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THE CANADIAN SECURITIES EXCHANGE – The Exchange for Entrepreneurs | Quarterly Issue No. 4

Just what the doctor ordered: H-Source marketplace network system lowers costs and saves the environment by John Harrington

H

-Source (CSE-HSI) is a company operating a Cloud-based virtual marketplace that is going to save hospitals and surgery centers a whole lot of money. The company was founded in 2013 by president Murray Walden, whose background is in medical device sales. As H-Source Chief Executive John Kupice tells it, as Walden used to go around the different hospitals “the people would say ‘Hey, Dr So-and-so has left the hospital, we have these products; could you see if the next hospital might want it them?’” And that’s how the idea for H-Source was born. Its mission is to maximise efficiencies in the medical supply chain, boost operating margins and support sustainability. Initially, the operation was run as a kind of Craigslist classified advertising service, with a monthly subscription fee.  “He [Walden] had about a million dollars in inventory, and charged $200 a month,” explained Kupice. “It was all very altruistic.” 10 | www.thecse.com

Intrigued and enthused by the idea, Kupice came on board about a year after the company was founded, and suggested changing to a transactionbased model, formulating a business plan and raising some money to grow the business. With his background at Ernst & Young, Kupice was able to provide know-how on what he calls “accounting knowledge, management reporting, integrating different data silos and so on.” Kupice says he feels confident that H-Source can bring sustainability, cost-cutting and communication to the medical community through its online marketplace. Since the company floated on the Canadian Securities Exchange in October, the size of the team has grown to 14, as it beefs up its sales force and support staff. What the team has built is an electronic marketplace that allows medical institutions to sell surplus items to another healthcare organization that wants and needs them.

The CSE Quarterly, Quarter 4, 2015  
The CSE Quarterly, Quarter 4, 2015  

Featured: PUDO - Delivery solutions for consumers. Reports on: H-Source, Global Gardens, Golden Leaf, RIWI, Virtual Armour.

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