Bacterin International Holdings Inc (OTCMKTS:BONE) announced that it extended its agreement with Novation for one more year. The additional period will enable the company to continue to provide Novation members with OsteoSelect DBM Putty, OsteoSponge, and other proprietary allografts.
Novation manages and develops competitive contracts with over 700 suppliers. The company is also a biologic supplier and belongs to the list of three companies with an agreement for demineralized bone matrix know-how. It also belongs to the list of four allograft suppliers. Therefore, Bacterin has a competitive advantage compared to many other biologic providers companies that do not have any contract with Novation.
Bacterin entered into a contract with Novation in 2012 and the two companies have worked closely in numerous areas including assisting to impel contract utilization with the key members, increasing value for the facility and related patients, and assisting its members identify savings without compromising quality or safety. In 2014, almost 25% of the company’s revenues came through Novation members.
The expert view
Novation has and will continue to remain a key GPO associate for Bacterin products. Both entities are committed to the new extended relationship and to maintain a focus on efficacy, safety and quality for the patients who get the treatment of Bacterin biologic product line. Melanie Head, the VP of Sales for Bacterin International Holdings Inc (OTCMKTS:BONE) said that the deal with Novation has provided company with growth opportunities with the member affiliates across the United States. The company is excited to extend the successful relationship for another one year.
The company was established in 1998. It is a health care services firm for over 100,000 affiliates and members of two national health care groups. It drives the success of members by integrating aggressive supply cost management, world-class intelligence and deep industry expertise. The services are used to make better informed decisions.