Cardium Therapeutics announced earlier this year that it had arranged a distribution venture with Academy Medical for marketing, sale, and distribution of Excellagen, an FDA-cleared advanced gel with the ability to speed up the healing of various wounds. Perhaps the most important aspect of the agreement was the size of the customer base that it represents.
Academy Medical is a certified Veteran Owned Small Business, specializing in the distribution of medical products to Department of Veterans Affairs and Department of Defense hospitals and community-based outpatient clinics. The company is the largest distributor of biologics on the Federal Supply Schedule, and the agreement covers the Veterans Administration (VA) healthcare system and military hospitals.
The VA operates the biggest integrated healthcare system in the country, providing care to over 6 million patients and backed up by a budget of more than $50 billion. Their hospital network of 152 major medical centers and 800 community-based outpatient clinics handles approximately 900,000 inpatient hospital admissions each year, and nearly 80 million outpatient visits. With many of the health issues treated involving some form of wound care, Excellagen's cost effectiveness, ease of use, and ability to hasten wound healing, make it an ideal match.
Cardium CEO, Christopher Reinhardt, commented on how the agreement fits into Cardium's overall strategic plan for Excellagen: "As the U.S. healthcare market continues to expand due to the aging population and with the implementation of the Affordable Care Act, simpler-use and more cost-effective medical products like Excellagen have an opportunity to expand and grow within outcomes-oriented healthcare settings. Our agreement with Academy Medical expands Cardium's tactical access and distribution capabilities for Excellagen as we advance forward with our planned U.S. strategic partnering activities. We are in discussions with potential strategic partners to establish representation, marketing and sales, or co-promotional arrangements along four U.S. vertical wound healing market channels: (1) podiatry, (2) wound care centers, hospitals, and long-term care facilities, (3) government medical service providers; and (4) dermatology."
For additional information, visit www.CardiumTHX.com
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