Orthofix International Signs Three-Year Agreement to Provide Bone Growth Stimulators to UnitedHealthcare's Commercial and Government Program Business Nationwide
Posted on: Thursday, 7 December 2006, 12:01 CST
Orthofix International N.V. (NASDAQ: OFIX) today announced it has signed an agreement with UnitedHealthcare, a UnitedHealth Group (NYSE: UNH) company, to provide bone growth stimulation products for the largest health insurer by market value in the U.S.
The three-year agreement, effective March 1, 2007, covers UnitedHealthcare's commercial and government program business.
Under the terms of the agreement, Orthofix will provide UnitedHealthcare members with bone growth stimulators for both spinal fusion and non-union bone fracture management applications. Orthofix has exclusive rights to provide its market-leading lumbar and cervical spine stimulators to UnitedHealthcare members. The agreement also includes a pilot program to track and report on treatment outcomes, as well as a patient satisfaction program.
Orthofix's CEO, Alan Milinazzo, stated, "We are excited to enter into this agreement with UnitedHealthcare and look forward to working with its physician network to deliver bone growth technologies that provide superior clinical outcomes to their millions of members around the country."
About Orthofix International, N.V.
Orthofix International N.V., a global diversified orthopedic products company, offers a broad line of minimally invasive surgical, as well as non-surgical, products for the spine, orthopedic, and sports medicine market sectors. The company's products address the lifelong bone-and-joint health needs of patients of all ages, helping them achieve a more active and mobile lifestyle. Orthofix's products are widely distributed around the world to orthopedic surgeons and patients via the company's sales representatives and its subsidiaries, including Breg, Inc. and Blackstone Medical, Inc., and via partnerships with other leading orthopedic product companies, including Kendall Healthcare. In addition, Orthofix is collaborating in R&D partnerships with leading medical institutions such as the Orthopedic Research and Education Foundation, Rutgers University, the Cleveland Clinic Foundation, and National Osteoporosis Institute. For more information about Orthofix, please visit www.orthofix.com.
About UnitedHealthcare
UnitedHealthcare provides a full spectrum of consumer-oriented health benefit plans and services, helping more than 25 million individual consumers nationwide achieve improved health and well-being through various health service systems. UnitedHealthcare arranges access to quality, affordable care with more than 500,000 physicians and care professionals and 4,600 hospitals across America. UnitedHealthcare is one of the businesses of UnitedHealth Group (NYSE: UNH), a diversified Fortune 50 health and well-being company.
Source: Business Wire
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