bessemer Venture Partners. In March 2014, the platform received another $4 million Series A financing, with investors being FCA Venture Partners, Jump Capital. In June 2016, Procured Health received a $10 million Series B round of financing with the Heritage Group. As of now, the company's total financing is about 15.1 million US dollars.
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