BioStem Technologies Establishes National Pricing for Vendaje AC® from the Center for Medicare Services and Provides Reimbursement in All MAC Regions
BioStem Technologies (OTC: BSEM) has announced that the Center for Medicare Services (CMS) has established national pricing for its allograft product, Vendaje AC® in all Medicare Administrative Contractor (MAC) regions, effective October 1, 2024. This allows BioStem to begin marketing Vendaje AC nationwide within the MAC regions.
The company will commercialize Vendaje AC through Venture Medical , a premier commercialization provider in the U.S. wound care market. Venture Medical, which has an extensive wound care sales team, is currently supporting BioStem with the successful launch of AmnioWrap2® and will now lead the distribution and marketing efforts for Vendaje AC nationwide.
BioStem Technologies (OTC: BSEM) ha annunciato che il Centro per i Servizi Medicare (CMS) ha stabilito prezzi nazionali per il suo prodotto allograft, Vendaje AC® in tutte le regioni dei Contratti Amministrativi Medicare (MAC), a partire dal 1 ottobre 2024. Ciò consente a BioStem di iniziare a commercializzare Vendaje AC a livello nazionale nelle regioni MAC.
L'azienda commercializzerà Vendaje AC attraverso Venture Medical, un fornitore leader nella commercializzazione nel mercato americano della cura delle ferite. Venture Medical, che dispone di un ampio team di vendita nel settore delle cure per le ferite, sta attualmente supportando BioStem con il lancio di successo di AmnioWrap2® e ora guidarà gli sforzi di distribuzione e marketing per Vendaje AC a livello nazionale.
BioStem Technologies (OTC: BSEM) ha anunciado que el Centro de Servicios de Medicare (CMS) ha establecido precios nacionales para su producto de aloinjerto, Vendaje AC® en todas las regiones de Contratos Administrativos de Medicare (MAC), a partir del 1 de octubre de 2024. Esto permite a BioStem comenzar a comercializar Vendaje AC a nivel nacional dentro de las regiones MAC.
La empresa comercializará Vendaje AC a través de Venture Medical, un proveedor líder en la comercialización en el mercado estadounidense de cuidado de heridas. Venture Medical, que cuenta con un extenso equipo de ventas en la atención de heridas, está apoyando actualmente a BioStem con el exitoso lanzamiento de AmnioWrap2® y ahora dirigirá los esfuerzos de distribución y marketing para Vendaje AC a nivel nacional.
BioStem Technologies (OTC: BSEM)는 Medicare 서비스 센터(CMS)가 국가 가격을 Vendaje AC®의 이종이식 제품에 대해 모든 Medicare 관리 계약자(MAC) 지역에서 2024년 10월 1일부터 시행한다는 것을 발표했습니다. 이는 BioStem이 Vendaje AC를 전역에 마케팅을 시작할 수 있게 합니다.
회사는 Venture Medical을 통해 Vendaje AC를 상용화할 예정이며, Venture Medical은 미국 상처 치료 시장에서 주요 상용화 공급업체입니다. Venture Medical은 광범위한 상처 치료 영업 팀을 보유하고 있으며, 현재 BioStem의 AmnioWrap2® 출시를 성공적으로 지원하고 있으며, 이제 Vendaje AC의 국가적 유통 및 마케팅 노력을 이끌 것입니다.
BioStem Technologies (OTC: BSEM) a annoncé que le Centre des services Medicare (CMS) a établi des prix nationaux pour son produit de greffon, Vendaje AC® dans toutes les régions des entrepreneurs administratifs Medicare (MAC), à partir du 1er octobre 2024. Cela permet à BioStem de commencer à commercialiser Vendaje AC à l'échelle nationale dans les régions MAC.
L'entreprise commercialisera Vendaje AC par l'intermédiaire de Venture Medical, un fournisseur de commercialisation de premier plan sur le marché des soins des plaies aux États-Unis. Venture Medical, qui dispose d'une vaste équipe de vente en soins des plaies, soutient actuellement BioStem dans le lancement réussi de l'AmnioWrap2® et dirigera désormais les efforts de distribution et de marketing pour Vendaje AC à l'échelle nationale.
BioStem Technologies (OTC: BSEM) hat angekündigt, dass das Center for Medicare Services (CMS) nationale Preise für sein Allotransplantatprodukt, Vendaje AC® in allen Regionen der Medicare Verwaltungsauftragnehmer (MAC) ab dem 1. Oktober 2024 festgelegt hat. Dies ermöglicht es BioStem, mit dem Marketing von Vendaje AC auf nationaler Ebene zu beginnen innerhalb der MAC-Regionen.
Das Unternehmen wird Vendaje AC über Venture Medical vermarkten, einen führenden Vermarktungsanbieter im US-Markt für Wundversorgung. Venture Medical, das über ein umfangreiches Vertriebsteam für die Wundversorgung verfügt, unterstützt BioStem derzeit bei der erfolgreichen Einführung von AmnioWrap2® und wird nun die Vertriebs- und Marketingbemühungen für Vendaje AC auf nationaler Ebene leiten.
