TSO3 Announces Group Purchasing Agreement with Capstone Health Alliance
QUÉBEC CITY and MYRTLE BEACH, SC, June 11, 2019 /PRNewswire/ - TSO3 Inc. ("TSO3" or the "Company") (TSX: TOS), an innovator in sterilization technology for medical devices in healthcare settings, is pleased to announce a preferred supplier agreement has been signed with Capstone Health Alliance ("Capstone"), a group purchasing alliance representing close to 300 acute care facilities in 24 states across the United States. Under the terms of the agreement, TSO3 shall be listed as a one of two low temperature sterilizer manufacturers contracted with Capstone to supply members with sterilizers, consumables and service at preferred prices for the duration of the contract which extends until 2021.
Tabitha Calloway, Director of Contracting Services for Capstone Health Alliance stated: "We are excited to partner with TSO3, a vendor partner that shares our commitment to provide innovative solutions that can both improve the standard of care for patients as well as significantly reduce costs and improve efficiency for our members."
"Our unique dual-sterilant sterilization system offers Capstone Health Alliance members many unique capabilities such as large, mixed load capacity, simple single cycle selection offering significant savings per instrument sterilized, and on-label sterilization claims for multi-channeled flexible endoscopes within certain dimensions." stated R.M. (Ric) Rumble, President and CEO of TSO3. "Our technology will support the Capstone Health Alliance members' sterilization needs for today and as they plan for the future."
About the STERIZONE® VP4 Sterilizer
The STERIZONE VP4 Sterilizer is a low-temperature sterilization system that utilizes the dual sterilants of vaporized hydrogen peroxide (H2O2) and ozone (O3) to achieve terminal sterilization of heat and moisture-sensitive medical devices. Its single pre-programmed cycle can sterilize a large number and wide range of compatible devices, creating a cost-effective sterilization process with error-free cycle selection. The device's unique Dynamic Sterilant Delivery System™ automatically adjusts the quantity of injected sterilant based on the load composition, weight and temperature. This capability removes the guesswork and potential for human error, as there is no need to sort instruments and choose the appropriate cycles as with other machines.
The STERIZONE VP4 Sterilizer is the only terminal sterilization method that is FDA cleared to sterilize long, multi-channel flexible endoscopes (with a maximum of four channels) of up to 3.5 meters in length, such as certain video colonoscopes, duodenoscopes and gastroscopes - an industry first for any medical device sterilization process.
The STERIZONE VP4 Sterilizer is also the only cleared low temperature sterilizer that can process a mixed load consisting of general instruments, single channel flexible endoscopes, and single or double channel rigid endoscopes in the same cycle with load weights of up to 75 lb. The ability to run mixed loads significantly reduces labor costs by minimizing the amount of instrument sorting required, while maximizing the device turns (more productivity from increased throughput capacity).
More information about the STERIZONE VP4 Sterilizer is available through TSO3's website, under the Products section at www.tso3.com.
Founded in 1998, TSO3's activities encompass the sale, production, maintenance, research, development and licensing of sterilization processes, related consumable supplies and accessories for heat-sensitive medical devices. The Company designs products for sterile processing areas in the hospital environment that offer an advantageous replacement solution to other low temperature sterilization processes currently used in hospitals. TSO3 also offers services related to the maintenance of sterilization equipment and compatibility testing of medical devices with such processes.
About Capstone Health Alliance
Capstone Health Alliance is a regional group purchasing alliance of healthcare members that delivers real cost savings through the power of aggregation and collaboration. Based in Fletcher, North Carolina, Capstone represents over $9 billion in acute care supply chain spend. To create the best savings opportunities for our members, we pair Premier's national portfolio with our local aggregation model – blending the best of national and regional contracting – to continually expand our extensive portfolio of more than 750 preferred pricing agreements. Capstone delivers quantifiable savings and actionable data that enable better supply chain decisions for our member facilities. In addition to cost savings initiatives, Capstone members collaborate to share best practices and pursue resource utilization initiatives, all with the intent of improving cost, quality, and outcomes in patient care.
For more information about TSO3, visit the Company's website at www.tso3.com.
The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, the limited history of sales or distribution of the Company, the evolution in customer demand for the Company's products and services, the plans for sales and marketing including the fact that the Company's customers may not commit to any purchases, the ability of the Company to obtain the required regulatory clearances to market its products, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favorable terms and other risks and uncertainties. Although TSO3 believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The complete versions of the cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect TSO3's actual or projected results are included in the Management's Discussion and Analysis for the year ended December 31, 2018, which is available on the Company's website. The forward-looking statements contained in this press release are made as of the date hereof, and TSO3 does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
SOURCE TSO3 Inc.
Company Codes: Toronto:TOS