Bacterin International Holdings (AMEX:BONE) unveiled Tuesday its third national group purchasing organization (GPO) contract, announcing a three-year agreement with health care supply chain company Novation.
The maker of bone graft material and
antimicrobial coatings for medical applications said the agreement
provides Bacterin's full biologic portfolio to the nationwide network of
hospitals and medical practices served by Novation.
portfolio includes Bacterin's OsteoSponge, OsteoSelect DBM Putty,
OsteoWrap, OsteoLock, BacFast, hMatrix, Sports Medicine Allografts, and
Bacterin's technology optimizes the growth factors in human allografts to promote bone, subchondral repair and dermal growth.
company's products are used in a variety of applications including
enhancing fusion in spine surgery, relief of back pain, bone growth in
foot and ankle surgery, cranial healing following neurosurgery and
subchondral repair in knee and other joint surgeries.
pleased to partner with Novation, an organization which has developed an
industry-wide reputation for innovative, technology-driven,
results-oriented approaches to improving supply chain performance," said
Bacterin chairman and CEO Guy Cook.
"The inclusion of our
products in Novation's network is a significant opportunity to create
exposure and access for physicians to our broad portfolio of biologics.
"Our sales reps are excited to begin calling on their facilities."
group purchasing agreement became effective after performing "months of
research and evaluation" of the Bacterin product lines, Bacterin said.
in 1998 and based in Irving, Texas, Novation is a health care supply
chain company for the more than 65,000 members of VHA Inc. and UHC, two
national health care alliances, and Provista, LLC.
provides alliance members with sourcing services, as well as information
and data services and manages contracts with more than 600 suppliers.
week, Bacterin said that first quarter revenue increased 29 percent to
$7.8 million, compared to $6.0 million in the year-ago period.
the latest quarter, the company said hospital accounts increased to 756
facilities, an increase of 45 percent over 519 facilities in the first
quarter of 2011.
In addition to bone graft material, the company
also makes bioactive coatings for various medical device applications,
including antimicrobial coatings designed to inhibit biofilm formation
and microbial contamination.
The company's shares rose 0.7 percent Tuesday Morning, to $1.49.