Strategic Alliance between Liquidity Services and Biocom California
Liquidity Services Partners with Biocom California
Maryland's Liquidity Services, renowned for operating the expansive B2B e-commerce platform for surplus asset sales, is forging a strategic partnership with Biocom California, a leading association catering to over 1,800 life science members. This collaboration is set to enrich the Core by Biocom California savings portfolio, offering member companies the chance to optimize capital and innovate through a refined process for purchasing and liquidating surplus equipment and inventory.
Promoting Sustainability and Innovation
Tim Scott, President and CEO of Biocom California, expressed enthusiasm regarding the partnership, stating, "We’re proud to partner with Liquidity Services to provide essential support in liquidating and purchasing surplus equipment for our life science members in California and beyond. This partnership will stimulate innovation, unlock capital, and promote sustainability by repurposing idle assets to further life-saving technologies, which are vital for our industry’s growth and influence." This sentiment highlights the mutual benefits both organizations aim to achieve through this alliance.
The Need for Efficient Equipment Management
Life science organizations often face challenges related to maintaining specialized equipment necessary for their innovative work. According to industry analysis, many companies frequently carry a surplus of up to 20% in inventory, presenting an untapped opportunity for generating much-needed capital. Liquidity Services offers an efficient marketplace where these companies can both buy and sell high-quality surplus equipment while enjoying exclusive savings designed specifically for Biocom California members.
Empowering Life Science Companies
Elizabeth Maxted, the General Manager & VP of Capital Assets Americas at Liquidity Services, expressed excitement about the partnership, saying, "We’re thrilled to collaborate with Core by Biocom California and its dynamic life science community. Our goal is to provide tailored support and ensure excellent returns on unused or undervalued equipment for Biocom California members. This allows them to concentrate on what they do best—advancing science and improving health outcomes." This demonstrates the commitment both organizations have towards enhancing the operational capacities of life science companies.
Expanding Opportunities for Biocom Members
Through this partnership, Core by Biocom California continues to grow its network of reliable partners, enabling member organizations to thrive in today's competitive and resource-sensitive business environment. The collaboration underscores how strategic partnerships can pave the way for innovative solutions and sustainable practices in vital industries.
Outstanding Achievements of Liquidity Services
Liquidity Services (NASDAQ: LQDT) stands as a pioneer in its field, managing the largest B2B e-commerce marketplace for surplus assets globally. With transactions exceeding $10 billion and a reach of over 5 million qualified buyers, the platform has successfully connected numerous corporate and governmental sellers to optimal solutions. By assisting clients in extending asset life and minimizing waste, Liquidity Services contributes significantly to sustainability efforts.
Core by Biocom California's Value Proposition
Core by Biocom California not only aids life science companies in obtaining essential products and services at reduced prices but does so while aligning with corporate social responsibility goals. Representing over 40 states with more than 30 unique savings programs, it helps members save over $376 million annually. The initiatives and resources offered by Core provide life science organizations the ability to focus more on scientific advancements and less on operational hurdles.
Frequently Asked Questions
1. What is the purpose of the partnership between Liquidity Services and Biocom California?
The partnership aims to provide life science companies with better access to surplus equipment and inventory solutions, helping them optimize capital and innovate.
2. How can life science companies benefit from this collaboration?
Companies can benefit through a streamlined process for buying and selling surplus assets while enjoying exclusive savings designed for Biocom California members.
3. What are the sustainability goals of this partnership?
The partnership promotes sustainability by facilitating the reuse of idle assets and reducing waste in the life sciences sector.
4. How does Liquidity Services support its clients?
Liquidity Services supports clients by providing a robust marketplace for surplus assets while helping them minimize their carbon footprint and waste.
5. What financial advantages does Core by Biocom California offer its members?
Core by Biocom California provides members with access to significant savings, totaling over $376 million annually through various programs.
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