How we got started
Medinas is a Berkeley-based healthcare tech startup, founded in the fall of 2017. Berkeley was founded by serial entrepreneur Chloe Alpert (CEO), network marketplace and serverless engineering expert Tim Growney (CTO), and Jesse Avshalomov (CMO), one of leading growth experts in the country. Medinas currently has over 20 employees and contractors working around the world. Medinas’s Berkeley HQ is located in the Berkeley Skydeck offices at 2150 Shattuck Avenue.
Solving the problem of hospital asset disposition
Medinas creates tools to help hospitals manage asset disposition. Hospitals utilize over 9,000 different types of medical equipment — everything ranging from defibrillators to MRI machines. When hospitals remove any of that equipment from service, they often don’t have a good plan for what to do with it, and the equipment ends up gathering dust and taking up space in hospital store-rooms.
There are no existing technological solutions that help hospitals manage asset disposition. Legacy companies provide out-dated and confusing listing sites (Dotmed) or predatory and opaque auction services (Centurion). But despite the secondary medical equipment market being an over $40 billion industry, none of the existing companies are transparent and easy to use. And more importantly, none of them actually provide the tools hospitals need to make a disposition decision.
In order to decide whether to sell equipment, hospitals first need to know
- What assets they have in storage
- What those assets are worth, and
- Whether those assets are needed elsewhere within their network.
In other words, they need inventory management tools, pricing tools, and internal redeployment tools. All of which Medinas has created.
Once hospitals utilize those disposition decision-making tools and conclude that assets should be sold, they then require tools to help them make the sales process effortless. Here, Medinas steps in with the Medinas Marketplace (think an Amazon Marketplace for pre-owned medical equipment), paired with offer management and logistics services. Combined, the marketplace and seller management tools let hospitals clear out constrained storage space, find trusted buyers, manage multiple offers, receive payment, manage shipping, and complete the sale. Medinas acts as a trust layer between buyers and sellers, guaranteeing each transaction for both buyers and sellers and making sure that money only changes hands once both sides are satisfied.
In short, Medinas’s suite of software tools helps hospitals figure out what they want to do with their out-of-service assets. And if that means selling the assets, Medinas makes that process easy, transparent and profitable.
Funding and Awards
Since its founding, Medinas has raised over $5 million in seed funding. It won the worldwide $1 Million creator award in January 2019, was named a 2019 Berkeley Visionary company by the Berkeley Chamber of Commerce, and was recently named a finalist for the East Bay Innovator Award. In the past year, Medinas has saved hospitals over $50 million in sales equivalency, has reduced greenhouse gas emissions from equipment manufacturing by 60% for each piece of equipment sold on the Marketplace, and has diverted neary 40,000 pounds of hazardous electronic waste from landfills.