Organogenesis Receives Innovative Technology Contract from Vizient
May 01 2019 - 8:30AM
Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative
medicine company focused on the development, manufacture and
commercialization of product solutions for the Advanced Wound Care
and Surgical and Sports Medicine markets, announced today that it
has received an Innovative Technology contract from Vizient, Inc.
for its portfolio of advanced wound care and surgical and sports
medicine products.
The contract for the Organogenesis product
portfolio was based on a recommendation from hospital experts who
serve on one of Vizient’s member-led councils. The portfolio
includes PuraPly® Antimicrobial (PuraPly AM); Apligraf®, the only
product to have received FDA approval for treating both diabetic
foot ulcers (DFUs) and venous leg ulcers (VLUs); Dermagraft®, which
is FDA approved for treating DFUs; as well as FiberOS™, NuCel®,
NuShield®, OCMP™ and ReNu®.
“We are honored that Vizient, the largest health
care performance improvement company in the country, with more than
3,100 hospital and health system members, has awarded Organogenesis
this Innovative Technology contract for our comprehensive and
differentiated advanced wound care and surgical and sports medicine
portfolios,” said Gary S. Gillheeney, Sr., President and Chief
Executive Officer of Organogenesis. “We are delighted to have
received this contract and look forward to offering Vizient members
across the county our innovative products as part of their move to
value-based care.”
“Hospitals and providers are continuously
looking for innovative solutions that demonstrate an ability to
enhance clinical care or patient safety, and those that improve an
organization’s care delivery and business model,” said Debbie
Archer, director of procurement and leader of the Vizient
Innovative Technology program for suppliers. “After a full review
of the wound care products from Organogenesis, Vizient’s member
council agreed this solution offers an incremental benefit over
other products and recommended it for an Innovative Technology
contract.”
Vizient represents a diverse membership base
that includes academic medical centers, pediatric facilities,
community hospitals, integrated health delivery networks and
non-acute health care providers and represents approximately $100
billion in annual purchasing volume. Through its Innovative
Technology Program, Vizient works with member-led councils and task
forces to review potentially innovative products. If it is
determined that a product is innovative, Vizient may award a
contract outside of the competitive bid cycle.
About OrganogenesisOrganogenesis
Holdings Inc. is a leading regenerative medicine company offering a
portfolio of bioactive and acellular biomaterials products in
advanced wound care and surgical biologics, including orthopedics
and spine. Organogenesis’s comprehensive portfolio is designed to
treat a variety of patients with repair and regenerative needs. For
more information, visit www.organogenesis.com.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements relate to expectations or
forecasts for future events, including statements regarding the
adoption of our products by Vizient members. Forward-looking
statements may be identified by the use of words such as “will,”
“forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,”
“expect,” “estimate,” “plan,” “outlook,” “extend,” “continue” and
“project” and other similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters. Forward-looking statements are based on current
expectations that are subject to known and unknown risks and
uncertainties, which could cause actual results or outcomes to
differ materially from expectations expressed or implied by such
forward-looking statements. These factors include the fact that
rapid technological change could cause our products to become
obsolete and if we do not enhance our product offerings through our
research and development efforts, we may be unable to effectively
compete; that to be commercially successful we must convince
physicians that our products are safe and effective alternatives to
existing treatments and that our products should be used in their
procedures; and other risks and uncertainties described in the
Company’s filings with the Securities and Exchange Commission,
including Item 1A (Risk Factors) of the Company’s Form 10-K for the
year ended December 31, 2018. You are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Although it may voluntarily do so from time to
time, the Company undertakes no commitment to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
securities laws.
Press and Media Inquiries:
Angelyn Lowe
alowe@organo.com
781-774-9364
Investor Inquiries:
Westwicke Partners
Mike Piccinino, CFA
OrganoIR@westwicke.com
443-213-0500
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