Medical Device Start-up Advanced Cooling Therapy Receives Innovative Technology Contract from Vizient, Inc. for Novel Patient Temperature Management Product
CHICAGO--(BUSINESS WIRE)--Advanced Cooling Therapy (ACT) has received an Innovative Technology contract from Vizient, Inc., the largest member-driven health care performance improvement company in the country. The contract was based on a recommendation of the company’s Esophageal Cooling Device (ECD) by hospital representatives with expertise in this category who serve on one of Vizient’s member-led councils. Innovative Technology contracts are reserved for technologies that demonstrate an ability to enhance clinical care or patient safety, and those that improve an organization’s care delivery and business model.
“After a full review of the Esophageal Cooling Device, Vizient’s member council agreed this solution offers unique and incremental benefit over other products available on the market today, and recommended it for an Innovative Technology contract. We are pleased to award this new contract to Advanced Cooling Therapy.”
ACT’s technology platform provides a novel method to control patient temperature using the esophageal environment. The ECD is designed to modulate and control patient temperature when clinically indicated through a single use, fully-enclosed triple lumen system that is inserted into the esophagus. Two lumens attach to existing temperature modulation equipment while a third lumen simultaneously allows gastric decompression and drainage. The ECD can be rapidly inserted by most trained healthcare professionals, in similar fashion to a standard gastric tube, and can be used to control patient temperature in the operating room, recovery room, emergency room, or ICU. No other products on the market are approved to use the esophageal environment for whole-body temperature modulation.
“We are encouraged by Vizient’s recognition of the importance of temperature management in a variety of clinical settings, and the innovative nature of the ECD to warm and cool patients effectively and safely. Because the ECD is easy to use and doesn’t require additional capital purchase, we are witnessing rapid adoption throughout North America and look forward to working with Vizient members to expand its adoption and use within this highly respected network,” commented Robin Drassler, VP of North American Sales for ACT.
“Due to the number of products and services being released and marketed as ‘innovative’, member hospitals value the thorough innovative technology review process in place at Vizient to help them identify products worth further evaluation at their own facilities,” said Debbie Archer, director of procurement and leader of Vizient’s Innovative Technology program for suppliers. “After a full review of the Esophageal Cooling Device, Vizient’s member council agreed this solution offers unique and incremental benefit over other products available on the market today, and recommended it for an Innovative Technology contract. We are pleased to award this new contract to Advanced Cooling Therapy.”
ACT’s ECD received US FDA de novo clearance in June of 2015 for use with the Medi-Therm III by Stryker® and received FDA 510(k) clearance in January 2016 for use with the Blanketrol® II and III Hyper-Hypothermia systems made by Cincinnati Sub-Zero, a Gentherm Company. It received its CE Mark in Europe in 2014, with an expanded indication for use up to 120 hours in 2016 and a CE Mark for use with the Altrix Precision Temperature Management System by Stryker® in 2017. It is also licensed for sale in Canada and Australia.
Vizient, Inc. represents the combined strengths of the organizations formerly known as VHA Inc., University Health System Consortium, Novation and MedAssets’ Spend and Clinical Resource Management. Since 2003, nearly 2200 new and innovative products and technologies have been submitted through the Vizient Innovative Technology program. Vizient works with member-led councils and task forces to identify and review potentially innovative products. If it is determined that a product is innovative, a contract may be awarded outside of Vizient’s competitive bid cycle.