|FOR IMMEDIATE RELEASE||
Chris Tofalli Public Relations, LLC
+1 914 834 4334
CHATTANOOGA, Tenn., Aug. 4, 2014 /PRNewswire/ -- TractManager, the leading provider of technology-enabled compliance and contract management services for healthcare organizations, marketed under MediTract, announced today that it acquired the business of MD Buyline, a portfolio company of SFW Capital Partners. Based in Dallas, TX, MD Buyline is the market-leading provider of sophisticated healthcare analytics and supply chain spend intelligence capabilities to healthcare providers and vendors.
For nearly 30 years, MD Buyline has built strong brand recognition and customer relationships by providing a unique solution consisting of sophisticated data analytics and proprietary software /IP, supported by a team of distinguished clinical experts. The company provides its clients, which include one-half of the nation's hospitals, with the most informed, evidence-based decision-making framework available for balancing cost with revenue maximization and high-quality clinical outcomes. With immediate and quantifiable return-on-investment benefits, MD Buyline's activities result in more than $1 billion of identified savings annually for its 3000 client organizations, across all non-labor categories of spending, including capital, consumables, and purchased services.
TractManager Chairman Donald A. Deieso, Ph.D., commented, "We are delighted to welcome MD Buyline into the TractManager family of companies. MD Buyline maintains a sterling reputation as the most reliable and effective spend management solution available for hospitals and provider organizations, and we remain fully committed to expanding the Company's products and services."
Dr. Deieso added, "At a time when all healthcare providers, especially our hospital clients, are being asked to optimize each dollar of spend, we see the combination of MediTract and MD Buyline as facilitating operational efficiency consistent with the highest standards of compliance and transparency."
"We considered a number of options to make MD Buyline even more valuable to our clients, and concluded that with TractManager our combined capabilities would provide an end-to-end solution, allowing them to manage their vendors from procurement through to contract execution and management," said MD Buyline CEO Satin Mirchandani. "We are excited to begin offering this expanded capability to our clients," he added.
TractManager CEO Buddy Bacon, commented, "Building a powerful client combination with our new partners at MD Buyline and extending it to our combined provider client base will transform the spend management and contract management service industry."
Financial details about the transaction were not disclosed.
TractManager is a leading provider of healthcare technology, systems, and services, which include contract management, compliance, and business intelligence solutions. With its proprietary solution, MediTract, the company currently works with more than 6,000 healthcare facilities and more than 130,000 users in the United States and international markets. Its solutions help to improve management visibility of contractual obligations, enhance compliance, streamline workflow, and deliver actionable business intelligence. For additional information, please visit www.meditract.com.
About MD Buyline
Healthcare providers recognize MD Buyline as the leading provider of evidence-based information and research. MD Buyline has partnered with providers for more than three decades to identify cost reduction opportunities for purchased services, consumables, capital and IT. Providers rely on MD Buyline's data and clinical analysis for financial and clinical insight to reach long- and short-term goals. For more information, please visit www.mdbuyline.com or follow us on Twitter @MDBuyline.