ALBANY, N.Y., July 21, 2014 (GLOBE NEWSWIRE) -- AngioDynamics (Nasdaq:ANGO), a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, announced today receipt of an Innovative Technology Contract for the Company's BioFlo PICC and BioFlo Port products from Novation, the leading health care supply chain expertise, analytics and contracting company.
Novation serves the more than 100,000 members and affiliates of VHA Inc., UHC, Children's Hospital Association and Provista. In 2013, health care organizations purchased $49 billion of products and services through Novation contracts. This represents 40 percent of the staffed beds in the U.S., 45 percent of U.S. admissions, 47 percent of the nation's total surgeries and 94 percent of academic medical centers.
"This is the first Novation contract covering both PICCs and Ports in AngioDynamics' history, and it is a testament to our BioFlo technology, as well as the value the Navilyst transaction has brought to the Company," said Joseph M. DeVivo, AngioDynamics' President and Chief Executive Officer. "We are pleased to introduce this new technology to the hospital providers that Novation serves as they look to improve patient outcomes and reduce healthcare costs. We believe this Innovative Technology Contract provides further market validation that BioFlo is truly a differentiated technology with unique benefits. Unlike other thromboresistant products, the technology behind our disruptive BioFlo devices is designed to be both present throughout the
entire catheter and permanent, leading to decreased accumulation of catheter-related thrombus without incorporation of heparin, antibiotics or antimicrobials, or any other transient materials typically associated with coated or impregnated technologies."
Novation's Innovative Technology program seeks to identify and contract for innovative medical products used in the clinical care of patients that offer an incremental benefit to patient care, or patient or health care worker safety. The process includes review by a clinical member council or task force to determine whether the technology represents an incremental advantage for providers. BioFlo products are manufactured with Endexo technology, a permanent and non-eluting integral polymer, designed to provide more resistance to the accumulation of platelets and thrombus for the life of the catheter.1 This Innovative Technology Contract will have the "anti-thrombogenic" contract number MS2930.
"We feel the vascular access products in our BioFlo platform feature the most advanced thromboresistant technology available today, representing our commitment to bringing technologies to market that enhance our customers' clinical and economic value," said Chuck Greiner, Senior Vice President of AngioDynamics' Global Vascular Access Franchise. "Being selected by Novation for our BioFlo PICC and BioFlo Port products is an affirmation of that belief."
1The resistance to thrombus accumulation was evaluated using in-vitro and in-vivo models. Pre-clinical in-vitro and in-vivo evaluations do not necessarily predict clinical performance with respect to thrombus formation.
AngioDynamics Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. AngioDynamics' diverse product lines include market-leading ablation systems, fluid management systems, vascular access products, angiographic products and accessories, angioplasty products, drainage products, thrombolytic products and venous products. More information is available at www.AngioDynamics.com.
About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply chain expertise, analytics and contracting company for the more than 100,000 members and affiliates of VHA Inc. and UHC, two national health care alliances, Children's Hospital Association, an alliance of the nation's leading pediatric facilities, and Provista, LLC. Novation provides alliance members with sourcing services, as well as information and data services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 800 suppliers. Members of VHA, UHC, Children's Hospital Association and Provista used Novation contracts to purchase approximately $49 billion in 2013. Novation has earned the coveted Ethics Inside®
Certification from Ethisphere Institute, a leading international think tank dedicated to the research and promotion of best practices in corporate ethics and compliance. Novation was also named on Ethisphere's World's Most Ethical Companies list and is the only company in the health care industry to earn both distinctions for three consecutive years. To learn more about Novation, please visit http://www.novationco.com and follow @NovationNews.
AngioDynamics, the AngioDynamics logo, and BioFlo, are trademarks and/or registered trademarks of AngioDynamics Inc., an affiliate or a subsidiary. Endexo is a trademark of Interface Biologics. Ethics Inside is a registered trademark of the Ethisphere Institute.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ
from AngioDynamics' expectations. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and
competition, the ability of AngioDynamics to integrate purchased businesses, including Navilyst Medical and its products, R&D capabilities, infrastructure and employees as well as the risk factors listed from time to time in AngioDynamics'SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2013. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.
CONTACT: Company Contact:
AngioDynamics Inc.Mark Frost, CFO
(800) 772-6446 x1981
Investor Relations Contacts:
EVC Group, Inc.Michael Polyviou/Robert Jones
(212) 850-6020; (646) 201-5447
EVC Group, Inc.Dave Schemelia
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