MonarchFx, part of Tompkins International, expands into the healthcare industry
Due to increasing regulations, supply chain inefficiencies, product security concerns, and healthcare being crippled by rising costs, MonarchFx has created MonarchFh to respond to the demands of the new healthcare.
MonarchFx, a business unit of Tompkins International, has announced the launch of a healthcare division, MonarchFh, under the leadership of Benjamin Patipa, MD., newly appointed Vice President of Healthcare Strategy. Due to increasing regulations, supply chain inefficiencies, product security concerns, and healthcare being crippled by rising costs, MonarchFx has created MonarchFh to respond to the demands of the new healthcare.
Healthcare spending in the U.S. will reach $4.8 trillion by 2021. The medical supplies market has been growing exponentially and is expected to reach $132 billion by 2022. More than 25% of U.S. sales are occurring in e-commerce, while costs have quadrupled forcing healthcare businesses to start seeking areas where they can grow their bottom line. One such area is the supply chain. As the healthcare industry traditionally enjoyed healthy margins, the changing landscape puts those margins at risk. It is now imperative to integrate the whole healthcare supply chain and no longer work in silos. “Few industries are experiencing more disruption than healthcare. MonarchFh is perfectly positioned to help this sector build customer centric fulfillment systems,” said Jim Tompkins, CEO of MonarchFx.
Ben Patipa, as a doctor and business leader, brings more than 30 plus years of corporate leadership experience for public and private companies in healthcare, brand development, insurance, financial services, technology, and real estate investment. His past professional experience includes being CEO at Tenet Healthcare Corp., the nation’s second largest hospital company, where he led their accountable care organization and healthcare reform activities; Assistant President at Hearx Ltd., where he co-engineered the company’s restructuring and co-led facilities management and supply chain; President/CEO at Bravo! Brands, Inc. where he led business strategy and re-energized operations; and EVP at eHDL/Healthnet Data Link where he was responsible for all functional aspects of the Physician Practice Management and EDI business. Patipa also pioneered successful innovative ventures including Weight For Me, the nation’s first and largest Pediatric and Adolescent Weight Control centers and MedMark Group, the nation’s first medically owned and operated healthcare marketing and advertising agency. “Patipa’s expertise in healthcare makes him the perfect addition to our business model,” stated Gene Tyndall, President of MonarchFx.
About MonarchFx
MonarchFx is an alliance of leading logistics service providers, supply chain technology providers, and partners, managed by experienced executives, that provides world-class logistics and fulfillment solutions through an innovative logistics ecosystem. It serves retailers, brands, and other sellers with multiple fulfillment channels, providing speed, quality, and efficiency, operating with distributed logistics centers for nationwide coverage, allowing for same-day delivery. It is high-service, facilitated by advanced robotics, analytics, and artificial intelligence methods for inventory allocation.
About Tompkins International:
A supply chain consulting and implementation firm that maximizes supply chain performance and value creation. We enable clients to be more profitable and valuable, while also becoming more agile, flexible, and adaptive to the marketplace. Tompkins collaborates with client teams to develop improved operations strategies, supply chain planning, and execution across all the Mega Processes of supply chains (PLAN-BUY-MAKE-MOVE-DISTRIBUTE-SELL). Tompkins is headquartered in Raleigh, NC and has offices throughout North America and in Europe and Asia.
