InnerDyne Signs Agreement With Premier Purchasing Partners for Step Family of Radially Dilatable Access Devices.Business & Health Editors SUNNYVALE, Calif.--(BW HealthWire)--May 24, 2000 InnerDyne, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: IDYN) today announced the signing of a multi-year agreement with Premier Purchasing Partners, L.P, one of the nation's leading group purchasing organizations A group purchasing organization is an entity that leverages the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. Many GPOs are funded by administrative fees that are actually paid by the vendors. for medical supplies and services. This agreement will facilitate the purchase of InnerDyne's Step(TM) family of radially dilatable di·late v. di·lat·ed, di·lat·ing, di·lates v.tr. To make wider or larger; cause to expand. v.intr. 1. To become wider or larger; expand. 2. access devices for minimally invasive surgery minimally invasive surgery Laparoscopic surgery, see there. See Laparoscopic cholecystectomy. by more than 1,800 member institutions within the Premier system, including leading hospitals and healthcare sites. "We are pleased to have had the opportunity to participate in Premier's progressive 'Breakthrough Technology' assessment and contracting process. This agreement signifies Premier's recognition that our proprietary radial dilation dilation /di·la·tion/ (di-la´shun) 1. the act of dilating or stretching. 2. dilatation. di·la·tion n. 1. technology has the potential to significantly enhance patient safety and improve patient outcomes within the Premier system," said Daniel J. Genter, InnerDyne's Senior Vice President. "More than 30 peer-reviewed and published comparative product evaluations have demonstrated that Step(TM) offers fewer complications and less post-operative pain compared with conventional bladed trocars. While a number of Premier's members have purchased the Step(TM) product line to date, this agreement should facilitate the availability of Step(TM) products to all physicians and hospitals who want to offer their patients this alternative." In further commenting on the agreement, William G. Mavity, InnerDyne's President and Chief Executive Officer, noted, "InnerDyne has worked diligently to provide documented clinical evidence of the substantial benefits our Step(TM) product family can offer to laparoscopic Laparoscopic A minimally-invasive surgical or diagnostic procedure that uses a flexible endoscope (laparoscope) to view and operate on structures in the abdomen. Mentioned in: Obstetrical Emergencies surgical patients, by reducing the risk of access-related complications and by facilitating a rapid return to full function. It is rewarding to have this fact recognized through the 'Breakthrough Technology' process that Premier has put in place to help make new, beneficial technologies more easily available to their member institutions." Premier is a joint venture of approximately 215 independent not-for-profit health systems in 50 states. Collectively, these systems operate or are affiliated with about 1,800 hospitals and other healthcare sites across the nation. Premier's owners include some of the nation's largest and best-known not-for-profit hospital and healthcare systems and referral centers, as well as strong community hospitals, generally mirroring the composition of the hospital/health system industry in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Its members use the alliance to transfer best practices and support new emerging healthcare technologies. InnerDyne, Inc. designs, develops, manufactures and commercializes minimally invasive surgical access products incorporating its proprietary radial dilation technology. The Company also is pursuing applications for radial dilation in areas outside its primary market focus, and improvements in its proprietary biocompatible biocompatible /bio·com·pat·i·ble/ (-kom-pat´i-b'l) being harmonious with life; not having toxic or injurious effects on biological function. coatings technologies, which it intends to commercialize either internally or through strategic alliances. Except for the historical information contained herein, this news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties, including those risks detailed from time to time in the Company's regulatory filings, including the annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999, and the Forms 10-Q for the quarters ended in 2000, as or to be filed with the Securities and Exchange Commission. |
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