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MiMedx Group, Inc. (NASDAQ: MDXG), the leading regenerative medicine company utilizing human amniotic tissue and patent-protected processes to develop and market advanced products and therapies for the Wound Care, Surgical, Orthopedic, Spinal, Sports Medicine, Ophthalmic and Dental sectors of healthcare, announced that the status of the Company's National Account contracts with Group Purchasing Organizations ("GPOs") and Integrated Delivery Networks ("IDNs") represent in excess of 4,000 U.S hospitals under contract for MiMedx allografts.
"GPOs and IDNs have become extremely effective financial and performance improvement partners for healthcare providers," said Parker H. Petit, Chairman and CEO. "These GPOs and IDNs have proven track records for assisting providers in improving patient outcomes and reducing costs and waste. We share these same goals of improving patient outcomes while reducing costs. We are very pleased with the pace at which we have entered into contractual relationships with various GPOs and IDNs, and we attribute that success to our shared philosophy. Our peer-reviewed published clinical studies have shown that the application of our allografts results in high rates of complete wound healing, less time to achieve wound healing, reduced costs and minimal product wastage."
The Company reported that several of the GPO and many of the IDN contracts contain amniotic tissue skin substitute commitment levels for MiMedx allografts.
Bill Taylor, President and COO, commented, "We have assembled a strong National Accounts sales team, and we are in on-going negotiations with many other GPOs and IDNs. Certain of these IDNs are affiliated with the GPOs currently under contract with MiMedx, and some have other GPO affiliation. We will continue to focus on the expansion of our network of GPOs and IDNs under contract with MiMedx. We are extremely pleased that the majority of our current GPO and IDN contracts provide for the full line of MiMedx products and allografts. With the countless private, community, and specialty hospitals, along with the managed care organizations, physician networks, community health centers, home care, and other health-related providers under contract with these GPOs and IDNs, we are continually increasing the base of patients who have access to and can benefit from our clinically effective and cost effective allografts."