SP Plus Corporation Enters into Regional Enhanced Group Purchasing Agreement with Yankee Alliance

Rhea-AI Summary

SP Plus Corporation (SP) announced on June 18, 2020, a new enhanced group purchasing agreement with Yankee Alliance, effective June 1, 2020. This agreement designates SP+ as the preferred supplier for parking and transportation services to Yankee Alliance’s 16,800 members. Services include parking management, valet, shuttle, and patient transport. The collaboration is expected to optimize efficiencies and cost savings for healthcare facilities. Additionally, this agreement builds on SP+'s prior collaboration with Premier, Inc., supporting its growth strategy in healthcare services.

Positive

• Awarded a new group purchasing agreement with Yankee Alliance, expanding SP+'s market reach.
• Designated as the preferred supplier for a comprehensive range of parking and transportation services.
• The collaboration is expected to drive efficiencies and cost savings for healthcare members.

Negative

• None.

CHICAGO, June 18, 2020 (GLOBE NEWSWIRE) -- SP Plus Corporation (SP+), (Nasdaq: SP), a leading provider of technology-driven mobility solutions for aviation, commercial, hospitality and institutional clients throughout North America, today announced the award of an enhanced group purchasing agreement with Yankee Alliance Supply Chain Solutions, LLC and Yankee Alliance, LLC (Yankee Alliance), a member-driven healthcare group purchasing organization (GPO) with more than 16,800 members.

Effective June 1, 2020, the new agreement designates SP+ as Yankee Alliance’s preferred contracted supplier for parking and transportation operations, including parking management and planning, valet, shuttle, concierge, enforcement, facility maintenance, and patient, wheelchair and vehicle transport services. Under the agreement, participating members who enlist SP+ to provide parking and transportation services are also eligible to receive enhancements to drive additional value and savings through their aggregation philosophy. SP+ is already actively engaged in discussions related to contract activations and conversions to promote utilization of the agreement.

“This is a great opportunity for our Yankee Alliance members to take advantage of pre-negotiated options and collaborate with SP+ to optimize efficiencies, revenue, and cost savings, while delivering exceptional customer service to patients and visitors,” commented Amy Campbell, Chief Administrative Officer for Yankee Alliance.

Under this new agreement, SP+ is able to include unique value and services which are specific to the needs of Yankee Alliance members. As an affiliate of Premier, Inc., Yankee Alliance members are also eligible to benefit from a national agreement between SP+ and Premier, which was initially executed in September 2019 as part of the SP+'s expansion of its healthcare services.

“Our partnerships with healthcare GPOs are an integral part of SP+’s overall growth plan. More than ever, healthcare facilities are looking to us for new solutions to heighten the level of parking, transportation and mobility operations and ultimately enhance the patient and visitor experience. The terms of this agreement derived from candid conversations with Yankee Alliance leaders to make sure the priorities and objectives of their members are covered,” commented Rob Toy, President, Commercial Division for SP Plus Corporation.

SP+ facilitates the efficient movement of people, vehicles and personal belongings with the goal of enhancing the consumer experience while improving bottom line results for our clients. The Company provides professional parking management, ground transportation, remote baggage check-in and handling, facility maintenance, security, event logistics, and other technology-driven mobility solutions to aviation, commercial, hospitality, healthcare and government clients across North America. For more information, visit www.spplus.com.   

Jill Nagel
                    Senior Communications Manager
                    jnagel@spplus.com, 312-274-2102

FAQ

What is the significance of the new agreement between SP and Yankee Alliance?

The new agreement designates SP as the preferred supplier for parking and transportation services to over 16,800 Yankee Alliance members, enhancing SP's market presence in the healthcare sector.

When did the agreement between SP and Yankee Alliance take effect?

The agreement became effective on June 1, 2020.

What services does SP provide under the Yankee Alliance agreement?

SP provides parking management, valet, shuttle, and patient transport services as part of the agreement.

How does the agreement impact SP's growth strategy?

The agreement is part of SP's overall growth plan, focusing on expanding its partnerships with healthcare GPOs to enhance service offerings.

What additional benefits do Yankee Alliance members receive from this agreement?

Members can access pre-negotiated options and collaborate with SP to optimize efficiencies and cost savings.