H-Source Holdings Ltd (CSE:HSI), a private marketplace for hospitals and surgery centers to buy and sell medical products and equipment with each other, announced a summary of recent positive developments for the company, including being named preferred partner by four hospital associations.
Although there is increasing pressure to reduce supply chain costs due to declining hospital operating margins, there is a significant waste issue surrounding the medical industry. Each year in the United States, billions of dollars’ worth of new devices, pharmaceuticals and equipment pass the expiration date or are thrown away, decreasing hospital operational efficiencies and profit margins.
The H-Source network, a cloud-based marketplace for hospitals and ambulatory surgery centers to buy and sell excess inventory supplies and capital equipment, provides hospitals and ASCs access to medical devices, pharmaceuticals and capital equipment where members can easily perform transactions and save money. Highlights of H-Source's recent business developments include:
- More than 30 hospitals are currently participating in the H-Source platform, including a 650-bed teaching hospital, and a university medical center.
- Management anticipates that there will be more than 55 participating hospitals by the end of 2015.
- There are approximately 3,000 items currently on the H-Source network for sale.
- H-Source became a business member of Practice GreenHealth, a non-profit membership organization founded on the principles of positive environmental stewardship and best practices for organizations in the healthcare community.
H-Source became the preferred partner of the Washington State Hospital Association, the Georgia Hospital Association, the Northern California Hospital Association, and the Southern California Hospital Association.
Along with these significant business developments, the company commenced trading on the Canadian Securities Exchange on Oct. 1, 2015. Targeting more than 10,000 United States hospitals and surgery centers and more than 30,000 global hospitals and surgery centers, H-Source continues to demonstrate strong growth prospects and positions their cloud-based marketplace as an absolute necessity within the medical market.
"We are excited to have the capital to aggressively pursue the market," commented John Kupice, CEO and Director of H-Source. "We have a strong pipeline of medical facilities looking to reduce costs and waste in the hospital and medical supply chain and improve operating margins."
For more information about H-Source, visit www.h-source.com.
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