REG - AOTI, Inc. - 5 Year Veterans Administration Contract Extension

AotiAnnouncement

12/12/2024 07:00

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RNS Number : 7710P  AOTI, Inc.  12 December 2024

12 December 2024

 

 

AOTI, INC. (the "Company" or "Group" or "AOTI")

 

AOTI Awarded Five Year Extension To Veterans Administration Contract

 

AOTI, INC., a medical technology group focused on the durable healing of
wounds and prevention of amputations, is pleased to announce that it has been
awarded another five-year extension to its Federal Supply Schedule (FSS)
contract for its Topical Wound Oxygen (TWO(2)(®)) therapy and NEXA NPWT
products by the U.S. Department of Veterans Affairs (VA).

 

The Veterans Health Administration is America's largest integrated health care
system, providing care at 1,380 health care facilities
(https://www.va.gov/directory/guide/division_flsh.asp?dnum=1) , including 170
medical centers and 1,193 outpatient sites of care, serving 9.1 million
enrolled veterans each year.

 

The VA FSS programme supports the healthcare requirements of the VA and other
federal Government agencies by negotiating contracts with pre-approved vendors
for fixed most favoured customer pricing, providing them access to medical
equipment, supplies, pharmaceutical, and service programmes that totalled over
$18.9 billion during fiscal year 2023.

 

The Company's FSS contract is now active through to 14 June 2029, enabling
AOTI to continue to provide its multi-modality TWO(2)(®) therapy and NEXA
NPWT products to clinicians and veterans within the VA and other federal
healthcare programmes. The Company was first awarded an FSS contract in 2009
and has since treated thousands of veterans across the US, with its unique
TWO(2)(®) therapy, which is differentiated from all other wound treatment
modalities by its clinically proven ability to more durably heal wounds, save
limbs and reduce costs.

 

Dr. Mike Griffiths, Chief Executive Officer and President of AOTI, INC.,
commented: "We have proudly served the veteran community for over 15 years. We
are delighted to be awarded a new five-year extension to our contract which
has consistent pricing and some improved terms, allowing us to continue to
strengthen our effective partnership. Promoting health equity and addressing
outcome disparities in patients with non-healing wounds is central to our
mission at AOTI. Our unique TWO(2)(®) therapy has revolutionised chronic
wound healing by providing significant reductions in wound related
reoccurrence, hospitalisations and amputations(1,2). With TWO(2)(®) therapy
being primarily applied by veterans at home, we are driving meaningful
improvements in access-to-care for those who need it most."

 

1. Multinational, Multicenter, Randomized, Double-Blinded, Placebo-Controlled
Trial to Evaluate the Efficacy of Cyclical Topical Wound Oxygen (TWO2) Therapy
in the Treatment of Chronic Diabetic Foot Ulcers; The TWO2 Study. Robert G.
Frykberg et al, Diabetics Care 2020; 43:616-624.
https://doi.org/10.2337/dc19-0476.

 

2. Reduced Hospitalizations and Amputations in Patients with Diabetic Foot
Ulcers Treated with Cyclical Pressurized Topical Wound Oxygen Therapy:
Real-World Outcomes; Jessica Izhakoff Yellin, et al; Advances in Wound Care
2022; http://doi.org/10.1089/wound.2021.0118
(http://doi.org/10.1089/wound.2021.0118)

 

END

 

 AOTI, INC.

 Dr. Mike Griffiths, Chief Executive Officer   +44 (0)20 3727 1000

 Jayesh Pankhania, Chief Financial Officer     ir@aotinc.net (mailto:ir@aotinc.net)

 Peel Hunt LLP (Nominated Adviser and Broker)

 Dr. Christopher Golden, Patrick Birkholm      +44 (0)20 7418 8900

 FTI Consulting (Financial PR & IR)

 Ben Atwell, Simon Conway,                     +44 (0)20 3727 1000

 Natalie Garland-Collins, Alex Davis           AOTI@fitconsulting.com (mailto:AOTI@fitconsulting.com)

 

 

ABOUT AOTI, INC.

 

AOTI, INC. was founded in 2006 and is based in Oceanside, California, US and
Galway, Ireland, providing innovative solutions to resolve severe and chronic
wounds worldwide. Its products reduce healthcare costs and improve the quality
of life for patients with these debilitating conditions. The Company's
patented non-invasive Topical Wound Oxygen (TWO(2)(®)) therapy has
demonstrated in differentiating, robust, double-blinded randomised controlled
trials (RCT) and real-world evidence (RWE) studies to more-durably reduce the
recurrence of Diabetic Foot Ulcers (DFUs), resulting in an unprecedented 88
per cent reduction in hospitalisations and 71 per cent reduction in
amputations over 12 months. TWO(2)(®) therapy can be administered by the
patient at home, improving access to care and enhancing treatment compliance.
TWO(2)(®) therapy has received regulatory clearance from the US (FDA), Europe
(CE Mark), UK (MHRA), Health Canada, the Chinese National Medical Products
Administration, Australia (TGA) and in Saudi Arabia. Also see www.aotinc.net
(http://www.aotinc.net)

 

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