We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Global Healthcare Exchange Announces Plan to Acquire Prodigo Solutions
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Global Healthcare Exchange Announces Plan to Acquire Prodigo Solutions

April 17, 2023
No Comments

Louisville, Colo., April 17, 2023 — Today, Global Healthcare Exchange (GHX) announced that it has signed a definitive agreement to acquire Pittsburgh, Penn.-based Prodigo Solutions, Inc. (Prodigo), a supply chain and data enablement technology company.

In 2023, hospitals are seeking a return to profitability even as they continue to experience the same challenges that made 2022 the most financially difficult year since the start of the COVID-19 pandemic, including persistent inflation, higher labor expenses, and lower patient volumes.

Prodigo’s offerings help to broaden the healthcare supply chain’s span of control, expanding the potential for savings across multiple categories of spend (including non-traditional categories such as purchased services, minor equipment, and labor) and across a quickly expanding continuum of care (including acute, nonacute, clinics, offices, and direct-to-patient care). Prodigo shapes demand by directing spending toward contractually compliant and cost-optimized product options during the procurement process. As a result, health systems achieve higher contract utilization, maximize savings associated with committed contract terms, and support sustainability objectives that are becoming essential components of modern supply chains.

Prodigo’s Path to Value Benchmark Study concluded that Health System [1] supply chains have less than 45 percent of supply chain spend flowing through ERP managed Item Master items, with less than 60 percent of purchases in healthcare being tied to valid, active contracts.

“Studies like this confirm the urgency health system executives[2] feel to become more lean and efficient,” said Tina Vatanka Murphy, president and CEO at GHX. “Achieving 5-8 percent cost reduction through active contract price management is a critical lever in helping organizations achieve their aggressive savings goals. We are delighted to welcome the Prodigo team to GHX.”

According to McKinsey, supply input costs have risen 15-25 percent between 2019 and 2022 and by 2027, inflation could result in an additional $370 billion in healthcare spending above the expected baseline increase.

“Connecting Prodigo’s directed buying capabilities with GHX’s industry leading platform and collection of enriched and validated supply chain data, will allow healthcare providers to better identify opportunities to increase financial control, reduce supply chain costs, eliminate waste, and improve contract compliance,” said Prodigo’s executive chairman and president, Joseph Mayernik. “We are excited for the opportunity to create even greater impact for our joint customers and the broader industry.”

Prodigo represents the fourth acquisition by GHX in as many years, focused on delivering solutions that simplify the patient-centered business of healthcare to improve outcomes. In February 2022 GHX added Syft, a leading provider of AI-enhanced inventory control and end-to-end supply chain management software and services.

Following the transaction close, Prodigo will operate as a wholly owned subsidiary of GHX. Financial terms of the transaction were not disclosed. Cleary Gottlieb acted as legal advisor to GHX. Bass Berry & Sims acted as legal advisor to Prodigo Solutions.

Prodigo was founded in 2008 by UPMC, the world-renowned Pittsburgh-based healthcare provider and insurer. Today, Prodigo is supported by UPMC Enterprises, the innovation and commercialization arm of UPMC, and serves some of the largest, leading health systems in the U.S. GHX will retain the Cranberry Township location.

For more information on Prodigo Solutions, visit www.prodigosolutions.com.

About GHX:

Building on decades of collaboration among providers, manufacturers, distributors and other industry stakeholders, Global Healthcare Exchange, LLC (GHX) is leading the charge in helping organizations run the new business of healthcare. By automating key business processes and translating evidence-based analytics and data into meaningful action, GHX is helping the healthcare ecosystem to move faster, operate more intelligently and achieve greater outcomes. With the support of GHX, healthcare organizations have removed billions of dollars of wasteful healthcare spend. For more information on GHX’s suite of cloud-based supply chain solutions, visit www.ghx.com and The Healthcare Hub.

https://www.ghx.com
Submit your logistics, material handling, or supply chain related company news in Supply Chain Quarterly's's Industry Press Room section or New Products section
Finance Procurement Special Coverage
KEYWORDS Global Healthcare Exchange (GHX)
    • Related Articles

      Global Healthcare Exchange acquires Lumere

      Freightos completes plan to go public on NASDAQ exchange, raises $80 million

      Supply chain companies to launch healthcare industry exchange

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Report: Sagging freight stats show that trucking sector is returning to its historic mean

    • Survey: parcel delivery drivers are frustrated by using their own smartphones for work

    • Heavy transport across two continents

    • Survey: most Americans unaware that truckers face shortage of parking spaces

    • Supply chain executives not yet seeing expected results from technology investments

    Featured Video

    20221107korber large vs

    Enhancing Customer Experience with Your Supply Chain Strategy

    Viewer Contributed
    With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

    FEATURED WHITE PAPERS

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    • Five tips for parcel success in 2023

    • Guide to Pallet Rack Safety

    View More

    Subscribe to Supply Chain Quarterly

    Get Your Subscription
    • SUBSCRIBE
    • E-NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing