Paradigm Spine LLC & OM HealthCare Logistics Sign Multi-Year Logistics Agreement
Paradigm Spine LLC, a provider of innovative spinal implant technologies, and OM HealthCare Logistics, the third-party logistics (3PL) service of Owens & Minor, Inc. (NYSE: OMI), have signed a multi-year supply chain services agreement for the domestic healthcare marketplace. Paradigm Spine will use OM HealthCare Logistics to distribute its signature product, the coflex® device, in the United States. The U.S. Food and Drug Administration recently granted Premarket Approval ("PMA") for coflex®, a minimally invasive, Motion Preserving Interlaminar Stabilization™ device that is the first and only alternative to fusion for the treatment of Moderate To Severe Stenosis With Or Without Back Pain™.
"Owens & Minor's track record of providing world-class supply chain management solutions throughout the healthcare industry was a major factor in our decision making process," said Steven Amelio, Chief Financial Officer of Paradigm Spine. "Owens & Minor's national-scale 3PL service is a natural fit for Paradigm Spine - coflex® Interlaminar Technology is streamlined and compact, having fewer implants and instruments compared to competitors' systems. OM HealthCare Logistics offers a breadth of services that will eliminate the complexities of introducing coflex® to new customers. The coflex® device will be distributed immediately throughout the U.S. by OM HealthCare Logistics."
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