MassBio® Announces Rebrand and Expansion of Purchasing Consortium to Offer Greater Value for Members
MassBio Edge to serve as umbrella for B2B preferred vendors and B2C Employee Rewards
March 26, 2019 (CAMBRIDGE, MA) – The Massachusetts Biotechnology Council (MassBio®) today announced a rebrand and expansion of its savings and rewards programs to deliver greater value for members. Now called MassBio Edge, this will encompass B2B preferred vendors, those that have historically operated under the Purchasing Consortium, and the B2C retailers, still referred to as Employee Rewards. As part of this rebrand, MassBio will release a new online platform for members to market discounted services directly to other members, called the Edge Connector. The Edge Connector will also house MassBio Edge preferred vendors.
“Our members today are operating in a different environment than they were 10 years ago and it’s up to us to evolve in lockstep to support their changing needs,” said Jason Cordeiro, Vice President of Consortium Operations, MassBio. “We’re thrilled to bring MassBio Edge and the Edge Connector to our members to drive greater savings and value as they work tirelessly to bring lifesaving therapies to patients.”
The Purchasing Consortium was founded alongside MassBio in 1985 with the goal of aggregating the purchasing power of member companies to take advantage of competitive discounts and premier customer service. In the last 10 years, the Purchasing Consortium has grown exponentially, with 75% of members now participating in the program, resulting in more than $75 million in savings each year. MassBio Edge will encompass those preferred B2B partners from the Purchasing Consortium, along with the B2C vendors under Employee Rewards, who offer over 125 individual employee discounts to members.
“Drug discovery is a capital-intensive business and the more companies are able to save on lab supplies, gases and other materials, the more money they’re able to pour back into R&D for future innovations,” said David Lucchino, Chair of the MassBio Board and President & CEO of Frequency Therapeutics. “The Purchasing Consortium has been instrumental in helping life sciences companies, especially those in early stages, find new efficiencies to do more with less – and ultimately to help patients in need.”
To support the growing and diverse needs of members, MassBio recently added several preferred partners, including Flight Centre Travel Group (travel management), LabCloud (e-procurement platform), Eppendorf (pipette calibration), and Crown Uniform & Linen (laundered lab coats). Under Cordeiro’s leadership, Craig Carew, formerly Manager of Member Benefits, will serve as Director of Strategic Suppliers to ensure seamless continuity of operations and ability to scale. Steve Powell will also join the team as Director of Business Development.
To learn more about MassBio Edge, visit https://www.massbio.org/purchasing-and-rewards.
For media inquiries, contact Jennifer Nason.