Bone and tissue regeneration specialist Osteopore gains access to US Federal healthcare facilities
Health & Biotech
Health & Biotech
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The agreement in the US will see Osteopore’s FDA-cleared products sold to healthcare facilities operated by the US federal government numbering more than 500 locations across the country.
Regenerative bone & tissue implant specialist, Osteopoere (ASX:OSX), announced that its US based distributor Bioplate Inc has secured a non-exclusive distribution agreement with MellingMedical LLC.
The agreement will see Osteopore products marketed and sold to healthcare facilities owned or operated by the US federal government.
Under the terms, MellingMedical will market Osteopore’s FDA-cleared products to these healthcare facilities both domestically and internationally.
The initial focus will be supplying products to the Veteran’s Affairs and Department of Defense facilities that have neuro and trauma surgery capabilities.
MellingMedical currently offers federal health care agencies a full array of healthcare products.
Its focus is on providing military veterans access to cost-effective medical equipment, supplies and pharmaceuticals.
The company has access to more than 165 Veteran’s Affairs (VA) Medical Centers, 300 VA outpatient clinics, all seven Consolidated Mail Outpatient Pharmacies, and 95 Department of Defense Medical Facilities.
Osteopore executive chairman, Mark Leong, said the US is a crucial market for the company.
“This is an important and progressive milestone in the execution of our strategy of extending our presence in a key market like the USA,” Leong said.
“Working closely with MellingMedical, we now have inroads to their wide and considerable access to VA related medical facilities and clinics throughout the US, and this helps extend the footprint of our products.
“We are all enthused with this latest development and credit the team for imprinting Osteopore as a viable solution in the US cranial market.”
Osteopore’s US distributor Bioplate and Osteopore will now work with MellingMedical to apply for listing in the Federal Supplies Schedule (FSS).
A decision is anticipated within six months and if successful, Osteopore products will be available to all federal healthcare facilities.
Bioplate will now appoint sales representatives to exclusively work with MellingMedical to promote Osteopore products across their network.
Osteopore and Bioplate will also work closely with MellingMedical, to train and support Bioplate’s sales representatives to facilitate ongoing promotion at targeted neuro-trauma centers across federal healthcare facilities.
Bioplate CEO, Thomas Hopson, said: “We are excited about this agreement because it allows the VA, military hospitals, and other government facilities an opportunity to have access to this novel technology.”
“The Osteopore products address a clinical need that has not been solved with traditional cranial closure products,” Hopson added.
Meanwhile, the agreement signed between Bioplate and MellingMedical was effective on 1 August 2022, and will run for a term of one year.
There are no minimum sales thresholds in the agreement, and each party is expected to bear their own costs.
Founder and CEO of MellingMedical, Chris Melling, said: “We are amazed at the efficacy of Osteopore’s solutions and their ability to enhance and accelerate the body’s natural regenerative processes.”
“Their technology’s potential to improve the quality of life for patients recovering from injury or even congenital skeletal defects is a game changer.”
This article was developed in collaboration with Osteopore, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.