FAIRFIELD, Conn., Oct. 19 /PRNewswire/ -- Management Health Solutions ("MHS"), a growing healthcare information technology organization that provides supply chain software and business solutions for hospitals and healthcare systems nationwide, announced today that it has acquired Hospital Inventories Specialists ("HISI"), a leading provider of inventory management solutions and analytical services founded in 1982. With the acquisition, MHS will nearly double its customer base and market share, and offer clients a larger repertoire of analytical tools, additional benchmark data and deep healthcare domain expertise.
"The acquisition of HISI is a major step for MHS," said Bill Zierolf, President and Chief Executive Officer of MHS. "We are buying an established and recognized industry player that will appreciably enhance the supply chain software and optimization services that MHS has provided to the U.S. healthcare industry. Together, we'll be developing and releasing the next generation of supply chain operations tools, Optimal Inventory Control ("OPTIC") 3.0, to make managing the receipt, flow and charging of clinical supplies much more efficient."
The acquisition significantly expands MHS' industry presence. The combined entity will have approximately 1,000 hospital clients nationwide, doubling its client base and considerably expanding its geographic footprint. MHS will increase its number of employees and more than double its inventory valued to more than $5.0 billion from $2.5 billion. As a result of the transaction, MHS will serve approximately 20% of U.S. hospitals.
"The market opportunity and potential for growth is tremendous," continued Zierolf. "The majority of hospitals across the United States have yet to implement integrated point-of-use supply chain software, content management solutions and optimization best practices for tracking, managing, ordering and analyzing the flow and consumption of clinical supplies. Millions of dollars are wasted annually through overstocking, expired inventory, and last minute, overnight resupply. Our flagship product, OPTIC, addresses these needs and helps reduce cost and improve patient safety through increased visibility."
HISI's vast clinical supply expertise, particularly in the area of pharmacy inventory and analytics, will give MHS unparalleled insight into hospital supply chain activities and decisions with valuable data and trending information to support current and future benchmarking and diagnostic tools. MHS already regularly provides benchmarking and analytical tools to its clients, giving them considerable insight into supply chain operations improvements. The addition of HISI resources will boost those initiatives.
"Bringing these two companies together makes perfect sense," said Martin C. Wein, Principal and President of HISI. "The improvement in supply chain management that MHS will bring to a greater cross-section of the U.S. healthcare industry will not just reduce overall cost but improve patient safety as well."
"We believe HISI's customers will be impressed with MHS' level and quality of service and its technological edge in serving health systems nationwide," said Frank Grande, Principal and Chief Operations Officer of HISI.
The HISI transaction follows MHS' recent acquisition of AtPar Inc., a leading software development company, which provides point-of-use enabled applications and enterprise software that automate product tracking in all functional areas of the supply chain, from the loading dock to clinical areas. With this set of applications, hospitals can optimize their flow of supplies, automate reorder processes and preference cards, maintain PAR levels, and satisfy clinical needs and requirements to deliver optimal patient care.
"With full integration to all the leading Material Management Information Systems, our point-of-use mobile software applications provide unparalleled visibility for supply chain executives," said Mike Ferris, Co-Founder and Executive Vice President of Operations for MHS. "Integrating software and professional services to independently serve our national client base is MHS' sole focus as a company."
About Management Health Solutions
Management Health Solutions ("MHS") is a growing healthcare information technology organization that provides integrated mobile supply chain software applications, content services and professional service solutions to hospitals and healthcare systems nationwide. The Company provides hospitals with the software that manages the flow of supplies from the loading dock to the point-of-use, automating reorder, PAR management, replenishment and hundreds of other processes. Combined with our professional services and optimization solutions clients gain better visibility into operational trends, data, and benchmarking activities. MHS' services and technology result in dramatic improvements in a hospital's supply chain management and patient care while improving cost management and profitability. For more information, visit www.mhsinc.com
Optimal Inventory Control ("OPTIC") is a powerful suite of services and enterprise software applications that provide hospitals with the resources, processes and technology they need to completely automate and control their complete supply chain, from the loading dock to clinical areas. OPTIC draws upon the entire spectrum of MHS' supply chain consulting expertise, combining advanced software applications, superior content benchmarking and analysis, and MHS' project management, service and support to create a comprehensive supply chain solutions package for hospital administrators. OPTIC enables hospitals to reach optimal inventory levels, resulting in dramatic improvements in patient care, revenue recognition and cost management.
Management Health Solutions
Telephone: 888-647-4621 x750
SOURCE Management Health Solutions