Surmodics Awarded Thrombectomy Products Agreement with Premier, Inc.
Surmodics (Nasdaq: SRDX), a provider of medical device and in vitro diagnostic technologies, has secured a group purchasing agreement for thrombectomy products with Premier. Effective June 1, 2024, this agreement allows Premier members to access special pricing and terms for Surmodics' Pounce™ and Pounce™ Venous Thrombectomy Systems. These systems, which remove arterial and venous clots without the need for capital equipment, aim to enhance procedural efficiency and reduce the necessity for thrombolytic drugs. The partnership with Premier, which includes 4,350 U.S. hospitals and 300,000 other providers, is expected to expand Surmodics' market reach and support high-quality, cost-effective care.
- Surmodics awarded GPO agreement with Premier, potentially expanding market reach.
- Premier comprises an alliance of 4,350 U.S. hospitals and 300,000 providers.
- Special pricing and terms for Premier members may boost Surmodics' sales.
- Surmodics Pounce™ systems offer procedural efficiency without capital equipment.
- Thrombectomy systems designed to reduce the need for thrombolytic drugs.
- Partnership targets high-quality, cost-effective care solutions.
- Reliance on Premier members' discretion for uptake may limit immediate sales impact.
- Potential for competitive pressure within Premier's GPO network.
Insights
The agreement with Premier, Inc. provides Surmodics with a significant opportunity to expand its market reach within the healthcare sector. By gaining pre-negotiated pricing and terms, Surmodics can now potentially increase sales volume and revenue from its thrombectomy products. This could lead to improved financial performance in the short to medium term, as hospitals and healthcare providers within Premier's network might be more likely to adopt these products due to the cost benefits. This type of agreement often leads to predictable revenue streams, which can be beneficial for the company’s stock valuation. Investors should keep an eye on the volume of sales and any subsequent financial results stemming from this agreement.
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The introduction of mechanical, non-aspiration endovascular systems that do not require capital equipment is a significant advancement in thrombectomy treatments. Surmodics’ Pounce™ systems offer a cost-effective alternative to traditional treatments that involve thrombolytic drugs and ICU admissions. This could enhance procedural efficiency and patient outcomes, potentially driving widespread adoption. The reduction in the need for thrombolytic drugs and ICU stays not only lowers costs but also reduces patient risk and hospital burden. This innovation places Surmodics in a favorable position within the medical device market, aligning with broader healthcare trends focused on cost reduction and improved patient care.
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Securing a group purchasing agreement with Premier, Inc., which has a vast network of over 4,350 hospitals and 300,000 other providers, could substantially boost Surmodics' market penetration. This agreement positions Surmodics favorably against competitors, offering them an edge in terms of both pricing and market access. The healthcare sector's shift towards value-based care makes cost-effective solutions like Surmodics' thrombectomy systems particularly attractive. Investors should monitor the healthcare industry's response to Surmodics' offerings and any changes in market share within the thrombectomy segment.
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Access to Premier’s healthcare group purchasing organization (GPO) expected to expand national market reach for Surmodics endovascular thrombectomy solutions.
“This is an exciting development for Surmodics,” said Gary Maharaj, President and Chief Executive Officer of Surmodics. “Our Pounce Arterial and Venous Thrombectomy Systems offer physicians simplicity and procedural efficiency to remove arterial and venous clot without the need for capital equipment. We are confident that our portfolio of thrombectomy systems will contribute meaningfully to high-quality, cost-effective care throughout the Premier hospital alliance.”
The Surmodics thrombectomy portfolio comprises fully mechanical, non-aspiration endovascular systems designed to promptly remove soft or hardened blood clots from peripheral arteries (Pounce Thrombectomy and Pounce Low-Profile [LP] Thrombectomy Systems) or peripheral veins (Pounce Venous Thrombectomy System). Surmodics thrombectomy systems, which do not require capital equipment, are designed to minimize the need for physicians to remove clots using thrombolytic drugs, a treatment that typically requires overnight admission to an intensive care unit.
Premier is a leading healthcare improvement company, uniting an alliance of more than 4,350
About Surmodics, Inc.
Surmodics is a leading provider of performance coating technologies for intravascular medical devices and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays. Surmodics also develops and commercializes highly differentiated vascular intervention medical devices that are designed to address unmet clinical needs and engineered to the most demanding requirements. This key growth strategy leverages the combination of the Company’s expertise in proprietary surface modification and drug-delivery coating technologies, along with its device design, development, and manufacturing capabilities. The Company’s mission is to improve the detection and treatment of disease. Surmodics is headquartered in
About Surmodics thrombectomy products
Surmodics’ Pounce Thrombectomy platform devices are intended for the non-surgical removal of thrombi and emboli from the peripheral arterial vasculature. The Pounce LP Thrombectomy System is indicated for use in vessels ranging from 2 mm to 4 mm in diameter, sizes typical of vessels found below the knee. The Pounce LP System complements the original Pounce Thrombectomy System, introduced in 2021, which is indicated for use in vessels 3.5 mm to 6 mm in diameter.
The Pounce Venous System is indicated for mechanical de-clotting and controlled and selective infusion of physician-specified fluids, including thrombolytics, in the peripheral vasculature. The Pounce Venous System is indicated for use in vessels 6 mm to 16 mm in diameter. The Pounce Venous Systems may be used with the Pounce Sheath (12 Fr), which is intended to introduce therapeutic or diagnostic devices into the vasculature.
For more information on Pounce thrombectomy products, visit www.pouncesystem.com and www.pouncevenous.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements. Statements that are not historical or current facts, including statements regarding the expectation that access to Premier GPO members will expand the national market reach for Surmodics endovascular thrombectomy solutions, the expectation that Surmodics' portfolio of thrombectomy devices will contribute meaningfully to high-quality, cost-effective care throughout the Premier hospital alliance,, and Surmodics’ growth strategy, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated, including the willingness of Premier members to adopt use of the Surmodics thrombectomy products, and the factors identified under “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended September 30, 2023, and updated in our subsequent reports filed with the SEC. These reports are available in the Investors section of our website at https://surmodics.gcs-web.com and at the SEC website at www.sec.gov. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.
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Surmodics Investor Inquiries:
Jack Powell, Investor Relations
ir@surmodics.com
Surmodics Public Relations Inquiries:
pr@surmodics.com
Source: Surmodics, Inc.
FAQ
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