Derma Sciences, Inc. Announces Agreement With MedAssets, Inc. for MEDIHONEY(TM) Wound & Burn Dressings
PRINCETON, N.J., April 23 /PRNewswire-FirstCall/ -- Derma Sciences, Inc. , a provider of advanced wound care products, announced today that it has signed a new multi-year supply agreement with one of the nation's largest group purchasing organizations, MedAssets Supply Chain Systems, a MedAssets company . The 3-year agreement, with an effective date of June 1, 2008, will help to introduce MEDIHONEY(TM) Wound & Burn Dressing with Active Leptospermum Honey to the organization's growing customer base, and will provide these customers with a group discounted rate. Currently, MedAssets serves more than 125 health systems, 2,500 hospitals and 30,000 non-acute care healthcare providers. On an annual basis, MedAssets manages on behalf of its customers, an excess of $15 billion in supplies and services.
This supply agreement for specialty advanced wound care products features Derma Sciences' MEDIHONEY, line of dressings with Active Leptospermum Honey for managing a wide variety of wounds and burns. In July, the FDA gave its initial clearance of MEDIHONEY, and the product was launched last fall. Since then, another clearance for a line extension has been granted and a third is pending. Sales have rapidly increased, and over 20 clinical abstracts on the use of the product have been accepted at various wound conferences in 2008.
Marta V. Beile RN, a director of clinical supply chain for MedAssets' materials management division, decided it would be highly beneficial for MedAssets customers to carve out a "specialty" products agreement for this exciting new product. Beile stated, "It makes sense to provide our wound care clinicians with additional options to help heal patients. MEDIHONEY appears to offer incremental clinical benefits that may better enable our customers to provide optimal wound care."
Speaking of the new agreement, Derma Sciences' CEO Ed Quilty stated, "This is an important milestone for us. Group purchasing agreements such as this one will open up vast new selling opportunities for our growing sales team. MedAssets is a prominent group purchasing organization and we are pleased they decided to enter into an agreement with Derma for our proprietary product. We look forward to educating their customers on the benefits of MEDIHONEY."
About Derma Sciences
Derma Sciences is a global manufacturer and marketer of advanced wound- care products. Its key product, MEDIHONEY, is sold throughout the world by Derma Sciences and Comvita New Zealand -- the licensor of the patented honey- based technology -- and is the leading brand of honey-based dressings for the management of wounds and burns. The product has been shown to be effective in a variety of wounds and burns, and was recently the focus of two positive large-scale randomized controlled studies on leg ulcers. For more information about Derma Sciences, Inc., visit its home page on the Internet at http://www.dermasciences.com.
About MedAssets
MedAssets partners with healthcare providers to improve their financial strength by implementing integrated spend management and revenue cycle solutions that help control cost, improve margins and cash flow, increase regulatory compliance, and optimize operational efficiency. MedAssets serves more than 125 health systems, 2,500 hospitals and 30,000 non- acute care healthcare providers. For more information, go to http://www.medassets.com.
Forward-looking Statements
Statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements which may be made in this release or which are otherwise made by or on behalf of the Company. Factors which may affect the Company's results include, but are not limited to, product demand, market acceptance, impact of competitive products and prices, product development, completion of an acquisition, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements Include but are not limited to, those discussed in the Company's filings with the Securities and Exchange Commission.
CONTACT: Edward J. Quilty, Chairman and CEO of Derma Sciences Inc.,
+1-609-514-4744, equilty@dermasciences.com; or US Investors, Rudy Barrio,
r.barrio@allencaron.com, or media, Brian Kennedy, +1-212-691-8087,
brian@allencaron.com, both of Allen & Caron Inc, for Derma Sciences, Inc.
Web site: http://www.dermasciences.com/
http://www.medassets.com/