Press Release
April 21, 2010, 8:15 a.m.
YUCAIPA, Calif., Apr 21, 2010 (GlobeNewswire via COMTEX) -- Ingen Technologies, Inc. (Pink Sheets:IGNT), an ISO Certified medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 billion in the U.S. and $8 billion globally, today announced a new Group Purchasing Organization ("GPO") contract with MediGroup Physician Services.
Missouri-based MediGroup Physician Services is the nation's largest GPO for the alternate site marketplace, which consists of specialty physicians and surgery centers. MediGroup provides its customers with the purchasing power that is traditionally reserved for hospitals, while enabling participating manufacturers and distributors to deliver products and services to a focused demographic.
A Group Purchasing Organization (GPO) is an entity that helps health care providers - such as hospitals, nursing homes and home health agencies - realize cost-savings and efficiencies by aggregating purchasing volume and using that leverage to negotiate discounts with manufacturers, distributors and other vendors. There are more than 600 organizations in the United States that participate in some form of group purchasing. About 30 of the 600 are true-GPOs that negotiate sizeable contracts for their members. The remaining organizations may offer their members access to larger groups' contracts and negotiate agreements with regional vendors for some services.
MediGroup was also profiled as of the leading market participants in GPO sector in Knowledge Source's report, titled "Group Purchasing Organizations (GPO) Market Overview," which examined the industry's competitive landscape.
MediGroup Website: http://www.medigroup.com