August 24, 2021 – Panda Health Inc., a marketplace that connects buyers and sellers of digital health technologies, has entered a new phase of growth after recent capital investments by a group of healthcare stakeholders led by Vizient, Inc. (Irving, TX).
Panda says it will expand its inventory across a broader range of digital health categories featuring best-in-class suppliers. The capital investment will also fund development of additional technology, data infrastructure, and operational scale to enhance marketplace efficiency and insights for Panda’s buyers and suppliers.
Additionally, Panda received an agreement with Vizient to offer its platform of digital health solutions at contracted savings to Vizient’s member hospitals, effective immediately.
Panda was established in Q3 2020 by founding health systems Gundersen Health System, CentraCare, ThedaCare, and development partner Fitzroy Health.
Its platform is designed to help healthcare organizations execute on their digital health strategy as a trusted partner to source, procure, and deploy digital health solutions economically, safely, and at speed.
Through its marketplace, Panda vets and assesses digital health technologies across dozens of different categories and invites suppliers that meet Panda’s rigorous functional, technical, and service requirements to participate in the marketplace.
Health systems using the Panda marketplace shop and procure technologies that meet their specific needs. Panda assists with the selection, implementation, and ongoing contract management.
The company says that by offering a catalog of standardized supplier contracts and support services, Panda is able to deliver on its commitment to significantly reduce vendor selection and procurement cycle times, usually by more than half.