March 13, 2018

TractManager, Inc. Takes Significant Equity Position in BidMed

, the healthcare industry’s largest supplier of strategic
sourcing and contract lifecycle management (CLM) solutions, has taken a
significant equity position in BidMed,
a market leader in the acquisition and disposition of healthcare
equipment on the secondary market.

BidMed provides current fair-market values on pre-owned capital
equipment and medical assets. The company’s proprietary web-based
inventory system, auction platform, and supporting mobile app enable
clients to accurately inventory, reconcile, and sell assets with ease
and efficiency. BidMed has worked with more than 450 clients, including
hospitals, surgery centers, transition/equipment planning companies,
financial lending institutions, and equipment manufacturers, ensuring
that they receive the full value for their capital assets.

“This investment and exclusive partnership with BidMed dynamically
extends our MD Buyline strategic sourcing solutions,” said Trace
Devanny, chief executive officer of TractManager. “BidMed is an
innovative market maker, enabling hospitals to stretch their capital
budgets by getting a fair market value for their used equipment. With
options to reinvest those dollars in new capital acquisitions or
warrantied, refurbished equipment on the secondary market, hospitals
working with BidMed now have both leverage and choice. Whether buyers or
sellers, our clients have an efficient way to manage their capital
lifecycle with BidMed.”

Patrick Kelly, chief executive officer and co-founder of BidMed, added,
“This is a great partnership for BidMed, TractManager, and the clients
of both companies. There are great synergies between our cultures,
solutions, and commitments to serving clients. We are agile and
entrepreneurial at heart, and eager to drive value for TractManager’s
broad client base.”

About BidMed

BidMed LLC is a global marketplace for selling, buying, trading, and
renting medical equipment. BidMed sources surplus, inactive, and retired
equipment from healthcare facilities around the country, and partners
with approved vendors to refurbish and rewarrant the equipment. Powered
by innovative technology and proprietary data, BidMed’s services include
medical asset valuations, inventory reconciliations, and liquidations.
The company was founded in 2012.

About TractManager

TractManager’s healthcare-specific application suite serves three out of
five U.S. hospitals. Serving the healthcare industry with integrity for
more than 30 years, TractManager is the first-mover in strategic
sourcing and enterprise contract lifecycle management. Our advisory
services wrap around each solution component, optimizing purchasing and
service category management, while supporting best-practice contracting
processes. The company’s strategic sourcing division, MD Buyline,
includes Hayes, the industry leader in providing clinically focused,
evidence-based research and analysis to health plans, insurers,
hospitals, healthcare systems, ACOs and government agencies, and
MedApproved, a new product approval workflow solution. The MediTract
division supports hospitals and healthcare facilities with an enterprise
contract lifecycle solution and includes Newport Credentialing
Solutions. Together, we are dedicated to helping our clients reduce
their capital and non-labor costs, and conform their contract, policy,
and procedure management to meet regulatory requirements.

About Arsenal Capital Partners

Formed in 2000, Arsenal Capital Partners is a leading New York-based
private equity firm that invests in specialty industrial and healthcare
companies. Arsenal targets businesses with the potential for further
value creation by working closely with management to accelerate growth
and leverage the firm’s operational improvement capabilities. Since
inception, Arsenal has raised institutional equity investment funds
totaling $3 billion. Arsenal acquired TractManager in 2013.

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