Healthcare supply chain gets a boost with Vamstar’s AI-driven platform

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Vamstar has taken on a rather challenging job since its launch in 2019: To be the healthcare industry’s go-to supply chain management app for some 86,000 medical facilities and hundreds of thousands of different items, ranging from cotton swabs to heart defibrillators.

The Los Angeles, California-based company announced today that its AI-enabled, software-as-a-service (SaaS)-based global sourcing and procurement platform for medical supplies and pharmaceuticals will be expanding its already widespread network of hospitals, clinics and suppliers, thanks to a $9.5 million series A funding round. 

Vamstar connects both buyers and suppliers electronically to automate transaction and process flow across the supply chain on a global scale. The platform is used by businesses and organizations to connect suppliers, such as pharmaceuticals, consumables, medical devices and digital technology companies, with public and private buyers, such as hospitals, laboratories, health insurances, clinics, corporations and universities or group purchasing organizations (GPOs).

Not only does the platform enable buyers to search for and find the best suppliers for each item they need, but it also enables the business people on both sides of every deal to negotiate pricing and delivery times. 

AI, ML important for running exchange platform

CEO Praful Mehta told VentureBeat that Vamstar will use the investment to speed up its product development plans, which include deploying artificial intelligence (AI) to enhance its consumables and generics exchange platform, improving data quality for f...

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