- National pricing established for Vendaje AC® in all MAC regions
- Expansion of marketing for Vendaje AC nationwide
- Partnership with Venture Medical for commercialization
- Potential for increased accessibility to patients across the country
- None.
Vendaje AC to launch across MAC regions nationwide through Venture Medical, the Company’s exclusive sales and marketing partner for AmnioWrap2®
POMPANO BEACH, Fla., Oct. 15, 2024 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC: BSEM), a leading MedTech company focused on the development, manufacture, and commercialization of placental-derived biologics for advanced wound care, today announced that the Center for Medicare Services (CMS) has established national pricing for its allograft product, Vendaje AC® in all Medicare Administrative Contractor (MAC) regions. This pricing announcement effective as of October 1, 2024, allows BioStem to begin marketing Vendaje AC nationwide within the MAC regions.
BioStem will commercialize Vendaje AC through Venture Medical LLC, a premier commercialization provider in the U.S. wound care market. Venture Medical, which has an extensive wound care sales team, is currently supporting BioStem with the successful launch of AmnioWrap2® and will now lead the distribution and marketing efforts for Vendaje AC nationwide.
Jason Matuszewski, CEO of BioStem Technologies Inc., commented: “With CMS's national pricing approval, Vendaje AC is now accessible to more patients across the country, representing a major milestone in our mission to improve advanced wound care. We are thrilled to partner with Venture Medical to bring Vendaje AC to a broader audience. Their expertise in the wound care market will be invaluable as we continue to deliver innovative solutions for patients in need.”
John Schroeder, CEO of Venture Medical, LLC, added: “Venture Medical is uniquely positioned to partner with BioStem Technologies to address the growing need for rapid-healing modalities in chronic and post-surgical wounds. With our nation-wide, healing-focused salesforce, full-service logistical, marketing and operational solutions, and innovative software that makes inventory management easier for providers, we are thrilled to be the exclusive distributor of Vendaje AC and get it in the hands of the people who need it the most – the patients.”
About Vendaje AC®
Available by prescription through healthcare providers in all 50 states, Vendaje AC offers patients with non-healing wounds an advanced wound care option that acts as a protective barrier or covering to provide an environment for wound healing and closure. Vendaje AC is a thicker human connective tissue matrix comprised of dehydrated amniotic/chorionic tissue. Manufactured using BioStem’s patented six-step proprietary BioREtain® process, Vendaje AC naturally contains extracellular matrix scaffolding, which provides mechanical protection and functional support for cell attachment, growth factors that help modulate proliferation and angiogenesis, and cytokines that inhibit inflammatory effects, all of which are critical in aiding the body’s natural healing cascade.
Healthcare providers or patients interested in learning more about Vendaje AC allografts can visit: https://biostemtechnologies.com/vendaje-ac-2/.
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About BioStem Technologies, Inc. (OTC: BSEM):
BioStem Technologies is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain ® processing method. BioREtain ® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (“AATB”). These systems and procedures are established per current Good Tissue Practices (“cGTP”) and current Good Manufacturing Processes (“cGMP”). Our portfolio of quality brands includes AmnioWrap 2 ™, VENDAJE ®, VENDAJE AC ®, and VENDAJE OPTIC ®. Each BioStem Technologies placental allograft is processed at the Company’s FDA registered and AATB accredited site in Pompano Beach, Florida.
For more information visit biostemtechnologies.com and follow us on Twitter and LinkedIn.
Forward-Looking Statements:
Except for statements of historical fact, this release also contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of the Company, strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: (1) the impact of any changes to the reimbursement levels for the Company’s products; (2) the Company faces significant and continuing competition, which could adversely affect its business, results of operations and financial condition; (3) rapid technological change could cause the Company’s products to become obsolete and if the Company does not enhance its product offerings through its research and development efforts, it may be unable to effectively compete;(4) to be commercially successful, the Company must convince physicians that its products are safe and effective alternatives to existing treatments and that its products should be used in their procedures; (5) the Company’s ability to raise funds to expand its business; (6) the Company has incurred significant losses since inception and may incur losses in the future; (7) changes in applicable laws or regulations; (8) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (9) the Company’s ability to maintain production of its products in sufficient quantities to meet demand; and (10) the COVID-19 pandemic and its impact, if any, on the Company’s fiscal condition and results of operations; You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
BioStem Technologies, Inc.
Phone: 954-380-8342
Website: http://www.biostemtechnologies.com
E-Mail: info@biostemtech.com
Twitter: @BSEM_Tech
Facebook: BioStemTechnologies
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
646-863-6893
FAQ
When does the national pricing for Vendaje AC® become effective for BioStem Technologies (BSEM)?
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What other product is Venture Medical currently supporting BioStem Technologies (BSEM) with?
How does the national pricing approval affect BioStem Technologies' (BSEM) market reach?
