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Plexxus, the company created by 12 hospitals including University Health Network, has successfully completed phase one of implementation, which was focused on improving our supply purchasing and costs across all of our hospital partners. The transition has gone smoothly with no disruption to service to the member hospitals. In addition, I'm very happy to tell you that Plexxus has exceeded the savings targets in their first year of operation, which is an advantage for all member hospitals.
Our goal in joining Plexxus, was to reduce operating costs by achieving economies of scale with partner hospitals, investing in information technology and implementing best practices for supply service levels. The money we save will be invested in improved access, innovation and quality of care. Plexxus has delivered on all of these business priorities and remains committed to the objectives in the next phases of its business plan. I am committed to our membership and would like to thank everyone who has worked so hard to make this transition smooth and beneficial for all hospitals including University Health Network.
Member hospitals are now working with Plexxus to plan the next phase, which will include the implementation of new technology and the provision of transactional services in Finance, Payroll and Human Resources. In the coming months, Plexxus and the member hospitals, will put together joint functional teams in Finance, IT, Payroll and Human Resources to fully develop the Phase 2 plan.
I will keep you updated on this project as it moves forward. Additional information may be found at www.plexxus.ca or you can email email@example.com.