A Medical Device Daily
AdvanSource Biomaterials (Wilmington, Massachusetts), a developer of polymer materials for medical devices, reported that it has entered into a multi-year development agreement with an undisclosed international medical device company.
The agreement calls for the development of a specialized solution-based polymer designed to meet the key characteristics required to optimize device performance. Upon successful development of the specified polymer the companies will work together to finalize execution of a multi-year supply agreement.
Financial details were not disclosed, but the deal does include an annual usage fee per end-product incorporation and commercialization. Presently, the solution based polymer is being positioned for use across multiple product lines to be initiated over the next three to five years.
Khristine Carroll, AdvanSource's vice president of sales and marketing, said, "This is a significant step in our vertical integration strategy, which includes our commitment to developing solution-based polymers designed to meet the specific requirements of our customers. We are very enthusiastic about the response we have received from the device industry and by the extension of partnership that an agreement such as this represents."
Michael Adams, president/CEO of AdvanSource, said, "We believe this new development relationship is important in validating our business model; the key driver being our ability to leverage our biomaterials technology and capabilities in partnership with developers and manufacturers of medical devices."
In other agreements/contracts news:
• Masimo (Irvine, California) and GS Elektromedizinische Gerate G. Stemple (Kaufering, Germany), jointly reported a worldwide technology licensing agreement to integrate Masimo Rainbow SET Pulse CO-Oximetry into GS' patient monitoring modules. The agreement enables GS to expand the vital signs and noninvasive measurement capabilities of its defibrillators and patient monitoring systems to help EMS professionals detect and treat life-threatening conditions earlier.
• Cigna HealthCare (Phoenix) reported that it's one of four companies to be awarded a contract to provide medical benefits to Arizona's state employees, university employees and retirees. The contract becomes effective Oct. 1.
New Cigna customers from the State of Arizona will have access to a variety of programs and resources to help to maintain and improve their health.
• Enterprise Technology Solutions (Rancho Cordova, California) and Health Net Federal Services reported that they have been awarded a contract by the Department of Veterans Affairs Health Administration Center (VA HAC) to provide recovery audit services of VA payments made for non-VA hospital care to veterans. As the prime contractor for this agreement, ETS will provide program management, and Health Net Federal Services, the prime subcontractor, will provide technical and operational expertise.