How many of these units are you going to be monitoring? Is it also for the support machines (chill water pumps, etc.)? Is the $30K/year you quoted the cost of the current monitoring contract, or a difference in the contractor's rate and the estimated cost to do it in-house?
The reason I'm asking is that the questions you are asking are pretty fundamental, so it would appear you are starting a program with no current in-house expertise. Don't under estimate the committment required to get a good in-house monitoring program up and running. Many facilities have done it successfully, and I applaud them. I have also seen many facilities attempt it without understanding the required management commitment to adequate training, man-power and good equipment.
Was your contractor not providing adequate warning of developing problems in the machines? If this is the case you may want to significantly change his procedures and do it "right". If the contractor was providing good service and was correct in his analysis and recommendations, then it may be worth working with them to transition the program to an in-house program even though it would probably cut into the estimated savings for a year or two.
Again, I am not trying to discourage you. My comments are just meant as a little reality check, based on the my experiences.
I agree with a previous post, that it may be worth investigating an on-line system for these machines, depending on the ultimate goal for your program. There are many different levels of on-line systems available.
Good luck with your program.
Skip Hartman