TractManager, a contract management company based in downtown Chattanooga, has purchased a Dallas, Texas, business that provides hospitals with clinical and financial data to make technology or service decisions.
The acquisition of MD Buyline, which has about 70 employees and works with half of the nation's hospitals, is designed to further improve the efficiency of client operations.
"At a time when all health care providers, especially our hospital clients, are being asked to optimize each dollar [spent], we see the combination ... as facilitating operational efficiency consistent with the highest standards of compliance and transparency," said TractManager Chairman Donald A. Deieso in a statement.
MD Buyline's operations are expected to remain in Dallas, company spokeswoman Lisa Osborne said Tuesday. The purchase price wasn't disclosed. SFW Capital Partners was the seller.
TractManager currently has about 100 people in Chattanooga and 105 employees overall. The company centralizes, monitors and controls contract management, currently working with more than 6,000 health care facilities. The company's aim is to enhance contractual obligations and compliance and streamline work flow.
MD Buyline provides data analytics and uses proprietary software to provide clients with "an evidence-based decision-making framework," the company said. It said that MD Buyline's activities have resulted in more than $1 billion of identified savings annually.
Deieso said TractManager is "fully committed to expanding [MD Buyline's] products and services."
MD Buyline Chief Executive Satin Mirchandani said company officials considered a number of options and concluded that, with TractManager, the combined capabilities would provide "an end-to-end solution, allowing them to manage their vendors from procurement through to contract execution and management."
TractManager CEO Buddy Bacon said 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."
Contact Mike Pare at email@example.com or at 7576318.
Mike Pare, the deputy Business editor at the Chattanooga Times Free Press, has worked at the paper for 27 years. In addition to editing, Mike also writes Business stories and covers Volkswagen, economic development and manufacturing in Chattanooga and the surrounding area. In the past he also has covered higher education. Mike, a native of Fort Lauderdale, Fla., received a bachelor’s degree in communications from Florida Atlantic University. he worked at the Rome News-Tribune before ...