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Tissue Regenix Group PLC

Tissue Regenix secures additional coverage for DermaPure from a US Group Purchasing Organization

The AIM-listed firm said the additional coverage will open up access to a further 1,500 hospitals and 32,500 alternative care providers, primarily in the South Eastern region of the US

Operation
The group added that it will bolster the commercial opportunity in Florida, the second largest state in the US with regard to the use of biological tissues

Tissue Regenix Group PLC (LON:TRX) has secured additional coverage from a US Group Purchasing Organization (GPO) for the use of DermaPure, its decellularized allograft dermis.

The AIM-listed regenerative medical devices company said the additional coverage will open up access to a further 1,500 hospitals and 32,500 alternative care providers, primarily in the South Eastern region of the US.

READ: Tissue Regenix flush with cash after doubling revenues in 2018

The group added that it will bolster the commercial opportunity in Florida, the second largest state in the US with regard to the use of biological tissues such as the DermaPure product.

The expansion builds on Tissue Regenix's contracts with the two largest GPOs in the US - Premier Inc. and Vizient Inc. - and with the addition of this new agreement increases potential DermaPure availability into 95% of institutions that purchase via large GPO networks.

Gareth Jones, interim COO of Tissue Regenix commented: "GPO approvals play a fundamental role in the Group's commercialisation strategy for DermaPure, in order to bring this important treatment option to more patients.

“Another successful approval from a GPO reflects the positive changes we made to our commercial sales strategy where we realigned our efforts to drive adoption directly in the hospital space. This recent approval will provide a more regional focus across the US landscape, furthering our US market penetration efforts."

Quick facts: Tissue Regenix Group PLC

Price: £0.03

Market: AIM
Market Cap: £40.43 m
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