New York Gov. Andrew Cuomo said the partnership will help prevent price gouging and save taxpayer money.

The consortium will make the states more competitive, help prevent price-gouging and save taxpayer money, Cuomo said.(STEFANI REYNOLDS/GETTY IMAGES)

GOV. ANDREW CUOMO announced on Sunday that New York is launching a “regional buying consortium” with six other states to purchase medical supplies and coronavirus tests in order to “increase market power and bring down prices.”

New York, New Jersey, Rhode Island, Massachusetts, Delaware, Connecticut and Pennsylvania are teaming up to buy $5 billion worth of medical equipment and supplies, including personal protective equipment, COVID-19 testing kits and ventilators.

The consortium will make the states more competitive in the international marketplace, help prevent price-gouging and save taxpayer money, as well as help the region acquire critical medical supplies, Cuomo said.

He also said that the states will coordinate with the federal government.