A Medical Device Daily
Medafor (Minneapolis and Stockholm) has signed a long-term raw material supply agreement with Magle Life Sciences (Lund, Sweden), the supplier of the key powder component for Medafor's patented Microporous Polysaccharide Hemosphere (MPH) surgical product, which is used by surgeons to control bleeding in complex surgical operations. Magle manufactures the degradable starch microsphere (DSM-A) specified and tailor made to achieve rapid hemostasis in the human body.
Gary Shope, CEO of Medafor, said, “Magle is an important partner in the ongoing development of our unique hemostatic product, and we are delighted to continue our relationship with them. This agreement ensures that Medafor will have a quality supply from a strong, reliable partner as we further our global growth strategy and continue providing this valuable technology to surgeons, hospitals and patients all over the world.“
Under the agreement, Magle will continue to exclusively supply Medafor with the DSM-A product for the next 10 years and has transferred ownership rights to the DSM-A technology and manufacturing process to Medafor in exchange for cash and 1.8 million shares of Medafor common stock. Other specific terms of the agreement are confidential.
Eddie Thordarson, CEO of Magle, said, “We are thrilled to continue our partnership with Medafor and its outstanding management team. This important transaction assures that the talented people at Magle and Medafor can continue to engage in a long-term collaborative effort to develop and enhance applications of the MPH product.“
Medafor's patented MPH absorbable hemostatic agent is a plant-based microporous, polysaccharide, flowable powder that is instantly ready to use, requires no mixing, no addition of patient blood or other components and no special handling or storage conditions.
In other agreements/contracts news
• Premier Purchasing Partners (Charlotte, North Carolina) reported new agreements for surgical patient preps have been awarded to 3M (Saint Paul, Minnesota) and CareFusion of San Diego.
Effective April 1, 2010, the agreements are available to acute care and continuum of care members of the Premier healthcare alliance.
• Patient Safety Technologies (Newtown, Pennsylvania) said that The Mount Sinai Hospital (New York) has implemented its Safety-Sponge System. “We are honored that Mount Sinai has chosen our system to further their commitment to delivering the highest standard of patient care. Through this business relationship we will strive to contribute towards their continued quest for excellence, while simultaneously helping keep costs in check,“ said Steve Kane, president/CEO of Patient Safety Technologies.