NEW YORK, Oct. 24, 2012 /PRNewswire/ -- Paradigm Spine LLC, a provider of innovative spinal implant technologies, and OM HealthCare Logistics, the third-party logistics (3PL) service of Owens & Minor, Inc. (NYSE: OMI), have signed a multi-year supply chain services agreement for the domestic healthcare marketplace. Paradigm Spine will use OM HealthCare Logistics to distribute its signature product, the coflex® device, in the United States. The U.S. Food and Drug Administration recently granted Premarket Approval ("PMA") for coflex®, a minimally invasive, Motion Preserving Interlaminar Stabilization device that is the first and only alternative to fusion for the treatment of Moderate To Severe Stenosis With Or Without Back Pain.
"Owens & Minor's track record of providing world-class supply chain management solutions throughout the healthcare industry was a major factor in our decision making process," said Steven Amelio, Chief Financial Officer of Paradigm Spine. "Owens & Minor's national-scale 3PL service is a natural fit for Paradigm Spine - coflex® Interlaminar Technology is streamlined and compact, having fewer implants and instruments compared to competitors' systems. OM HealthCare Logistics offers a breadth of services that will eliminate the complexities of introducing coflex® to new customers. The coflex® device will be distributed immediately throughout the U.S. by OM HealthCare Logistics."
Through its domestic 3PL service, OM HealthCare Logistics, Owens & Minor will provide full "order-to-cash" services to Paradigm for managing distribution of the new device. These services include: customer service, accounts receivable management, invoicing, pick-pack-and-ship, and procuring and managing transportation services.
"We are very pleased that Paradigm has chosen OM HealthCare Logistics to help bring their new product to market in the United States," said Brian Shotto, senior vice president, Specialty Services for Owens & Minor. "Our customers appreciate the agility, reliability and flexibility of our third-party logistics service. By leveraging our comprehensive 3PL solution, as well as Owens & Minor's extensive connections to the leading healthcare systems around the country, companies such as Paradigm are free to do what they do best: develop life-changing medical technologies that contribute to the health of patients across the country and around the world."
About Paradigm Spine LLC
Paradigm Spine LLC, founded by Viscogliosi Bros., LLC in 2004, is a privately held company focused on the design, development and marketing of solutions for the treatment of spinal conditions and diseases. The company's signature product is the coflex® Interlaminar Stabilization device, which has more than 18 years of clinical history with regulatory approval in more than 40 countries throughout 6 continents. For more information on Paradigm Spine LLC, please visit the company's new website at www.paradigmspine.com.
About Owens & Minor, Inc.
Owens & Minor, Inc.(NYSE: OMI) a FORTUNE 500 company headquartered in Richmond, Virginia, is a leading national distributor of name-brand medical and surgical supplies and a healthcare supply-chain management company. Owens & Minor is also a member of the Russell 2000® Index, which measures the performance of the small-cap segment of the U.S. equity universe, as well as the S&P MidCap 400, which includes companies with a market capitalization of $1 billion to $4.4 billion that meet certain financial standards. With a diverse product and service offering and distribution centers throughout the United States, the company serves hospitals, integrated healthcare systems, alternate site locations, group purchasing organizations, healthcare suppliers and the federal government. Owens & Minor provides technology and consulting programs that improve inventory management and streamline logistics across the entire medical supply chain from origin of product to patient bedside. For more information about Owens & Minor, visit the company website at www.owens-minor.com.
SOURCE Paradigm Spine LLC