University of Pittsburgh Medical Center and CombineNet, Pittsburgh, a technology company specializing in decision-making tools, have formed a joint venture to commercialize a system that connects pharmaceutical and medical-device suppliers with healthcare providers. UPMC will invest $2 million in the 50-50 joint venture, a UPMC spokeswoman said. The technology will allow for more efficient negotiations, officials said. The computerized sourcing model, called Expressive Commerce, will launch in late January when UPMC, Charleston (W.Va.) Area Medical Center and Northwest Hospital and Medical Center, Seattle, independently use the system to collectively purchase more than $1 billion in medical supplies. UPMC officials said the joint venture is part of a strategy to modernize the healthcare supply chain and cut costs. -- by Cinda Becker
Joint venture to launch supply-purchasing technology
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.