By Industry News
Toronto, Canada– June 15, 2020 – MolecuLight Inc., a provider of point-of-care fluorescence imaging for real-time detection of bacteria in wounds, announces the availability of its MolecuLight i:X® platform to 9,000 health care facilities in the US through its new commercial arrangement with MAGNET GROUP GPO.
MAGNET GROUP is one of the oldest Group Purchasing Organizations (GPO) in the US, operating in twenty states and the District of Columbia. MAGNET GROUP solicits and contracts with essential capital medical equipment on behalf of its 9,000 providers, including hospitals, alternate care facilities, physician practices and clinics. MolecuLight is now a registered partner and its i:X device for detection of bacteria is available to MAGNET GROUP’s health care members across the US.
“We are thrilled to be a registered partner with MAGNET GROUP which will now enable 9,000+ health care providers to access our diagnostic imaging platform for their wound care facilities”, says Anil Amlani, MolecuLight’s CEO. “In our drive to become the standard-of-care in point-of-care detection of bacteria and digital wound area measurement, this new arrangement will allow us to quickly meet the growing demand for our technology and increase our reach to new MolecuLight i:X users”. The MolecuLight i:X is the only point-of-care device that allows fluorescence wound imaging for bacterial presence, location, and load. MAGNET GROUP partners can benefit from the reimbursement pathway for this procedure, including:
- Physician work through two CPT® codes (Current Procedural Terminology – Cat. III), and
- Facility payment through an APC code (Ambulatory Procedure Classification) for HOPD setting
These CPT* and APC codes will be active on July 1, 2020.
Through their new commercial arrangement, MAGNET GROUP and MolecuLight will co-market the MolecuLight i:X platform to the GPO’s 9,000 health care provider members. MolecuLight’s training (in-clinic, virtual and e-learning) and support programs will also be made available to MAGNET GROUP’s members. In addition to working with GPOs such as MAGNET GROUP, MolecuLight also has a direct Sales and Clinical Applications team across North America.
*CPT is a registered trademark of the American Medical Association
About MolecuLight Inc.
MolecuLight Inc. (www.moleculight.com) is a privately owned Canadian medical imaging company that has developed and is commercializing its proprietary fluorescent imaging platform technology in multiple clinical and commercial markets. MolecuLight’s initial product, the MolecuLight i:X®, and its accessories delivers a real-time handheld fluorescence imaging solution for the global wound care market. The MolecuLight i:X provides clinicians with information about the fluorescent characteristics of wounds to assist clinicians in making improved diagnostic and treatment decisions. The company is also commercializing its unique fluorescence imaging platform technology for other markets with globally relevant, unmet needs including food safety, consumer cosmetics and other key industrial markets.
About MAGNET GROUP
MAGNET GROUP, one of the oldest Group Purchasing Organizations (GPO) in the US, serves approximately 9,000 members. Founded in 1979, MAGNET GROUP is a specialty GPO with a portfolio focused on capital and small medical equipment, facilities related products, select medical products, HR services, technology, and other services. MAGNET GROUP is “Your Other GPO” for simple secondary sourcing of quality contracts.
The views and opinions expressed in this blog are solely those of the author, and do not represent the views of WoundSource, Kestrel Health Information, Inc., its affiliates, or subsidiary companies.