January 12, 2012 - London - Today sees the launch of Peto (www.peto.co.uk), the first comprehensive product comparison website for the NHS in England & Wales. Peto creates a transparent market for Suppliers and the NHS, revolutionising the existing and often criticised system of “postcode pricing and purchasing.”

The launch of Peto creates:
• A game changing product comparison website for the NHS to measure quality and cost of purchased products
• A transparent market which benefits the NHS, suppliers and the public
• The first major private sector response to challenges surrounding transparency
• Significant opportunities for Suppliers to reduce their cost of sales
• A more open market for new Suppliers and SMEs to sell to NHS

According to the UK Treasury, the NHS purchases GBP£4.6 billion pounds of products and supplies each year. The July 2011 Public Accounts Committee report into NHS purchasing called for NHS Supply Chain to adopt technologies and approaches that improve the transparency of their offer.

Peto answers this challenge, providing the NHS with a wider choice and comparison of products than currently exists. Trusts will be able to rate and share feedback on products while also benefitting from volume based pricing options.

For suppliers, Peto provides an online “shop window” available to every NHS Trust, designed to reduce the cost of sales and accelerate the take-up of new products. Sharing of the users’ product reviews will provide high recognition to those consistently delivering value. SMEs and new entrants will have previous barriers to entry reduced, which will encourage innovation.

Peto has been welcomed by both buyers and suppliers.

Aaron Cummins, Chair of Government Procurement Services NHS Customer Board, Chair of FTN Finance Directors Forum (and Director of Finance at Liverpool Heart and Chest Hospital NHS Foundation Trust) said:

“This is long awaited and could change the way the NHS does business in the future. Trust management teams have sought the level of transparency this solution will deliver for a number of years. A tool such as this will enable us to better manage our spend and more importantly understanding what product choices we should be making based on user feedback, akin to how we buy from the likes of Amazon, balanced with complete visibility of costs and alternative products. This new transparent landscape we need to create and sustain is crucial to delivering a cost effective NHS that above else delivers the volume and quality of patient care needed. “

Luke Fryer, Managing Director, Medline Industries, said:

“Medline welcomes this new channel enabling suppliers to work with the NHS more transparently, fulfilling the need to promote trust between buyers and suppliers. Peto will also allow us to create a wider and deeper presence in the NHS market, significantly increasing the breadth and delivery of our NHS product portfolio.”

Such is the demand for transparency that at the time of launch over two thirds of NHS Trusts responsible for approximately £3bn goods and services spend are already participating with Peto. Peto has launched with over 13,000 supplier products listed on the system. This will increase to over 50,000 products by February 2012 placing Peto as one of the UK’s largest product comparison websites.

With over 850 suppliers registered, the number of listed products is set to grow rapidly covering the majority of products bought by the NHS. Peto is free to the NHS and to suppliers for a limited number of products. There is a modest charge to suppliers for putting additional products on the system.

Martin Wilson, Executive Chairman of Peto said:

“Peto is about creating the most transparent and efficient business to NHS market. Adopting the Peto online product and price comparison solution will be good for everyone. Buyers will have more choice and information. Suppliers will reduce their cost of sales. Patients and the wider public will benefit from improved product selection and better value for money.”

Published on: 12:09PM on 12th January 2012