Problem solved.
RESILIENCE. DEPENDABILITY.
Myriad Medical Supply is a transformational medical device supplier with a unique mission and a different sourcing and distribution model.
Myriad’s business model is designed for supply resilience and dependability. Our connections with foreign and domestic suppliers as well as local and regional distributors are direct. As a result, we can provide high quality large-volume commodity products at a favorable cost.
At the same time, Myriad addresses one of the strongest priorities in US healthcare with economical solutions that drive social equity for minorities, specifically people of color, through job creation and professional growth. Our model addresses the hospital or healthcare system’s desire to increase its minority spend – and it addresses the need for minorities to grow financially, professionally, and socially – to close the equity gap in US society.
SAMPLE PRODUCTS
Exam Gloves
Incontinence Products
Surgical and Procedure Masks
About.
OUR BACKGROUND & OUR VISION
Myriad Medical Supply started out as a medical device distribution company based on minority employees and leaders working together to get medical devices in the hands of healthcare providers in a timely, reliable, and cost-efficient manner. Myriad has worked with large healthcare facilities in the United States as a distributor of medical devices for several years. As a company, Myriad experienced the dominance of large healthcare distributors in healthcare commodity markets and discovered the need to work backwards in the supply chain and become device suppliers. Over the past years, we have built strong, direct relations to medical device commodity manufacturers across the world, and we have launched an initial portfolio of price competitive, reliable medical device supplies.
Myriad Medical Device Supply’s vision is to provide a reliable, price competitive alternative to large distributors to increase price transparency, value, and reliability of key commodity products that are central to healthcare facilities – and to patient care. As we work towards this vision, we invite healthcare facilities and systems to join us in our efforts to improve opportunities for members of our minority organization and for the minorities served by healthcare facilities across the country.
ABOUT MYRIAD
MEDICAL SUPPLY
Myriad Medical Supply is a true minority owned company that sells commodity products to hospitals and health systems. Healthcare distribution channels are dominated by a handful of large corporations. Myriad is different in two ways: Myriad leads the way in improving the socio-economic standing of minorities through success in healthcare sales – and Myriad demonstrates leadership in helping hospitals and health systems increase their minority spend with reliable, economic commodities.
WORKING WITH A MINORITY-OWNED BUSINESS.
Opportunities are not equal in American healthcare. Minorities do not have the same access to lucrative jobs as others, and upward socio-economic mobility is difficult for minority business owners and employees in healthcare. Hospitals, health systems and GPOs are increasingly addressing this challenge by requiring a certain percentage of the facility’s spend to be so-called “minority spend”. For example, in 2021, 12 large hospital systems signed the Impact Purchasing Commitment (Advocate Aurora Health, Baystate Health, Bon Secours Mercy Health, Cleveland Clinic, CommonSpirit Health, Henry Ford Health System, Intermountain Healthcare, Kaiser Permanente, Providence, Rush University Medical Center, Spectrum Health, and UMass Memorial Health) and committed to increase spending with Minority and Women Owned Business Enterprises (MWBEs) by at least $1B over 5 years.
The GPOs are following suit and provide their members with more access to diverse suppliers: When a hospital’s supplier network reflects the diversity of the patient population, innovation is boosted, and the diverse patient and supplier populations improve their standing. The idea behind this is that if a certain amount of money is spent with companies that are predominantly minority employees and leaders, then we provide real opportunity for minorities to grow, create wealth, and raise their standard of living. And the healthcare supply chain, in particular, is uniquely positioned to expand social impact through inclusive sourcing strategies and diverse supplier partners.
The Harvard Business Review defines a diverse supplier as “at least 51% owned and operated by members of a traditionally underrepresented or underserved group”. Last year (2023) only 1.13% of hospitals’ total indirect expenditures was with minority suppliers, down from 2.31% in 2022. And healthcare is far behind other industries, where minority spend can be 10%+ of total spend. On top of this, in healthcare, it can be hard to define the “minority spend”. Is the owner minority, but his/her company not? Is a large distributor simply passing spend through a minority person? The point of the minority spend is not that the (minority) “owner” of a company becomes wealthy, but that minority employees and their families along with minority business leaders become socially and financially successful and gain the potential for upward socio-economic mobility.
BOBBY TAYLOR
FOUNDER & CEO
Myriad Founder and CEO, Bobby Taylor, has been a Charlotte resident since 2018. He has an MDE from UCLA and spent decades in the commodities trading/finance world. Mr. Taylor’s vision is to create a positive impact on the communities Myriad serves by creating jobs and opportunities, with a focus on providing opportunities for other diverse and minority-owned businesses. The company provides visibility into the supply chain and it is able to adapt to changes quickly. However, for Mr. Taylor, the downstream impact of his business is very important: The company has created many jobs through its 3PL freight and warehouse operations. Myriad partnered with two minority-owned trucking companies to support Myriad with last-mile customer deliveries to a large customer. It also partnered with a minority-owned sales company to grow its customer base in other markets. And Myriad partnered with a minority-owned, owner-operated trucking firm to provide drayage services.
DAVID NICHOLS
PRINCIPAL
David Nichols is a seasoned professional and thought leader with extensive experience in both the clothing and healthcare industries. As a member of the Alliance Healthcare Partners network, he has played a pivotal role in identifying, cultivating, and growing innovative healthcare cost-saving initiatives, ranging from healthcare technology solutions to the re-use of technology and commodity healthcare devices. His leadership has inspired organizations to think beyond the status quo, leading to boundary-breaking solutions that achieve commercial success. In addition to his healthcare expertise, Mr. Nichols has a distinguished career in the clothing industry. He founded Nichols Custom Clothiers in 1983, leveraging his professional styling skills to earn acclaim from prominent figures in sports, entertainment, and business. His work has been featured in numerous music videos, country music awards, films, and on talk/news segments across major networks such as CBS, FOX, NBC, and CNN. Dedicated to giving back, David co-founded the First Impressions Foundation, which promotes educational attainment through mentorship and scholarships for at-risk youth. This year, the foundation is partnering with the Naismith Basketball Hall of Fame, Phoenix Suns, Salvation Army, and other notable basketball personalities to host Hall of Fame Impressions—an initiative designed to inspire thousands of students in the greater Phoenix area through engaging town hall events.
Contact.
REACH OUT.
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