OpSens Awarded Contract by Major U.S. Group Purchasing Organization
OPSENS AWARDED CONTRACT BY MAJOR U.S. GROUP PURCHASING ORGANIZATION
OptoWire gains access to more than 50 PCI centers
Quebec City, Quebec, October 14, 2020 – OpSens Inc. (“OpSens” or the “Company”) (TSX:OPS) (OTCQX:OPSSF), a medical device cardiology-focused company commercializing a second-generation fiber optic pressure guidewire to diagnose and treat coronary disease, announced today it has been awarded a 3-year contract by a major American Group Purchasing Organization (GPO). This new contract will provide access to the OptoWire to all their members across the United States.
Louis Laflamme, President and Chief Executive Officer of OpSens, commented, “We are delighted to announce this new partnership, with one of the largest GPOs in the United States. Working with hospital purchasing groups is a critical initiative for the expanded U.S. commercialization of the OptoWire, as this agreement provides access to significantly more cathlabs in the country. This contract is recognition that the OptoWire improves efficiency and saves significant costs while aligning with our partner’s mission to better treat their patients.”
“The OpSens OptoWire is a modern pressure guidewire designed for contemporary clinical practice to diagnose, treat and confirm results in coronary arteries,” added Mr. Laflamme. “With the OptoWire, you can navigate through complex anatomies, deliver a stent without guidewire exchange, choose among different hyperemic and resting indices to assess coronary physiology, and confirm treatment with easy and reliable post-PCI measurements. The accuracy of the device, or absence of drift, cuts time and costs from the procedure and provides confidence in the diagnosis with consistent and repeatable measurements.”
Coronary artery disease is the blockage or narrowing (stenosis) of the arteries that supply blood to the heart muscle, often due to a buildup of fatty plaque inside the arteries, which may cause a heart attack. The FAME Study showed that when Fractional Flow Reserve (FFR) is used prior to percutaneous coronary intervention (PCI), patients’ outcomes are improved with Major Adverse Cardiac Events significantly reduced.
OptoWire offers physicians several competitive advantages, including superior steerability, improved accuracy through the lowest drift in the industry, and freedom in workflow allowing for easy disconnect and reconnect to diagnose and deliver stents on the same guidewire. Since OptoWire’s approval in 2015, more than 100,000 patients have been evaluated or treated utilizing the system.
OpSens focuses mainly on coronary physiology products in interventional cardiology. OpSens offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access. The OptoWire has been used in the diagnosis and treatment of over 100,000 patients in more than 30 countries. It is approved for sale in the United States, European Union, Japan, and Canada.
OpSens is also involved in industrial activities in developing, manufacturing, and installing innovative fiber optic sensing solutions for critical applications.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of OpSens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Louis Laflamme, CPA, CA, Chief Executive Officer, 418.781.0333
Robin Villeneuve, CPA, CA Chief Financial Officer, 418.781.0333