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MAGNET Selects DOTmed.com to Assist Members in Sale of Used Medical Equipment and Idle Assets
Date:11/5/2009

NEW YORK, Nov. 5 /PRNewswire/ -- DOTmed, the leading public medical equipment marketplace, and the leader in online medical equipment auctions, today announced that they have been selected by the Mid-Atlantic Group Network of Shared Services (MAGNET) to assist members in the sale of their used medical equipment and idle assets. MAGNET was created to develop contracts on behalf of its healthcare provider members in the niche market of capital equipment.

Derwood B. Dunbar, Jr., President and Chief Executive Officer of MAGNET commented that central to their decision to work with DOTmed is "their reputation for integrity and transparency in running online auctions which was very important to us. Their commitment to repurposing equipment instead of liquidating helped further to seal the deal. Repurposing finds buyers who want the unit, resulting in a higher sale price, and that of course is good for our members."

With more than 15,000 unique visitors a day, DOTmed has the critical mass that makes online auctions work.

DOTmed President Philip Jacobus said that, "MAGNET and a number of other groups and providers have come to recognize that DOTmed has a full range of capabilities beyond getting the equipment sold at the highest price, we are there end-to-end eliminating multiple hassles for customers. Our personnel know medical equipment -- how to appraise it, negotiate for the best price, handle it and ship it and take care of everything including detailed export paperwork."

In a Full-Service Auction, DOTmed's Auction Team assists with:

  • Evaluating the asset
  • Inventorying and photographing the asset
  • Posting the auction online and recommending pricing
  • Negotiating with bidders
  • Assisting with the de-installation, crating, shipping, insurance and export paperwork if necessary.

DOTmed's role in the process extends through payment collection where the company received funds the winning bidder and pays partners before the equipment leaves their facility. In addition DOTmed offers their Clean Sweep Auction Program(TM), which is designed to remove multiple idle assets from partner facilities. DOTmed will take both salable and non-salable items with this service.

Standard commissions are among the most competitive in the industry, and MAGNET has contracted to get a 10% discount off those rates for its members.

About DOTmed

DOTmed is the leading public medical equipment marketplace, and the leader in online medical equipment auctions with more than 10 years experience. With more than 115,000 registered users, DOTmed is revolutionizing the medical equipment marketplace through innovation, access and programs that serve buyers and sellers alike. Visit us at www.dotmed.com

About MAGNET

Founded during the 1979 Middle Atlantic Health Congress, Mid-Atlantic Group Network of Shared Services (MAGNET) was created to develop contracts on behalf of its members in the niche market of capital equipment.

MAGNET is one of the oldest, largest, and most experienced shared service organizations in the country. Today, MAGNET serves approximately 11,000 providers, including hospitals, alternate care facilities, and physician practices and clinics with a contract portfolio that includes equipment, services, commodities and the newly emerging area of niche/boutique (innovative and cost-reducing) products.

SOURCE DOTmed


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SOURCE DOTmed
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