Spinal Elements, Inc. (“Spinal Elements” or the “Company”), a spinal implant company, today announced that it received a Vizient Innovative Technology contract for its Karma posterior fixation system.
The contract was awarded based on the recommendation of the Karma Fixation System by hospital experts who serve on one of Vizient’s client-led councils, and it signifies to Vizient provider clients unique qualities that potentially bring improvement to the healthcare industry.
Innovative Technology contracts are recommended after review and interaction with products submitted through Vizient’s Innovative Technology Program. Vizient client-led councils identify technologies that have the potential to enhance clinical care, patient safety, healthcare worker safety or improve business operations of healthcare organizations.
Developed by the Spinal Elements team with feedback and direction from spine surgeons, Karma is a procedural solution used to treat degenerative disc disease, a common condition of the lumbar spine. Karma uses a PEEK (polyetheretherketone, a medical-grade plastic) band in the densest (cortical) bone of the spine to provide fixation and stabilization to patients experiencing low back pain, leg pain, and/or instability. Karma is ideal for patients given its band is metal-free, low-profile, and minimizes tissue disruption. It is also ideal for ambulatory surgery centers given its low operating room footprint and universally sized implant.
Ron Lloyd, President and CEO of Spinal Elements, commented: “We are honored to receive an esteemed Vizient Innovative Technology contract for Karma. Based on clinical performance data for 12 and 24 months, Karma offers a meaningful alternative to conventional treatment options. By leveraging the strongest bone in the spine, it may mitigate unintended consequences while achieving similar surgical outcomes. Additionally, we are witnessing a trend of surgeries shifting to the ambulatory surgery centers, something both the patients and surgeons prefer. Karma is not only a game-changer for spine surgeons performing posterior fixation surgery on patients, but it is also answering the evolving demands of patients, surgeons, and healthcare systems.”
“After a review of the Karma Fixation System, Vizient’s client-led council agreed this technology offers a unique benefit over other products available in the market today and recommended it for an Innovative Technology contract. We are pleased to award this new contract to Spinal Elements,” said Kelly Flaharty, senior director of contract services for Vizient.
Vizient represents a diverse client base that includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute healthcare providers and has a portfolio that represents more than $140 billion in annual purchasing volume. Through its Innovative Technology Program, Vizient works with client-led councils and task forces to evaluate products for their potential to bring real innovation to healthcare. Vizient may award a contract to products deemed worthy of the Innovative Technology designation outside of the competitive bid cycle.
