SANTA CLARA, Calif., March 30, 2014 – Benvenue Medical, Inc., a developer of minimally invasive solutions for spine repair, today announced that it has signed a group purchasing agreement for the Kiva® VCF Treatment System with Novation, the leading health care services company. The three-year contract became effective March 1, paving the way to offer the Kiva System through the Novation portfolio to the more than 100,000 members and affiliates of VHA Inc., UHC, Children’s Hospital Association and Provista served by Novation.
The Kiva System was selected through the Novation Innovative Technology program, which is designed to ensure that members have access to innovative health care technology. The rigorous process includes review by a clinical member council or task force to determine whether the technology represents incremental advantage for members. The Kiva System is the first clinically proven new approach to the treatment of vertebral compression fractures (VCFs) in over a decade.
“We are committed to providing the health care facilities we serve new technologies that are clinically validated and cost-effective,” said Olya Carter, RN and Senior Clinical Manager at Novation. “The decision to offer the Kiva System was based on compelling treatment effectiveness data from multiple clinical studies.”
Kiva clinical data submitted to Novation include a prospective, randomized, controlled clinical study comparing Kiva outcomes against those of balloon kyphoplasty (BKP), a commonly used treatment for spinal fractures. In addition, in multiple published studies comparing Kiva to BKP, Kiva consistently improved patient outcomes in cement extravasation, cement volume and improvement in kyphotic correction (spinal realignment). Kiva has also been shown to reduce the adjacent level fracture rate as compared to balloon kyphoplasty, as well as to significantly reduce the rate of readmissions relative to BKP.
“Kiva has met the high bar set by the Novation Innovative Technology program by providing improved patient outcomes and a reduction in the economic burden to the healthcare system, compared with balloon kyphoplasty,” said Robert Weigle, CEO of Benvenue Medical, Inc. “We are pleased to offer Kiva through the Novation portfolio, which serves nearly half of all surgeries performed in the U.S.”
About the Kiva® VCF Treatment System
The Kiva VCF Treatment System provides a new implant-based approach to vertebral augmentation in the treatment of painful VCFs. Kiva was recently launched in the U.S. and it is commercially available in Europe. Kiva has been shown, in at least three comparative studies with a total of more than 500 patients, to meet or exceed the performance of balloon kyphoplasty, the standard of care. Kiva is indicated for the reduction and treatment of spine fractures in the thoracic and/or lumbar spine from T6-L5. It is intended to be used in combination with the Benvenue Vertebral Augmentation Cement Kit.
About Benvenue Medical, Inc.
Founded in 2004, Benvenue Medical, Inc. (www.benvenuemedical.com) provides next generation minimally invasive systems for spine repair that combine expandable implants with novel delivery instruments to provide enduring functional benefits for patients. The company is privately held and funded by InterWest Partners, Versant Ventures, DeNovo Ventures, Domain Associates and Technology Partners. Its first products are designed for the treatment of vertebral compression fractures and degenerative disc disease, which have combined revenues of $9 billion globally. For more information, visit www.benvenuemedical.com.
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