Dynatronics Corporation Announces Extension of Key Distribution Agreement

Rhea-AI Summary

Dynatronics Corporation (NASDAQ:DYNT) announced the renewal of its group purchasing agreement with Intalere, extending their partnership through January 2024. Bird & Cronin, a wholly-owned subsidiary, has been a preferred provider for over 20 years, aiding Intalere's mission to enhance healthcare. The deal allows Intalere's more than 100,000 members access to competitive pricing on a range of orthopedic bracing solutions, including key products like the Sprint air walker boot. This agreement is expected to support better financial, operational, and clinical performance for healthcare providers.

Positive

• Renewal of the purchasing agreement with Intalere through January 2024 provides stability.
• Over 100,000 Intalere members can now access competitive pricing on Bird & Cronin's products.
• Long-standing partnership (20+ years) enhances credibility and ongoing support for healthcare providers.

Negative

• None.

Bird & Cronin Renews Group Purchasing Agreement with Intalere for Orthopedic Soft Goods and Bracing

EAGAN, MN / ACCESSWIRE / February 24, 2021 / Dynatronics Corporation (NASDAQ:DYNT), a leading manufacturer of athletic training, physical therapy, and rehabilitation products, announced today that its wholly-owned subsidiary, Bird & Cronin, LLC, renewed its purchasing agreement with Intalere, one of the leading national group purchasing organizations in the healthcare industry. The new agreement which extends the partnership through January 2024 was also announced by Intalere at https://www.intalere.com/newsroom/id/1557/orthopedic-bracing-solutions-available-to-intalere-members-through-agreement-with-bird-cronin.

Bird & Cronin has been an Intalere preferred provider for over twenty years, supporting Intalere's growth and mission to elevate patients' healthcare by designing solutions to improve members' financial, operational and clinical performance. Intalere members will receive negotiated pricing on our full line of orthopedic bracing solutions for spine, upper and lower extremities including key products such as the Sprint^® air walker boot and U2^TM wrist brace. With more than 100,000 members from healthcare organizations all over the country, Intalere members make nearly $9 billion in purchases annually.

"The twenty-plus year relationship with Intalere has allowed Bird & Cronin to provide healthcare providers with Bird & Cronin's high-quality products at the right cost," said John Krier, CEO of Dynatronics. "Our employees are excited to support Intalere's mission and empower administrators, supply chain teams, and clinicians to focus on patients through the utilization of Bird & Cronin bracing and support products."

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Those statements include references to the Company's expectations and similar statements. Such forward-looking statements reflect the views of management at the time such statements are made. These statements include references to our financial guidance, expected revenues, gross profit, and selling, general, and administrative expenses. These forward-looking statements are subject to a number of risks, uncertainties, estimates, and assumptions that may cause actual results to differ materially from current expectations including uncertainties involving the impact of the COVID-19 pandemic. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in the Company's most recent filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2020, which was filed on September 24, 2020. Dynatronics does not undertake to update its forward-looking statements, whether as a result of new information, future events, or otherwise.

About Dynatronics Corporation

Dynatronics Corporation is a leading medical device company committed to providing high-quality restorative products designed to accelerate achieving optimal health. The company designs, manufactures, and sells a broad range of products for clinical use in physical therapy, rehabilitation, pain management, and athletic training. Through its distribution channels, Dynatronics markets and sells to orthopedists, physical therapists, chiropractors, athletic trainers, sports medicine practitioners, clinics, hospitals, and consumers. The company's products are marketed under a portfolio of high-quality, well-known industry brands including Bird & Cronin®, Dynatron Solaris®, Hausmann™, Physician's Choice®, and PROTEAM™, among others. More information is available at www.dynatronics.com.

About Intalere:

Intalere's mission focuses on elevating the health of healthcare by designing solutions to improve our members' financial, operational and clinical performance. We empower our customers and deliver measurable results through our highly personalized approach of creating strategies and programs focused on their goals. From managing their entire spend to strategic consulting around diagnosing particular areas of concern, our unique provider led model allows us to leverage nationally recognized best practices in supply chain and patient outcomes to drive efficiencies for our members. To learn more, visit www.intalere.com.

Investor Contacts:

Dynatronics Corporation
Investor Relations
Skyler Black
(801) 676-7201
skyler.black@dynatronics.com

Darrow Associates
Peter Seltzberg, Managing Director
(516) 419-9915
pseltzberg@darrowir.com

For additional information, please visit: www.dynatronics.com
Connect with Dynatronics on LinkedIn

SOURCE: Dynatronics Corporation

View source version on accesswire.com:
https://www.accesswire.com/631713/Dynatronics-Corporation-Announces-Extension-of-Key-Distribution-Agreement

FAQ

What is the significance of Dynatronics' renewed agreement with Intalere?

The renewal extends their partnership through January 2024, providing Intalere members access to competitive pricing on orthopedic products.

How long has Bird & Cronin been a preferred provider for Intalere?

Bird & Cronin has been a preferred provider for over 20 years.

What products will Intalere members receive pricing on through Bird & Cronin?

Members will receive negotiated pricing on orthopedic bracing solutions, including products like the Sprint air walker boot.

How many members are in Intalere's network?

Intalere has more than 100,000 members from various healthcare organizations.

What does the partnership mean for healthcare providers?

It is expected to improve their financial, operational, and clinical performance.