Full Press Release Details
Bio Awarded Contract with HealthTrust Purchasing Group
MALVERN, Pa., December 6, 2019 (GLOBE NEWSWIRE) -- TELA Bio,
Inc. ("TELA") (Nasdaq: TELA), a commercial stage medical technology company focused on designing, developing and marketing
a new category of tissue reinforcement materials to address unmet needs in soft tissue reconstruction, today announced that the
Company has signed a group purchasing agreement with HealthTrust Purchasing Group, L.P. (HealthTrust) for its full portfolio of
OviTex hernia repair and OviTex PRS products.
"We are excited to be able to provide our advanced soft
tissue reconstruction products to the HealthTrust member facilities, which represents more than 1,600 hospitals and health systems
across the U.S.," said Antony Koblish, President and Chief Executive Officer of TELA Bio. "Making our full portfolio
of products available to such a large organization of hospitals and healthcare systems helps in our efforts to improve patient
outcomes while at the same time reducing overall cost of care. This new contract with HealthTrust marks an important milestone
in TELA's continued commercial expansion and growth strategy."
Under the purchasing agreement, TELA will provide its full
portfolio of OviTex hernia repair products and OviTex PRS products for plastic and reconstructive
surgery to HealthTrust members effective February 1, 2020, for an initial term of three years.
About TELA Bio, Inc.
TELA Bio, Inc. is a commercial stage medical technology company
focused on designing, developing and marketing a new category of tissue reinforcement materials to address unmet needs in soft
tissue reconstruction. TELA's products are designed to improve on shortcomings of existing biologics and minimize long-term
exposure to permanent synthetic material. TELA's portfolio is supported by quality, data-driven science and extensive pre-clinical
research that has consistently demonstrated advantages over other commercially available products.
HealthTrust (Healthtrust Purchasing Group, L.P.) is committed
to strengthening provider performance and clinical excellence through an aligned membership model and the delivery of total spend
management advisory solutions that leverage operator experience, scale and innovation. Headquartered in Nashville, Tenn., HealthTrust
serves over 1,600 hospitals and health systems, and more than 43,000 other member locations including ambulatory surgery centers,
physician practices, long-term care and alternate care sites.
Caution Regarding Forward-Looking Statements
This press release may contain forward-looking statements
regarding TELA's current expectations. Words such as "may," "might," "will,"
"should," "believe," "expect," "anticipate," "estimate,"
"continue," "predict," "forecast," "project," "plan,"
"intend" or similar expressions, or statements regarding intent, belief, or current expectations are
forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict. These and other risks and uncertainties are described more fully
in the section captioned "Risk Factors" in the final prospectus related to the public offering filed with the
Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and
TELA undertakes no duty to update such information except as required under applicable law.
Vice President, Corporate Development and Investor Relations