A Medical Device Daily Staff Report
Vivakor (Pleasant Hill, Iowa) has entered into an exclusive licensing agreement with MIT Holding (Savannah, Georgia) to manage all distribution of its Vivathermic Vials worldwide.
The Vivathermic Vials are specialized cryovials that can accommodate an improved method of cryopreservation of cells, blood, and other bio-materials. When cryopreserving biological materials, the rate of cooling is the main factor affecting the cell viability. Material choice and design features of cryovials are critical parameters affecting the cooling rate. Existing cryovials do not allow for rapid freezing. They are usually manufactured from conventional polypropylene which is a poor thermally conductive material. In addition, they offer no special design features to enhance heat transfer.
"This is a great step forward in the distribution of Vivakor technology. Our Vivathermic vials are the most sensitive vials on the market for biological transportation and storage. Vivathermic vials are used in all aspects of biological preservation including the most sensitive stem cells. We envision the demand for Vivathermic vials will continue to increase over the next five years as these vials could become the standard for all biological storage and transportation. Vivakor searched for a distribution partner that shared its vision of extending the length and quality of life while also increasing the value of the technology and enhancing shareholder value. This distribution agreement with MIT Holding creates a distribution opportunity and a long-term commercialization partner for Vivakor Technologies," said Matt Nicosia, chairman of Vivakor.
Vivakor is a company with transdisciplinary research that develops and acquires products in the fields of molecular medicine, electro-optics, biological handling and natural and formulary compounds that extend or improve life. MIT, through its three subsidiaries, distributes wholesale pharmaceuticals, administers intravenous infusions, operates an ambulatory center where therapies are administered, and sells and rents home medical equipment.
In other agreements/contracts news:
• Valley Medical Center (VMC; Renton, Washington) said it saved more than $1 million by restoring its Premier (Charlotte, North Carolina) healthcare alliance partnership.
Last spring, growing pressures from healthcare reform and the recent economic turmoil prompted VMC, which left Premier in 2007, to return to Premier as an affiliate of PeaceHealth (Bellevue, Washington), a faith-based, not-for-profit health system serving communities in Alaska, Washington and Oregon.
By restoring its partnership, VMC said it saved $1.04 million.
"I've been in healthcare materials management for many years. Going back to Premier was the smoothest conversion I've ever experienced," said Lindy Dillingham, materials management director at VMC.
• Outcome Sciences (Cambridge, Massachusetts), a provider of patient registries, technologies for evaluating real-world outcomes, and quality reporting services for healthcare providers, said it has been selected as a Medical Group Management Association (MGMA) AdminiServe partner. As an AdminiServe partner, Outcome will provide MGMA members with registry reporting services for the Centers for Medicare & Medicaid Services' (CMS) Physician Quality Reporting Initiative (PQRI) at preferred pricing.
Outcome was chosen to be part of the MGMA AdminiServe Partner Network, a group of select, peer-reviewed and tested vendors. By using AdminiServe partners, MGMA members receive special pricing, education and expert advice. Selected companies have to complete a comprehensive review and pilot process, which can take up to 18 months. The process includes member interviews and surveys aimed at determining the market need, satisfaction of member use, and quality of the product or service; a 90% or higher member satisfaction rate is required to become part of the network.