Global Healthcare Exchange and Syft to Jointly Improve Automation,...

Global Healthcare Exchange and Syft to Jointly Improve Automation, Data Analytics, and Inventory Management

Healthcare Tech Outlook | Wednesday, February 23, 2022

GHX expands its portfolio of solutions to assist organizations in meeting the demands of a value-based healthcare future.

FREMONT CA: Healthcare Supply Chain Logistics is a collection of processes, teams, and the movement of medications, surgical equipment, and other products required by healthcare professionals to perform their jobs. The purpose of supply chain management in healthcare is to identify and mitigate departmental risks. It tries to identify areas of weakness to attain desired health outcomes and improve global health investments. The benefits of an efficient supply chain in healthcare include enhanced operations, more efficient resource usage, happier staff, effective treatment, and satisfied patients. Global Healthcare Exchange (GHX) has purchased Syft®, a leading provider of AI-enhanced inventory control and end-to-end supply chain management software and services based in Tampa, Fla. Syft joins GHX's value-based care division's increasing range of supply chain modernization solutions as a wholly-owned subsidiary.

"To combat these challenges and accelerate the shift to value-based care, health systems need to transform the supply chain from a cost center to a value-driver," states Bruce Johnson, president, and CEO, GHX. "Forward-thinking leaders are investing in the digital transformation of the supply chain with the technology, data, and processes required for greater collaboration, automation, visibility, and data-driven decision-making. Syft provides the data and insight health systems need to reduce costs, improve efficiency, and support care transformation."

As health systems continue their transition to value-based care and attempt to overcome the COVID-19 problems, they confront considerable pressures from staffing shortages, reimbursement challenges, rising supply costs, and chronic sourcing difficulties.

Syft's automation solutions, comprehensive data analytics, and inventory management services streamline supply chains from dock to dock, from warehousing and distribution to the point of use.

“Healthcare can be complex, but we share GHXs vision that together we can help simplify the business of healthcare to improve outcomes so that we create a future where affordable, quality healthcare is possible,” states Todd Plesko, CEO, Syft. “The GHX network and collection of data combined with our approach to automation-driven supply chain management will help healthcare transform the supply chain, building greater resilience and agility.”

Syft is GHX's third purchase in the last two years focused on advancing healthcare's transition to value-based care. In January 2020, GHX acquired Explorer Surgical, a fully digital and remote case support provider October 2021, and Lumere, an evidence-based data and analytics provider. The transaction's financial specifics were not disclosed. Cleary Gottlieb Steen & Hamilton LLP advised GHX on legal matters. McDermott Will & Emery advised Syft on legal issues.

“A recent study conducted by Syft found that nearly 80 percent of hospital leaders say supply chain optimization reduces costs and improves margins. With hospitals spending in excess of $25 billion more than necessary each year on supply chain expenses, we see a tremendous opportunity to help enable a more efficient and value-driven healthcare system," states Tina Murphy, Division President, Value-Based Care GHX.

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