Bacterin receives vendor status for American Medical Concepts' distribution network

Bacterin International Holdings (AMEX:BONE) said Monday it has been awarded vendor status for its full portfolio of products by American Medical Concepts (AMC), the largest multi-specialty orthopedic, spine and neuro distributor in the northwestern USA.
The maker of bone graft material and antimicrobial coatings for medical applications said the award gives it "pre-approved" access to market its full portfolio of products to AMC's entire network of hospitals and surgery centres.
Investors cheered the news, with shares of Bacterin rising almost nine percent, to trade at $2.7 as of 11:22am ET Monday morning.
Bacterin's portfolio includes the company's existing Cranio-maxillofacial (CMF) line of orthopedic implants, as well as the pending sustained-release antimicrobial coatings and device implants.
"Our pre-approved status with AMC opens the door to a leading healthcare delivery network that is dominate in the Northwest. We are pleased to partner with such a prestigious group as AMC to distribute our current and future products," said Bacterin chairman and CEO, Guy Cook.
"For more than 20 years, AMC has been dedicated to providing the best patient care by delivering quality equipment and medical supplies. Their endorsement is a strong validation of our current biologic portfolio and future product pipeline."
Co-founder of AMC, Rob Goodman, added: "We're excited to add Bacterin into our portfolio of products, and we expect Bacterin's products to be well received by our accounts across the region. This includes Bacterin's QuickScrew, their unique pre-loaded surgical screw delivery system for CMF procedures, which provides a new level of speed and convenience during surgery."
Bacterin uses its proprietary methods that optimize the growth factors in human allografts to create the ideal stem cell scaffold, promoting bone and other tissue growth. These products are used to enhance fusion in spine surgery, to relieve back pain, promote bone growth in foot and ankle surgery as well as cranial healing following neurosurgery. The company's medical division also develops antimicrobial coatings that inhibit contamination.
For the three months ending June 30, the Belgrade, Montana-based company said that second quarter losses narrowed as revenues soared. Revenues jumped 135 percent year-over-year and 25 percent sequentially to $7.5 million, marking the seventh consecutive quarter of record revenues.
This growth was primarily attributable to the broader use of the company's biological products, antimicrobial coatings and device implants in hospitals, as driven by the recent implementation of a direct and expanding sales force.