BELGRADE, Mont., June 16 /PRNewswire/ -- Bacterin International, Inc., a developer of revolutionary bone graft material, today announced a three-year agreement to provide its biologic line of products, OsteoSponge®, OsteoSelect®, OsteoSponge SC®, OsteoWrap®, BacFast®, and OsteoLock®, to the vast Broadlane® nationwide network of hospitals and medical practices. The group purchasing agreement through which any Broadlane customer may elect to purchase products from Bacterin, either directly or through an authorized distributor, became effective May 1, 2010, and follows several months of rigorous testing by Broadlane and its clients.
Broadlane, founded in 1999, is the largest operator of healthcare supply chains in the US, managing approximately $10 billion in contract volume, with 1,147 Independent Delivery Networks (IDNs) and hospitals, 5,175 ambulatory care and surgery centers and 33,155 physician practices in its network. Broadlane, in its capacity as a Group Purchasing Organization (GPO), proactively engages its clients to determine engagement and contract strategies. Of the $10 billion in spend processed by Broadlane contracts each year, $4 billion is managed directly by its employees on behalf of clients. Broadlane's meticulous testing focuses on value analysis and clinically aligns the contracting process, ensuring that its clients have access to the best-of-breed products to improve patients' quality of care.
"The Broadlane engagement is an important endorsement of Bacterin's products. We recognize Broadlane's strong reputation in delivering streamlined supply chain and strategic sourcing services with particularly high portfolio utilization, and we feel privileged to have been added to a select list of companies that have passed Broadlane's rigorous testing standards," commented Guy Cook, founder and CEO of Bacterin International. "Over the past year our company has begun to distribute our biologics into approximately 200 medical facilities. With this Broadlane contract, we now have the opportunity to approach over 6,000 additional medical institutions with the endorsement of a trusted GPO partner."
About Bacterin International
Bacterin processes and markets innovative, biologic allografts for transplantation. The Company's products, OsteoSponge®, OsteoSponge SC® and OsteoWrap®, are made from demineralized bone that are malleable and flexible, which enables more efficient and precise handling. It also markets BacFast® and OsteoLock®, which are used in spine surgery, designed to minimize graft back-out, and increase osteoinductivity. Bacterin's latest allograft, OsteoSelect® DBM Putty has excellent handling characteristics and is distributed as a sterile product, with osteoinductivity testing completed on every lot after terminal sterilization. Headquartered in Belgrade, Montana, Bacterin operates a 32,000 sq. ft., state-of-the-art, full compliant and FDA registered facility, equipped with five "Class 100" clean rooms.
Broadlane® is dedicated to making quality healthcare affordable. Through proprietary technology, industry-leading sourcing, and innovative services, Broadlane's staff of experts offers solutions to healthcare providers that dramatically improve operating margins. Broadlane's offerings include end-to-end supply chain management, clinical and financial analytics, purchasing portfolio management, workforce management, and a complete suite of consulting services that address Lean process transformation, supply chain best practices, capital equipment lifecycle, and clinical utilization. Broadlane serves more than 1,100 acute care hospitals and 50,000 non-acute care facilities.
The company is headquartered in Dallas with offices in Cincinnati, Detroit, Houston, Nashville, New York City and Oakland. For more information, visit broadlane.com.
This news release contains disclosures that are forward-looking statements. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "continue," "efforts," "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "strategy," "will," "goal," "target," "prospects," "potential," "optimistic," "confident," "likely," "probable" or similar expressions. These forward-looking statements are based on current expectations or beliefs and include, but are not limited to, statements about maximizing gross profit dollars and the Company's potential to achieve top and bottom line growth. Statements of historical fact also may be deemed to be forward-looking statements. We caution that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: the company's ability to meet its obligations under existing and anticipated contractual obligations; the company's ability to develop, market, sell and distribute desirable applications, products and services and to protect its intellectual property; the ability and willingness of third-party manufacturers to timely and cost-effectively fulfill orders from the company; the ability of the company's customers to pay and the timeliness of such payments, particularly during recessionary periods; the company's ability to obtain financing as and when needed; changes in consumer demands and preferences; the company's ability to attract and retain management and employees with appropriate skills and expertise; the impact of changes in market, legal and regulatory conditions and in the applicable business environment, including actions of competitors; and other factors. The company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Bacterin International, Inc.