STORY INLINE POST
Q: What makes MedGlobal the most technologically advanced online marketplace for the medical industry?
TG: We started in 2009 as a medical equipment distributor in Mexico and observed that Latin America had many unleveraged capabilities in healthcare caused by the lack of technology and infrastructure. These gaps were present at all levels: from the physician's office to major hospitals. We wanted to solve a problem and support growth in the Latin American marketplace, so we created the first nonmonetized platform to connect manufacturers and distributors interested in the Latin American market with buyers and other leads. The healthcare industry in Latin America is one of the largest in the world, having four of the top 10 emerging markets.
As we expanded, we used the feedback from focus groups and client interviews to create what is now MedGlobal Group: an international platform that offers multiple languages, currencies and shipping options. MedGlobal Group's platform was launched in May 2022 and has reached over 100 countries.
We also launched Insights, our fully interactive digital magazine, to generate awareness and share information about the healthcare industry. Besides the operators of our platform, we are a technology company and we design and build our platforms and use technology to create new ways to promote the healthcare industry.
Q: Is MedGlobal a B2C or a B2B service?
TG: We are both a B2B and B2C service for new and used equipment and products. Our goal is to connect equipment with hospitals or clinics in Latin America according to their budget and needs. An average private hospital in Mexico has 15 to 20 beds, so investment in equipment is not always possible without other acquisition schemes. Medical devices often have long lifespans, so we pair used equipment with hospitals or clinics in Latin America that could benefit from them.
Used equipment is also often donated to other facilities. Our goal is to avoid wasting medical products that can be used to underserved patient populations.
Q: With the industry experiencing a boom in medical device development and commercialization, how does MedGlobal select the products it offers?
PS: We participate in expos to observe the latest trends and get acquainted with vendors we research to determine if they are reliable distributors and manufacturers. In Mexico, for example, we meet many clients at Expomed and MedicalExpo.
We also do due diligence on those who advertise on our website and have different tools to weed out those who are selling illegal or unreliable equipment. We have a Verified Vendor-free tool. Distributors must submit tax and legal documentation, plus letters of recommendation from clients; all documentation gets reviewed, and each firm must commit to our standard of operation. Our MGG Score tool uses an algorithm to measure the performance of our users and provides a score to demonstrate their positive use of the platform. The buyer can use this score to choose a vendor.
The health industry is well connected, so everyone knows each other. Thus, we want to provide the best service to maintain our good reputation in the industry. We are connected with our clients and use their feedback to help us identify improvements to our services. Quality and security are among the core principles of our new platform because trust takes years to build but seconds to lose. With our technology, we can offer tools that allow clients to search the site and find listings with a balanced quality and price. Our features have been a great tool for those with limited budgets in rural areas looking for quality products that meet their financial needs. The site does not only match sellers with buyers; it can also match manufacturers with buyers and distributors.
TG: We are creating opportunities and synergies for healthcare systems that have been challenged financially, such as Mexico. We are planning to develop a tool on MedGlobalGroup for group purchasing if multiple hospitals want to ally to buy equipment from a single distributor allowing for economies of scale. Some economies have a large market surplus that could end up unused; however, in good condition, so we are trying to ensure that medical equipment and products get used throughout their entire life cycle and provide access to parts. We also ensure that our companies follow socially responsible standards and practices.
Q: Why was it important for MedGlobal to develop the digital magazine Insights, and what was its reception?
TG: We created a unique, fully interactive digital magazine for the industry that allows users to read articles and interact with videos, links, photos, information and more. Insights offers unprecedented advertising opportunities, allowing companies to do direct lead generation on an article or advertisement. Insights also allow users to ask the company direct questions about the article, add attachments, and post videos and animations.
With our technology, we have few limitations on design, allowing us to provide content a reader wants to consume. We designed our platforms to meet today's readers and consumers and have combined our presence with social media. On LinkedIn, for example, we have reached around 35,000 people. Because we are the technology group, we can provide our clients with a better product at a lower cost. Insights generates a full circle of marketing exposure to our over 22,000 subscribers.
Q: How does the solution MGG Coach complement MedGlobal services?
TG: Our MGG Coach provides how-to articles, quality, and safety tips and tricks to help those using the site get the most out of it based on their needs. Every week, we add a new article to showcase what we have to offer to our buyers and sellers. MedGlobal Group is client-centric; we provide services to help all clients improve their presence in the healthcare equipment industry.
MedGlobal Group is an online platform for vendors and buyers of medical equipment in Latin America. It is available in multiple languages and offers several currencies and shipping options.