Healthcare Industry News: Novation
News Release - April 21, 2009
Orthofix International Announces Expanded Three-Year Supply Contract with NovationBOSTON--(HSMN NewsFeed)--Orthofix International N.V. (NASDAQ: OFIX ) (the Company) announced today that its sport medicine division, BREG Inc., has entered into an expanded three-year supply agreement with Novation, the health care industry’s leading contracting services company covering more than 2,500 members and affiliates of VHA Inc. and the University HealthSystem Consortium (UHC) as well as over 12,000 customers of Provista.
Under the terms of the agreement, BREG will continue to supply Novation with its comprehensive lines of functional, OA, patellofemoral and postoperative knee braces. Additionally, under this new agreement BREG will also provide the VHA, UHC and Provista member hospitals with its bracing products for the upper and lower extremities, including shoulder bracing, walkers and ankle bracing. VHA, UHC and Provista members purchased more than $35 billion in supplies through Novation contracts in 2008.
“We are excited to not only continue our relationship with Novation, but to expand the bracing products available to patients at their member health care facilities around the country under this new agreement,” said Alan Milinazzo, President and CEO of Orthofix International. “Novation is highly regarded for providing clinical knowledge and product expertise to their members nationwide, and we are pleased to continue working with them as a partner.”
Novation awarded the contract to BREG through its competitive bid process. The decision was based on extensive member-driven criteria, which measures both financial and non-financial factors, including product line breadth, clinical acceptability, new product development, and service capabilities. The three-year supply agreement will become effective June 1, 2009.
Orthofix International, N.V., a global medical device company, offers a broad line of minimally invasive surgical, and non-surgical, products for the spine, orthopedic, and sports medicine market sectors that address the lifelong bone-and-joint health needs of patients of all ages–helping them achieve a more active and mobile lifestyle. Orthofix’s products are widely distributed around the world to orthopedic surgeons and patients via Orthofix’s sales representatives and its subsidiaries, including BREG, Inc. and Blackstone Medical, Inc., and via partnerships with other leading orthopedic product companies. In addition, Orthofix is collaborating in R&D partnerships with leading medical institutions such as the Musculoskeletal Transplant Foundation, the Orthopedic Research and Education Foundation, Rutgers University, Texas Scottish Rite Hospital for Children and National Osteoporosis Institute. For more information about Orthofix, please visit http://www.orthofix.com/.
Source: Orthofix International
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