EATONTOWN, N.J., May 5 /PRNewswire-FirstCall/ -- Osteotech, Inc.
(Nasdaq: OSTE) announced today that it has entered into an agreement with
Premier, Inc., one of the largest group purchasing organizations in the
United States, supporting nearly 1,500 hospitals and more than 38,500 other
healthcare sites. Under the terms of this agreement, Osteotech will have
the opportunity to provide Premier's participating members with Osteotech's
line of proprietary products, including Grafton(R) DBM, Graftech(R)
Bio-implants and Xpanse(TM) Bone Inserts, as well as traditional allograft
bone tissue grafts and Osteotech's PEEK-based GraftCage(R) Spacers. The
term of the agreement is for thirty-six months effective July 1, 2006.
Sam Owusu-Akyaw, Osteotech's President and Chief Executive Officer,
stated, "We are very pleased to have entered into this agreement with
Premier, which represents another milestone in the execution of our
strategic initiatives. Under the agreement, we were successful in receiving
an award as a full-line biologics provider and look forward to working with
Premier's participating members to meet and exceed their orthobiologic
needs."
Certain statements made throughout this press release that are not
historical facts contain forward-looking statements (as such are defined in
the Private Securities Litigation Reform Act of 1995) regarding the
Company's future plans, objectives and expected performance. Any such
forward-looking statements are based on assumptions that the Company
believes are reasonable, but are subject to a wide range of risks and
uncertainties and, therefore, there can be no assurance that actual results
may not differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to, differences in
anticipated and actual product and service introduction dates, the ultimate
success of those products in the marketplace, the continued acceptance and
growth of current products and services, the impact of competitive products
and services, the availability of sufficient quantities of suitable donated
tissue and the success of cost control and margin improvement efforts.
Certain of these factors are detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission. All
information in this press release is as of May 5, 2006 and the Company
undertakes no duty to update this information.
Osteotech, Inc., headquartered in Eatontown, New Jersey, is a leading
provider of human bone and bone connective tissue for transplantation and
an innovator in the development and marketing of biomaterial and implant
products for musculoskeletal surgery. For further information regarding
Osteotech or this press release, please go to Osteotech's website homepage
at http://www.osteotech.com and to Osteotech's Financial Information
Request Form website page at http://www.osteotech.com/finrequest.htm.
SOURCE Osteotech, Inc.
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Related links:
http://www.osteotech.com
http://www.osteotech.com/finrequest.htm
http://www.prnewswire.com/comp/668050.html/
CONTACT:
Mark Burroughs, Osteotech, +1-732-542-2800
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