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May 11, 2016 9:39 EST

Synthium Health: Transforming the healthcare supply chain, one member at a time.

iCrowdNewswire - May 11, 2016

Synthium Health

Synthium Health.

Transforming the healthcare supply chain, one member at a time.

COMPANY OVERVIEW

According to Markets & Markets research, the global healthcare supply chain market was valued at $9.2 billion in 2014 and is poised to grow at a CAGR of 8.3% from 2014 to 2019 to reach $13.8 billion by 2019. The North American market is expected to grow at the highest rate, with the need to lower healthcare costs being the major driver for this market. In an effort to help reduce these costs, Synthium Health has come up with a “Go Direct” solution to enable eCommerce between healthcare buyers and sellers and to manage their supplies.

Synthium Health is a cloud-based, digital information and eCommerce platform engineered exclusively for the healthcare industry. We offer automated supply chain management solutions that create remarkable experiences between trading partners by driving engagement and conversion.

Why do manufacturers want to join Synthium?

Healthcare manufacturers often use two channels to sell their products—distributors and GPOs. If they use both these channels, it costs about 5% and there are many terms and conditions attached. With Synthium Health, manufacturers have the “Go Direct” option alongside the other two, with the following benefits:

  • Save over 50% on the transaction fee
  • Pricing transparency
  • Inventory visibility
  • Ability to interact with their customers (healthcare providers) and innovate

Why do providers want to join Synthium?

Healthcare providers have a variety of options to purchase products, which can be time consuming and confusing. With Synthium Health they:

  • Manage inventory
  • Enable the JIT(Just in Time) delivery option
  • Eliminate contracted pricing errors
  • Save by choosing to “Go Direct”
  • Search the best prices at the time by using our Agent technology
  • Manage surgeries effortlessly using our surgery scheduler

Synthium Health helps providers and suppliers come together in a single community to discover and collaborate in the marketplace, eliminating the middleman. Leveraging the latest technologies and online solutions, our customers cut operational costs, maximize efficiencies, grow revenues and build long-lasting relationships.

We named our company Synthium Health because it integrates the power ofsynergy and synthesis between providers and suppliers who come together in cooperation to positively impact the healthcare system. Synthium Health is a place to do business – and a place to communicate with colleagues and learn about products, breakthroughs and best practices.

The mission of Synthium Health is to provide healthcare providers and suppliers with excellence in automated supply chain management solutions. By remaining flexible and adaptive to the evolving needs of our healthcare community, we help members achieve a measurable difference in the form of cost savings, operational efficiency, and supplies/inventory visibility and management.

KPIS

409USERS
11EMPLOYEES
62%ROI

 

INSIGHT

Synthium Health is a networking marketplace for the healthcare industry that enables providers and suppliers to exchange information and conduct eBusiness.

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TRACTION

Founder developed the back end and hired professional team of designers and engineers.

OCTOBER, 2013

Seed Funding of $500k enabled: Deep Customer Research & Surveys, and Platform Development.

NOVEMBER, 2013

Built out the Production Servers & Network Architecture.

APRIL, 2014

Added 2 Sales & Marketing Professionals and re-developed Marketing Strategy.

MAY, 2014

Review of Exchange Rules & User Agreements by FDA Legal Counsel.

JULY, 2015

SEO/marketing efforts started and first member was signed up.

OCTOBER, 2015

Advanced Partnership Talks with 3 Major Players.

FEBRUARY, 2016

409 Customers signed up on Synthium Health platform.

APRIL, 2016

LEADERSHIP

Vijay Reddy
Vijay Reddy is an Engineer with masters in Computer Software Development with expertise and rich history in designing systems among the HealthCare and Technology ecosystem. For the past 24 years, Mr. Reddy, launched his career serving as CIO/Principal for OSI Systems, Inc. (Currently, MedAssets Inc.), located in Atlanta, GA. During that term, Mr. Reddy worked on various applications that produced revenues over $15 million dollars per year. These applications are identified as AUTO CODING SYSTEMS – which were in use in over 1,800 hospitals across the United States and STRATEGIC PRICING MODEL (SPM) Mr. Reddy then became CEO, of AndhraVision Infotek Pvt. Ltd, located Hyderabad, India , where he lead the company from startup to 80+ person organization within 3 years. AndhraVision Infotek, is a Business Process Outsourcing, division for US healthcare industry. Mr. Reddy’s passionate drive for Software Development and Engineering steered his efforts in the direction of developing his own US Corporations. Avanti Solutions, Corp, located in Marietta, GA. Mr. Reddy Engineered, Medical provider payment solution called the PayD. A concept created to advance payments to the healthcare entities within 48 hours of submitting claims, while partnering with a local bank to facilitate credit lines for each healthcare client. Mr. Reddy acquired a revenue cycle management company, ProClaim Inc., located in New Hampshire. Successful in operations, this niche market product provides cloud based medical billing, coding & revenue cycle support to Healthcare providers. Mr. Reddy, continued to pioneer in the Healthcare industry and founded PCI Technologies, Corp., Building on his passion and strength of Healthcare Technology, founded Synthium Health in Synthium Health is a networking marketplace for the healthcare industry that enables providers and suppliers to exchange information and conduct eBusiness.
Yamini Vedhire
MBA with over 18 years of experience in finance & operations.
George Kruythoff

George Kruythoff

Director of Sales Operations

Seasoned sales executive with cross-functional experience in driving multi-million dollar strategies.

Unverified

TOP INVESTORS

Team Member Name

Vijay Reddy

CEO

Vijay Reddy is an Engineer with masters in Computer Software Development with expertise and rich history in designing systems among the HealthCare and Tec…

 

TEAM

Team Member Name

Jeana Newbern

Business & Marketing Manager

BOARD OF DIRECTORS / ADVISORS

Team Member Name

Kurt Blasena

Advisor

Team Member Name

Keith Mauppa

Partner

Team Member Name

Bhawana Agrawal

Advisor

Team Member Name

Thato Mashigo

Advisor

Contact Information:

Vijay Reddy

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