B2B Payments

B2B Vendor Global Healthcare Exchange Buying Vendormate

Global Healthcare Exchange (GHX) has agreed to buy Atlanta’s Vendormate for an unspecified amount. GHX handles business network connectivity and payments issues for some 4,000 hospitals and 18,000 provider facilities, which the firm says repreasents “more than 80 percent” of U.S. hospitals and their U.S. suppliers. Vendormate brings vendor-credentialing capabilities to the GHX supply chain portfolio.

GHX expects the acquisition of Vendormate to “add vendor relationship management capabilities to the GHX procure-to-pay solutions portfolio, help healthcare providers better manage the process of who they do business with, including vendor onboarding, business associate management, representative credentialing solutions, vendor identification for sourcing events and managing legal contracts within the healthcare system,” said a Spend Matters story.

The story also gave a range of expected revenue. “GHX will add about 100 employees for a total of approximately 600. Combined revenue is not disclosed, but with both firms having recurring revenue streams from software subscriptions and similar fees – not services – presumably the combined entity falls in the $100 million to $150 million range,” the story noted.

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