WALTHAM, Mass., Feb. 24, 2015 /PRNewswire/ -- TEI Biosciences Inc. (“TEI”), a leading biomedical company that applies its expertise in regenerative medicine to develop and commercialize novel biologic devices for a broad spectrum of soft tissue repair and regeneration applications, announced today that it has signed a national agreement with Novation, the nation’s leading health care services company. The three-year contract begins April 1st, 2015, and will make TEI’s biologic mesh available to more than 100,000 members and affiliates of VHA Inc., UHC, Children’s Hospital Association and Provista LLC.
“The Novation contract award is a recognition of both the strong clinical efficacy and powerful economic value our SurgiMend products can provide the Novation member hospitals,” said Yiannis Monovoukas, PhD, MBA, TEI’s Chairman, President and CEO. “This agreement strengthens TEI’s ability to work with the thousands of hospitals served by Novation, and we are delighted that more patients than ever may now benefit from the regenerative and life-changing effects of our SurgiMend platform technology,” added Dr. Monovoukas.
About SurgiMend and SurgiMend PRS
SurgiMend® and SurgiMend® PRS are acellular collagen matrices designed specifically for plastic and reconstructive surgery and hernia repair, and made of pure collagen that provides weakened and damaged tissues sound support for rapid healing without inflammation. They are derived from young bovine dermis, one of the richest sources of Type III collagen available. Type III collagen mediates tissue healing and growth while inhibiting scarring. Intraoperatively, the matrix is seeded with the patient’s tissue-building cells and growth factors, and is rapidly revascularized to support healing, tissue building, and prolonged reinforcement.
About TEI Biosciences Inc.
TEI Biosciences is a Waltham, MA-based, privately-held, leading biomedical company that applies its expertise in regenerative medicine to develop and commercialize novel biologic devices for a broad spectrum of soft tissue repair and regeneration applications from dura and hernia repair to plastic and reconstructive surgery.
TEI Biosciences sells its products directly and through partnerships with some of the world’s major medical device companies. TEI Biosciences’ marketed products include:
- SurgiMend® and SurgiMend® PRS for plastic and reconstructive surgery, soft tissue reconstruction, hernia repair, and muscle flap reinforcement
- Durepair® for cranial dura repair (marketed by Medtronic)
- Xenform for pelvic floor reconstruction (marketed by Boston Scientific)
About Novation, Recipient of the Ethisphere Institute’s Ethics Inside® Certification
Novation is the nation’s leading health care services company, focused on revolutionizing operational performance for more than 100,000 members and affiliates of VHA Inc., UHC, Children’s Hospital Association and Provista LLC. Novation’s progressive approach to cost performance, data and intelligence, and integrated advisory solutions helps health care providers envision and advance new models of cost-effective, high-quality care. Headquartered in Irving, Texas, Novation is committed to the highest standards of ethical behavior and twice has been honored with the Ethisphere Institute’s coveted Ethics Inside® Certification, and has been named three years consecutively to Ethisphere’s World’s Most Ethical Companies list. To learn more about Novation, please visit novationco.com and follow @NovationNews on Twitter.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tei-biosciences-receives-major-contract-with-countrys-leading-health-care-services-company-novation-to-bring-biologic-mesh-products-to-hundreds-of-thousands-of-patients-nationwide-300040056.html
SOURCE TEI Biosciences Inc.
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