Northern Michigan Hospital issued the following announcement on June 29.
McLaren Health Care announced today that it has partnered with Premier, Inc., a leading healthcare improvement company, to acquire a minority stake in Prestige Ameritech, the largest domestic manufacturer of PPE products, including N95 respirators and surgical masks.
In addition to the equity investment, McLaren will purchase at least 15 percent of all respirators and masks they use annually from Prestige Ameritech at competitive prices for a minimum three-year term. After three years, contracts will be reviewed and renegotiated by Premier to ensure market competitive prices. McLaren will have the option to renew its contract for an additional three-year term.
PPE products critical for the daily operations of health systems are overwhelmingly sourced overseas, with approximately 80 percent coming from China and Southeast Asia. The risks of this overreliance on Asia came into sharp focus as COVID-19 swept across the globe and these nations closed borders and prevented U.S. access to supplies, triggering widespread shortages of PPE needed to protect healthcare workers and patients. In contrast, Prestige Ameritech represents a domestic supply chain, with production completed in the United States. Prestige also sells 100 percent of its products to U.S. customers.
Original source can be found here.
Source: Northern Michigan Hospital
Alerts Sign-up