Today before the opening bell, Cardium Therapeutics announced it has entered a distribution agreement with Academy Medical, LLC to market, sell, and distribute Excellagen to U.S. government medical providers, including the Veterans Administration (VA) healthcare system and military hospitals.
An FDA-cleared gel, Excellagen is used to support advanced wound care in a broad range of dermal wounds. Academy Medical’s will initially focus on providing education and training on the use of Excellagen in the treatment of traumatic wounds, non-healing venous, pressure and diabetic ulcers, limb salvage, and post-Mohs skin cancer surgery, while supporting distribution within its growing customer base of over 35 VA and military hospitals within the U.S.
The VA operates the nation’s largest integrated healthcare system. With a healthcare budget of over $50 billion, VA has estimated more than 6.0 million patients were provided with care during over 900,000 inpatient hospital admissions and nearly 80 million outpatient visits during 2012. VA’s healthcare network includes 152 major medical centers and more than 800 community-based outpatient clinics.
“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,” commented Christopher J. Reinhard, Chairman and CEO of Cardium. “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.”
There have been important, positive findings reported by physicians using Excellagen. To review case studies, visit www.excellagen.com/surgical-wounds.html.
For more information on Cardium Therapeutics, visit www.CardiumTHX.com
About MissionIR
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
