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The healthcare industry has been crying out for innovation for a long time, especially when it comes to procurement. Enter Vamstar, the AI-powered global B2B healthcare marketplace that is revolutionizing the sector. In this startup showcase, we take a closer look at the company, its mission, and technology.
The Problem: A Broken Healthcare Marketplace
For a long time, both healthcare buyers (hospitals, health systems) and suppliers (pharmaceutical and medical device manufacturers/digital health companies/service or solution providers) have struggled to find suitable opportunities for developing transactions, resulting in a broken healthcare marketplace. It takes a lot of time and resources to get healthcare technology commercialized, and this is where Vamstar steps in.
The Solution: Aggregating Demand and Providing Real-Time Analytics
Vamstar uses the latest data automation technologies such as NLP, ML, DL to aggregate demand from millions of sources worldwide and provide real-time analytics to shape transactions. The company aggregates over $2tn of global demand in its system from 70+ countries, making it easier for healthcare companies to start closing more deals.
The Platform: Search and Bid-Development Tools
Customers of Vamstar use a range of search and bid-development tools within the platform to find suitable opportunities and finalize transactions quickly. Additionally, buyers (hospital, clinics, etc.) can launch procurement and sourcing programs in the platform and get access to thousands of suppliers in the market for their respective products/services.
The Benefits: Millions of Contracts and Innovative Healthcare Companies
Vamstar has millions of contracts in the platform across countries for suppliers to bid, which help in reducing costs and increasing margins. The company has on-boarded some of the most innovative healthcare companies, has won innovation awards, and is backed by some of the best investors in the world.
Vamstar is changing the face of procurement in the healthcare industry, reducing costs, increasing margins, and creating a more efficient marketplace. The company is entirely focused on the development of its AI-powered system, and with the backing of investors, it is poised to grow and revolutionize procurement on a global scale.
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