Blood bank Company Vita 34 Achieves over 60% Cost Reduction

In the German-speaking regions, Vita 34 is the oldest and most experienced umbilical cord blood bank for self care. Dr. Eberhard Lampeter, the funder, a pioneer in the field of umbilical cord blood storage, is heading the company. For Vita 34, the company’s outstanding position is first and foremost a challenge as well as a commitment: therefore the organisation works to ensure that the storage of the umbilical cord blood, rich in stem cells, becomes generally known and even the standard in the medium term. In order to invest more money in research and projects, Vita 34 commissioned Torsten Schütze from Expense Reduction Analyst to optimise spending in the category of technical gases. T. Schütze invited expert Reiner Schulze to join the project.

The company spent so far an annual 6-figure sum for technical gases only purchased from a single supplier. Expense Reduction Analysts invited potential suppliers to respond to a call for tender in order to get the best deal possible for their client. The tender criteria were quality, such as technical standards and gas purity, availability of frozen liquid nitrogen, reliability and flexibility. All the offers received were significantly cheaper – over 50% - than the current price.

The incumbent supplier was given the opportunity to adapt to the best offer. By doing this, Expense Reduction Analysts achieved savings of a little over 60%, without having to change suppliers.

Jörg Ulbrich, CFO at Vita 34, says: “We did not expect the savings found by Expense Reduction Analysts to be that high. Additionally we have received professional support every step of the way.” 

DOWNLOAD THE CASE STUDY HERE (PDF)

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