5 Year Veterans Administration Contract Extension

AOTI, Inc.

12 December 2024

 

12 December 2024

AOTI, INC. (the "Company" or "Group" or "AOTI")

AOTI Awarded Five Year Extension To Veterans Administration Contract

AOTI, INC., a medical technology group focused on the durable healing of wounds and prevention of amputations, is pleased to announce that it has been awarded another five-year extension to its Federal Supply Schedule (FSS) contract for its Topical Wound Oxygen (TWO₂^®) therapy and NEXA NPWT products by the U.S. Department of Veterans Affairs (VA).

The Veterans Health Administration is America's largest integrated health care system, providing care at 1,380 health care facilities, including 170 medical centers and 1,193 outpatient sites of care, serving 9.1 million enrolled veterans each year.

The VA FSS programme supports the healthcare requirements of the VA and other federal Government agencies by negotiating contracts with pre-approved vendors for fixed most favoured customer pricing, providing them access to medical equipment, supplies, pharmaceutical, and service programmes that totalled over $18.9 billion during fiscal year 2023.

The Company's FSS contract is now active through to 14 June 2029, enabling AOTI to continue to provide its multi-modality TWO₂^® therapy and NEXA NPWT products to clinicians and veterans within the VA and other federal healthcare programmes. The Company was first awarded an FSS contract in 2009 and has since treated thousands of veterans across the US, with its unique TWO₂^® therapy, which is differentiated from all other wound treatment modalities by its clinically proven ability to more durably heal wounds, save limbs and reduce costs.

Dr. Mike Griffiths, Chief Executive Officer and President of AOTI, INC., commented: "We have proudly served the veteran community for over 15 years. We are delighted to be awarded a new five-year extension to our contract which has consistent pricing and some improved terms, allowing us to continue to strengthen our effective partnership. Promoting health equity and addressing outcome disparities in patients with non-healing wounds is central to our mission at AOTI. Our unique TWO₂^® therapy has revolutionised chronic wound healing by providing significant reductions in wound related reoccurrence, hospitalisations and amputations^1,2. With TWO₂^® therapy being primarily applied by veterans at home, we are driving meaningful improvements in access-to-care for those who need it most."

1. Multinational, Multicenter, Randomized, Double-Blinded, Placebo-Controlled Trial to Evaluate the Efficacy of Cyclical Topical Wound Oxygen (TWO2) Therapy in the Treatment of Chronic Diabetic Foot Ulcers; The TWO2 Study. Robert G. Frykberg et al, Diabetics Care 2020; 43:616-624. https://doi.org/10.2337/dc19-0476.

2. Reduced Hospitalizations and Amputations in Patients with Diabetic Foot Ulcers Treated with Cyclical Pressurized Topical Wound Oxygen Therapy: Real-World Outcomes; Jessica Izhakoff Yellin, et al; Advances in Wound Care 2022; http://doi.org/10.1089/wound.2021.0118

END

AOTI, INC. Dr. Mike Griffiths, Chief Executive Officer Jayesh Pankhania, Chief Financial Officer	[phone] [e-mail]
Peel Hunt LLP (Nominated Adviser and Broker) Dr. Christopher Golden, Patrick Birkholm	[phone]
FTI Consulting (Financial PR & IR) Ben Atwell, Simon Conway, Natalie Garland-Collins, Alex Davis	[phone] [e-mail]

ABOUT AOTI, INC.

AOTI, INC. was founded in 2006 and is based in Oceanside, California, US and Galway, Ireland, providing innovative solutions to resolve severe and chronic wounds worldwide. Its products reduce healthcare costs and improve the quality of life for patients with these debilitating conditions. The Company's patented non-invasive Topical Wound Oxygen (TWO₂^®) therapy has demonstrated in differentiating, robust, double-blinded randomised controlled trials (RCT) and real-world evidence (RWE) studies to more-durably reduce the recurrence of Diabetic Foot Ulcers (DFUs), resulting in an unprecedented 88 per cent reduction in hospitalisations and 71 per cent reduction in amputations over 12 months. TWO₂^® therapy can be administered by the patient at home, improving access to care and enhancing treatment compliance. TWO₂^® therapy has received regulatory clearance from the US (FDA), Europe (CE Mark), UK (MHRA), Health Canada, the Chinese National Medical Products Administration, Australia (TGA) and in Saudi Arabia. Also see www.aotinc.net

 

END