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OpenMarkets
OpenMarkets is a healthcare procurement platform founded in 2011 by CEO Trevor Wood, connecting providers and suppliers for equipment purchasing.
OpenMarkets
OpenMarkets was founded in 2011 to address fragmentation in healthcare equipment procurement. Trevor Wood serves as CEO; the executive team includes Tom Derrick (SVP Sales), Hanna Skodras (VP Product and Operations), and Hawley Valentine (VP Customer Success). The company operates out of Chicago, with offices in Sydney and Melbourne, Australia. The platform offers four products: Exchange (a listing and quoting tool), Formulary (an approved-equipment catalog), CapConnect (capital planning workflow software), and Optimizer (pricing comparison and negotiation support). Customers include health systems such as Banner Health, Endeavor Health, and Guthrie Health. The company targets cost-effective contracting, workflow optimization, and total cost-of-ownership reduction. In August 2025, OpenMarkets joined winners of the Chicago Innovation Awards in ringing the Nasdaq closing bell. The company has partnered with Guthrie Health, onboarding 4 hospitals and 38 non-acute care centers in 3.5 months. It also maintains a network of trusted advisors including Dan Michalek, Ken Graves, and Bill Esping. OpenMarkets operates as a software-as-a-service platform rather than a family office, investment firm, or wealth manager. Its differentiator is a specialized vertical focus on healthcare capital equipment procurement, connecting suppliers and providers through a unified digital workflow.
General information
Firm type
other
Year founded
2011
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Additional offices
Melbourne, Australia · Sydney, Australia
Principals
Trevor Wood
CEO
Tom Derrick
SVP Sales
Hanna Skodras
VP Product and Operations
Hawley Valentine
VP Customer Success
Sector focus
Frequently asked questions
Who runs investment decisions at OpenMarkets?
The firm operates as a software company, not an investment vehicle. CEO Trevor Wood sets strategic direction, supported by an executive team that includes the SVP of Sales, VP of Product and Operations, and VP of Customer Success (per firm website).
How does OpenMarkets source proprietary deal flow?
OpenMarkets does not source deals. It provides a procurement platform where healthcare providers connect with equipment suppliers. Suppliers are added by the provider organizations themselves (per firm website).
Is OpenMarkets structured as a single family office or does it operate more like a venture firm?
Neither. OpenMarkets is a business-to-business software company focused on healthcare capital equipment procurement. It has no disclosed ties to family-office wealth or investment management (per firm website).
Does OpenMarkets participate in fund commitments or only direct deals?
OpenMarkets is not an investment manager. It does not commit capital to funds or make direct investments. Its revenue comes from platform subscriptions and transaction-based fees (per firm website).
What investment stages does OpenMarkets typically target?
The firm does not invest in companies or stages. Its platform serves health systems of all sizes, from rural hospitals to large integrated networks, at any stage of their capital equipment lifecycle (per firm website).
Which sectors does OpenMarkets explicitly avoid?
The platform is limited to healthcare equipment procurement. It does not serve non-healthcare industries, consumer goods, financial services, or technology outside of medical equipment (per firm website).
Where does the underlying wealth come from?
OpenMarkets is not a family office or wealth manager. The company's ownership structure is not publicly disclosed; no individual or family behind its founding is named as a wealth source (per firm website).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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