Palantir and Concordance Announce Partnership to Power First, Fully Integrated Medical Supply Chain Ecosystem
October 03 2022 - 6:59AM
Business Wire
Palantir Technologies Inc. (NYSE: PLTR, “Palantir”), a leading
builder of operating systems for the modern enterprise, and
Concordance Healthcare Solutions LLC, one of the largest,
independent healthcare distributors in the U.S., today announced a
partnership to power the first, fully integrated medical supply
chain ecosystem – bringing together inventory and supply chain data
from manufacturers, suppliers, distributors, and providers into one
cohesive, real-time system.
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One of the biggest challenges in healthcare today lies within
supply chain, and the root cause is the management of data
associated with critical supply chain workflows. COVID-19
exacerbated these long-standing issues, causing further shortages,
back orders, and extreme spikes in demand for certain products –
highlighting the lack of visibility between healthcare supply chain
partners. Today, providers still face unpredictable availability
and lead times for essential, life-saving supplies while
manufacturers and distributors face unknown provider demand
planning. Recognizing the industry is in a position to adopt new
solutions to overcome this enduring obstacle, Palantir and
Concordance have come together to build an ecosystem that can
handle diverse data sets and disparate enterprise resource planning
(ERP) tools, regardless of compatibility, to create one agnostic
point of reference. Powered by Palantir Foundry, the new ecosystem
is accessible to any healthcare manufacturer, supplier,
distributor, provider, or government public health agency with a
license.
Those utilizing this new supply chain platform will have access
to the ecosystem’s live inventory data and supply chain signals
within an actionable interface – meaning complete line of sight and
proactive signals into supply chain information at each stage, from
production, to point-of-care. Palantir’s world-leading information
security also means that data is only viewable and actionable by
those with the appropriate credentials. Issues like product back
orders and substitutions, that historically could take hours of
resources away from frontline staff, can be remedied within
minutes. Ultimately, this improves patient care and reduces the
burden on healthcare providers.
“The launch of this ecosystem represents a vision to
fundamentally change the medical supply chain at its core, and not
just for Concordance, but for manufacturers, suppliers,
distributors and providers across the board. Palantir has proven to
be the perfect partner to make this vision a reality,” said Lisa
Hohman, Concordance CEO. “There is no doubt that healthcare
providers lacking certain medical supplies and access to the
appropriate data to replenish those supplies put patients’ lives at
risk, and we are excited to be on a mission to change that. By
enhancing the visibility throughout the supply chain for all
partners, the ecosystem allows manufacturers, suppliers, and
distributors to better prepare for what providers will need versus
react to what providers need when it is oftentimes too late.”
“Ensuring doctors, nurses, and other essential staff have the
much needed supplies to provide the optimal care for every patient
is exactly the type of critical problem that Foundry was built to
solve,” said Shyam Sankar, Palantir COO. “We are thrilled to be on
this journey with Concordance to bring the power of data and
operations together to grow this new ecosystem for the greater
good.”
Access to the ecosystem requires a license and already consists
of active members within the manufacturer and provider communities.
Today, the ecosystem development is focused primarily on the
foundational supply chain challenges that exist in the industry –
enhancing visibility upstream and downstream to bring real-time
information and data to users allowing for faster, more informed
decisions. Looking forward, we aim to add additional workflows and
logic to the ecosystem to dig deeper into the healthcare supply
chain challenges that oftentimes expand beyond supply constraints.
Palantir’s software is currently deployed in all areas of the
healthcare value chain and beyond, including life sciences, pharma,
biotech, clinical research, and healthcare operations to help power
better decisions to the world’s toughest problems.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional
information is available at https://www.palantir.com.
About Concordance Healthcare Solutions
Concordance Healthcare Solutions, an independent healthcare
distributor, headquartered in Tiffin, Ohio, is built on over 175
years of combined industry experience through the merger of three
of the nation’s premier healthcare distributors. Concordance spans
the U.S. market with twenty distribution centers licensed in
forty-eight states. Concordance delivers dynamic, dependable
service to the entire care continuum including acute care,
community health, government, home care, hospice, laboratory, long
term care, primary care and surgery centers. Concordance has
experts dedicated to emergency preparedness, 3PL and reverse
logistics, in addition to offering comprehensive support for
equipment, remodeling and construction project needs. To learn
more, please visit www.concordancehealthcare.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
Palantir’s expectations regarding the expected benefits of the
partnership and its software platforms. Forward-looking statements
are inherently subject to risks and uncertainties, some of which
cannot be predicted or quantified. Forward-looking statements are
based on information available at the time those statements are
made and were based on current expectations as well as the beliefs
and assumptions of management as of that time with respect to
future events. These statements are subject to risks and
uncertainties, many of which involve factors or circumstances that
are beyond Palantir's control. These risks and uncertainties
include Palantir's ability to meet the unique needs of its
customers; the failure of its platforms to satisfy its customers or
perform as desired; the frequency or severity of any software and
implementation errors; its platforms’ reliability; and its
customers’ ability to modify or terminate their contracts.
Additional information regarding these and other risks and
uncertainties is included in the filings Palantir makes with the
Securities and Exchange Commission from time to time. Except as
required by law, Palantir does not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221003005250/en/
Lisa Gordon media@palantir.com
Gina Marchese gmarchese@concordancehs.com
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