Medical Equipment eMarketplace finds niche in enabling technology transfer to international locations

Newport Beach 18 April 2001SoluMed.com is an established Internet company which has been successfully operating a medical equipment eMarketplace, Medical EquipNet, for international trade and has over five million hits to date. SoluMed's focus on facilitating international sales, a deliberate strategy of the company since its founding, constitutes a crucial point of differentiation from more recent entrants who are attempting to address the domestic United States medical equipment and supplies market, which is estimated at $62 billion out of the $159 billion worldwide.

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Specifically the company is targeting the export markets, moving equipment into and out of the United States and between other countries, which is estimated to be a $46 billion market. Supply chain inefficiencies, high market fragmentation, a maturing U.S. market, and the industry movement toward international regulation standardisation is fuelling both interest and growth in overseas markets for United States as well as foreign manufacturers.

"The idea was an outgrowth of the first hand experience I had 15 years ago in selling a Computed Tomography (CT) Scanner to what was considered at that time a rural community in Victorville, California. A few months after the sale, I received a copy of a letter written by the father of a boy who was the victim of a hit and run accident late one night. The father had sent the letter to General Electric Headquarters describing how fortunate the family was to have a CT Scanner in Victorville and that without the CT his son may not have made it. It is my hope that SoluMed.com will enable greater access to medical technology for both rural America and other countries", stated Cynthia Schuster, President and Founder of SoluMed.

SoluMed.com just introduced a novel user interface and now provides two alternatives for selling medical equipment through eMarketplace, Medical EquipNet. The company continues to offer a subscription model whereby users pay monthly fees to advertise equipment sales. Alternatively, users may choose the new transaction model whereby listings are free and users pay a fee at the time of the equipment sales transaction.

SoluMed.com is based in Newport Beach, California. The founder, Cynthia Schuster, has worked in sales and marketing management for GE Medical Systems, BOC Healthcare, and Toshiba America Medical Systems. Cynthia Schuster is a graduate of the University of Notre Dame and Harvard Business School. In addition, she is a Member of the American Infomatics Association's Internet Working Group and the Harvard Business School Healthcare Alumni Association.


Leslie Versweyveld

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