SALT LAKE CITY, Jan. 20, 2015 (GLOBE NEWSWIRE) -- InterMed Resources and Amedica Corporation (Nasdaq:AMDA), a company that develops and commercializes silicon nitride ceramics as a biomaterial platform, today announced the signing of a purchase agreement with HealthTrust, a leading group purchasing and total cost management organization that serves nearly 1,400 acute care facilities nationwide.
Under the agreement, Amedica will sell its entire line of silicon nitride interbody devices at a contracted price for distribution exclusively through InterMed Resources TN LLC to HealthTrust member facilities throughout the United States.
“We are pleased to be selected by HealthTrust to provide our innovative silicon nitride devices to additional healthcare facilities across the United States,” said Dr. Sonny Bal, chairman and CEO of Amedica Corporation. “We look forward to our association with HealthTrust and supporting individual members with our biomaterial, aimed at improving patient outcomes and lowering healthcare costs.”
The Valeo™ products are made of a micro composite silicon nitride biomaterial, which offer a superior environment for bone growth and osteointegration, as well as demonstrated anti-infective properties when compared to competitive PEEK and titanium offerings. Valeo™ silicon nitride interbody fusion devices are semi-radiolucent with clearly visible boundaries in X-rays and produce no artifacts under MRI or CT scans. The combination of these properties is found only in Amedica’s silicon nitride biomaterial technology.
About Amedica Corporation
Amedica is focused on the development and application of medical-grade silicon nitride ceramics. Amedica markets spinal fusion products and is developing a new generation of wear- and corrosion-resistant implant components for hip and knee arthroplasty. The Company manufactures its products in its ISO 13485 certified manufacturing facility and, through its partnership with Kyocera, the world’s largest ceramic manufacturer. Amedica’s spine products are FDA-cleared, CE-marked, and are currently marketed in the U.S. and select markets in Europe and South America through its distributor network and its growing OEM partnerships.
For more information on Amedica or its silicon nitride material platform, please visit www.amedica.com.
About InterMed Resources TN
InterMed Resources, located in Brentwood, Tennessee, is a minority-owned business that provides national and corporate consulting and contract management services to a variety of medical device manufacturers and suppliers focused on acute care, surgery centers, hospitals, long-term care and physician markets. InterMed specializes in representing innovative medical device companies and suppliers in small and medium business market segments. Its management team has extensive clinical, sales, distribution and national contracting experience (over 50 years collectively) in medical devices.
About HealthTrust
HealthTrust (legally known as HealthTrust Purchasing Group, L.P.) is committed to strengthening provider performance and clinical excellence through an aligned membership model and the delivery of total cost management solutions, including supply chain solutions and a contract and service portfolio unparalleled in quality, scope and value. HealthTrust (www.healthtrustpg.com) serves 1,350 acute care facilities, 800 ambulatory surgery centers and members in more than 10,600 other locations, including physician practices, long-term care and alternate care sites. Headquartered in Brentwood, Tennessee, HealthTrust is closely integrated with the proven capabilities of Parallon Business Solutions, LLC (www.parallon.com), a leading provider of healthcare business and operational services, including revenue cycle management, workforce and technology solutions. On Twitter @healthtrustpg and @parallonconnect.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief or current expectations of Amedica and members of its management team with respect to Amedica’s future business operations as well as the assumptions upon which such statements are based. Forward-looking statements include specifically, but are not limited to, that Amedica will enter into other private label agreements in the coming months and year, Amedica’s market opportunities, growth, future products, market acceptance of its products, sales and financial results and such statements are subject to risks and uncertainties such as the timing and success of new product introductions, physician acceptance, endorsement, and use of Amedica’s products, regulatory matters, competitor activities, changes in and adoption of reimbursement rates, potential product recalls, effects of global economic conditions and changes in foreign currency exchange rates. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found in Amedica’s Risk Factors disclosure in its Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on March 31, 2014, and in Amedica’s other filings with the SEC. Amedica disclaims any obligation to update any forward-looking statements.
CONTACT: Mike Houston Director of Investor Relations, Amedica Corporation 801-839-3534 mhouston@amedica.com Allen Hughes Vice President and Director of Corporate Accounts, InterMed Resources TN LLC 615-504-9319 ahughes@intermedtn.com
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