Pandion Optimization Alliance Acquires New Source; Strengthens Strategic Position in Healthcare Group Purchasing
Pandion Optimization Alliance, a rapidly growing player in the Group Purchasing Organization (GPO) space, is acquiring New Source GPO to further bolster their strategic position in the market.
Atlanta-based New Source GPO brings with them a reputation of dedicated service to their 12,000+ membership base in the Southeast as well as around the country. New Source Founder and CEO, Jacqueline Byrum, saw an opportunity to build a niche service for a vastly underserved healthcare market, small surgery centers and clinics. Specializing in a market overlooked by larger competitors set the stage for both profitability and growth.
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“When I founded New Source in 2003, my vision was to bring unique value to the ambulatory care community. It’s been gratifying to see that thrive over the last ten plus years. This next step is part of a natural evolution for us”
“When I founded New Source in 2003, my vision was to bring unique value to the ambulatory care community. It’s been gratifying to see that thrive over the last ten plus years. This next step is part of a natural evolution for us,” said Jacqueline Byrum, now Vice President of Pandion Optimization Alliance and President of the New Source Division. “Pandion shares a similar marketplace mission and ambition as New Source, and they are hungry to make a difference in healthcare and beyond. I’m thrilled about the vision Pandion has for strategic growth and am eager to continue aggressively growing the New Source division within Pandion.”
The Atlanta-based New Source staff brings with them over three decades of industry knowledge and experience. Byrum will continue as President to oversee operations in her division, bringing new resources for growth and access to larger contract portfolios and greater savings.
“It goes without saying: one of our key initiatives at Pandion for 2021 and beyond is sustained growth,” said Travis Heider, President & CEO of Pandion. “The addition of New Source to the Pandion family of businesses is a strategic maneuver to inorganically add over $100 million in sales volume to our portfolio while bringing on opportunities for our team to organically grow Pandion by introducing to New Source and their customers efficiencies, savings, and expanded contract opportunities that we have been offering our members for 90 years.”
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The addition of New Source is not only a sales volume play, but also allows Pandion to bolster specific classes of trade where they are seeking robust traction. Travis Heider states, “I am thrilled about their expertise in the physician office, surgery center, and other alternate site markets as well as their breadth of members in an area that will see continued growth.”
“New Source has done a wonderful job in targeting specific markets such as Physicians’ Offices and Surgical Centers, which are key classes of trade for our strategic plans at present and in the future,” said Dorothy Smith, Vice President of Corporate Development. “Growing these areas of our membership, along with key digital health partnerships, a recent seed round investment into the digital health marketplace Marché Health, and our business-to-consumer platform in the e-commerce space made this strategic investment into New Source very attractive.”
Pandion brings together thousands of organizations and facilities spanning all 50 states to leverage their group purchasing power for maximum cost savings, enhanced operational efficiencies, and shared knowledge and experience. Pandion is a certified sponsor of healthcare purchasing giant, Premier, Inc.
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