Sanara MedTech and InfuSystem Team Up to Support Oncology Patients
In a significant development, Sanara MedTech Inc. has joined forces with InfuSystem Holdings, Inc. to address a major challenge faced by cancer patients undergoing chemotherapy: oral mucositis. This painful condition leads to mouth ulcers and significantly diminishes the quality of life for many patients each year.
Exclusive Deal with ChemoMouthpiece
As part of this partnership, Sanara MedTech has entered into an exclusive distribution agreement with ChemoMouthpiece, LLC, demonstrating its commitment to enhancing clinical outcomes. ChemoMouthpiece has created an advanced oral cryotherapy device specifically designed to lessen the occurrence and intensity of oral mucositis, which has already gained FDA 510(k) clearance for clinical use.
Meeting a Critical Need
Ron Nixon, CEO of Sanara, highlighted the significance of this partnership, stating, "ChemoMouthpiece's clinically validated product offers a much-needed relief option for oncology patients suffering from oral mucositis. With the American Medical Association preparing to issue a CPT code effective July 2024, there's an opportunity for broader reimbursement for this essential therapy." This collaboration aligns seamlessly with Sanara’s broader skincare strategy, which includes proprietary collagen products that address other side effects of cancer treatments.
Overview of the Agreement
The agreement stipulates that SI Healthcare Technologies, a joint venture between Sanara and InfuSystem, will serve as the exclusive distributor of ChemoMouthpiece kits across the United States. This company plans to utilize InfuSystem’s established network, which serves around 3,000 cancer centers. By leveraging InfuSystem's experienced sales team, they hope to expand the reach and availability of the Chemo Mouthpiece.
Investing in Innovation
Alongside the distribution agreement, Sanara has also made a substantial investment of $5 million to acquire a 6.6% stake in ChemoMouthpiece. This investment reflects Sanara’s dedication to advancing technologies aimed at lowering healthcare costs while enhancing patient care.
Impact on the Market
Oral mucositis is a costly complication that arises from cancer therapy, affecting an estimated 500,000 to 1 million patients each year in the U.S. The financial burden on healthcare providers is significant, with the market for oral mucositis products surpassing $600 million. SI Technologies believes their product could lead to considerable cost reductions in oncology settings, improving patients' quality of life and ensuring that cancer treatments proceed without interruptions.
Reactions from Experts
Richard Dilorio, CEO of InfuSystem, expressed enthusiasm about the partnership, noting that their combined expertise will help in providing effective solutions for patients. "Our collaboration with Sanara is aimed at offering effective oral cryotherapy options to alleviate the suffering of those facing cancer," he remarked. Similarly, David Yoskowitz, President and CEO of ChemoMouthpiece, pointed out the strong reputation of SI Technologies in the oncology sector as a vital aspect of their collaboration, stating, "We expect this partnership to boost the adoption of the Chemo Mouthpiece among oncologists, maximizing its potential to enhance patient care."
About ChemoMouthpiece, LLC
ChemoMouthpiece is focused on developing clinical solutions for oral mucositis, drawing from personal experiences that have driven innovative changes in treatment methods. Their standout product, the Chemo Mouthpiece, emerged from a personal battle with oral mucositis and aims to offer reliable relief by effectively cooling the oral cavity.
About Sanara MedTech and InfuSystem
Sanara MedTech is dedicated to revolutionary technologies across various healthcare sectors, with an emphasis on enhancing clinical outcomes while lowering costs for healthcare providers. On the other hand, InfuSystem plays a crucial role in the healthcare industry, facilitating outpatient services through a dual business model that prioritizes patient care. Their collaborative efforts highlight a robust commitment to improving health outcomes for those who need it most.
Investor Contact:
Callon Nichols, Director of Investor Relations
713-826-0524
CNichols@sanaramedtech.com
Frequently Asked Questions
1. What is the Chemo Mouthpiece?
The Chemo Mouthpiece is an oral cryotherapy device designed to help alleviate oral mucositis in cancer patients undergoing chemotherapy.
2. How does the partnership benefit oncology patients?
This partnership improves product distribution, enhancing patient access to effective relief from the challenges posed by oral mucositis.
3. What is oral mucositis and why is it important?
Oral mucositis is a painful complication arising from cancer treatment that significantly affects patients’ quality of life, impacting hundreds of thousands of individuals each year.
4. Which companies are involved in this agreement?
The key companies involved in this partnership are Sanara MedTech Inc., InfuSystem Holdings, Inc., and ChemoMouthpiece, LLC.
5. How much has Sanara invested in ChemoMouthpiece?
Sanara has invested $5 million to obtain a 6.6% ownership stake in ChemoMouthpiece.
