Buying Used Equipment: Experts Offer Tips to Potential Buyers

Asset management and redeployment are gaining recognition as important parts of managing pharmaceutical equipment. “We are seeing more formal programs and procedures in place to redeploy unused assets,” says Matthew Hicks, COO of Federal Equipment, which specializes in asset management of process equipment.  “Some companies now have an in-house asset disposition department or, more commonly, a person charged with asset management who will work with a service provider to handle the details.” Factors such as budget restrictions and the recognition that assets must be handled efficiently have led to global, mainstream adoption of buying and selling used equipment by both Big Pharma and mid-size and smaller organizations, said Tom Burton, executive vice-president and president of the Capital Assets Group at Liquidity Services in a recent article.

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