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Chicago, IL. The Initiant Health Collaborative, inclusive of Greenville Health System, McLeod Health, The Medical University Health Authority of South Carolina, Palmetto Health and Self Regional Healthcare has entered into a multi-year partnership agreement with OpenMarkets to aggregate demand and reduce the cost of capital equipment.

Initiant, formed in April 2014, is the largest regional collaborative in the Southeast. The decision to partner with OpenMarkets was driven in part by the experience of the Medical University of South Carolina (MUSC), which has been a partner with OpenMarkets since April 2014.

“We joined OpenMarkets as part of a strategy to modernize and improve our capital procurement strategy,” says Régine Honoré Villain, MPH, Chief Supply Chain Officer for MUSC. “Our experience, and the $161,000 in direct cost savings we’ve created certainly provided confidence to our fellow Initiant members that working with OpenMarkets is a good idea.”

MUSC is also using CAP Connect, the new centralization and capital budgeting software system developed by OpenMarkets. This system creates an efficient process for MUSC departments to communicate and collaborate with the MUSC finance and supply chain teams on capital equipment requests.

“We’re extremely excited to get going with OpenMarkets,” says Terri Newsom, Chief Financial Officer at Greenville Health System. “Partnering with OpenMarkets fits into our joint mission to reduce costs by aggregating our data and proactively working together.”

Tom Derrick

Tom leads a range of core functions for OpenMarkets, including strategic partnerships and marketing. Prior to OpenMarkets, Tom served as a senior communications director for... More about Tom Derrick