MAPLE GROVE, Minn. -- SterilMed and The Scope Exchange have reached an agreement to merge. The merger is part of SterilMed and The Scope Exchanges strategy to help healthcare providers conserve their resources by extending the life of medical devices, instruments, and equipment. Combining the two companies expertise in the repair and reprocessing of medical devices will provide customers with a comprehensive single-source supplier.
Brian Sullivan, SterilMeds CEO and president, commented We are excited about the opportunity our two companies will have to provide healthcare facilities with unique and superior services. We help our customers save money by reducing their expenditures for new medical devices, instruments and equipment. These savings can be redirected to other important investments in their employees and facilities.
The Scope Exchange has built an extensive technical infrastructure and service capacity over the last 10 years, said Brian Newton, CEO and president of The Scope Exchange. We saw a great opportunity to combine our capabilities with SterilMeds sales and service network. The Scope Exchange has a strong presence in the flexible and rigid endoscope service and is the market leader in providing quality pre-owned endoscopes and support equipment. With our shared focus of quality and customer service, we are confident we can become an even larger presence in the marketplace.
The merged expertise, combined with SterilMeds broad market presence, will further strengthen the breadth of services provided, including industry leading technical capabilities and showcase repair facilities. The newly formed company is now one of the top five repair companies in the country, and the only one that can offer the benefits of an integrated reprocessing and repair service approach.
SterilMed offers services designed to help healthcare providers lower their medical device and equipment costs by maximizing the life of single-use medical devices, surgical instruments, power tools, endoscopes and video equipment. This allows healthcare facilities to free up critical financial resources through better device and equipment utilization while maintaining the highest levels of patient safety. In 2006, SterilMed saved healthcare providers over $60 million and diverted more than 600 tons of medical waste from landfills.
The Scope Exchange, founded in 1997, has grown to be one of the leading equipment repair service providers and pre-owned endoscope equipment specialists. They have earned a reputation for high quality and extensive technical capabilities. Their facilities in Greensboro, North Carolina are state-of-the-art and include repair labs for flexible and rigid endoscopes, power equipment, video cameras, and surgical instrument systems.