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How are senior leaders at hospitals nationwide leveraging data and information to help them manage medical devices? At a time in healthcare when every cost needs to be scrutinized and rationalized, leaders at Arkansas Children’s Hospital in Little Rock, Arkansas, have been saving $10,000 a month in cost savings on repairs and a 65-percent average cost savings per repair, per medical device.
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Bain Capital is eyeing opportunities in the ongoing digitization of healthcare with its recent acquisition of medical equipment parts and services company PartsSource. Bain Capital Private Equity purchased the supplier from Great Hill Partners in a deal that values the company at about $1.25 billion, according to people familiar with the matter, The Wall Street Journal reported.
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The company has been adding to its offerings in recent years, but a new owner in Boston-based Bain Capital Private Equity could accelerate that growth. PartsSource Inc. wants to simplify the medical equipment parts and service marketplace.
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Bain Capital Private Equity's Managing Director Devin O'Reilly explains why his firm sought out its new investment in PartSource and other investment areas Bain likes in the healthcare space. (Video)
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The investment will help PartsSource continue to accelerate its growth trajectory, broaden its solutions portfolio, and expand its marketplace platform, according to a news release. PartsSource will continue to operate under its current management team, led by President and CEO Philip Settimi, MSE M.D. Financial terms of the private purchase from current owner Great Hill Partners were not disclosed.
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Bain Capital is buying medical-equipment parts and services company PartsSource Inc. from private-equity firm Great Hill Partners in a deal that values the company at about $1.25 billion, according to people familiar with the matter.
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When 20 ventilators from the State of New York arrived without a pre-arranged delivery time on the shipping dock of Patchogue-based Long Island (LI) Community Hospital at the height of the coronavirus pandemic, the hospital’s clinical engineering (CE) team kicked into high gear. The 300-bed, not-for-profit hospital located 50 miles east of New York City was in the thick of the pandemic, with 69 COVID-19 patients on ventilators.
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The health system's biomed director, who manages 32,000 pieces of equipment, tells a compelling tale of moving from paper to a digital, data-driven system. Marshfield Clinic Health System is a fast-growing health system in Wisconsin. Since 2017, it has jumped from one to nine hospitals and now has more than 1,200 providers totaling 86 specialties.
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The Healthcare Technology Report is pleased to announce The Top 100 Healthcare Technology Companies of 2021. This year’s awardees comprise a broad range of companies from well-known names like Johnson & Johnson, 3M Health Care, and Illumia to relatively newer but rapidly growing enterprises such as GRAIL, Capsule, and DNA Script.
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