Pharmacy Startup PillPack To Be Terminated By Express Scripts

Express Scripts | April 14, 2016

This week, investors in pharmacy startup PillPack got an alarming email. “As some of you may know we are engaged in a battle with Express Scripts ESRX -1.90%, the largest Pharmacy Benefit Manager in the United States,” wrote PillPack cofounder and CEO TJ Parker. The scary part? Express Scripts manages benefits for 30% of PillPack’s customers–and it plans to throw the pharmacy out of its commercial network at the end of the month.

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MEDICAL DEVICES

CeloNova Announces New Strategic Direction Focused on Creating Partnership

CeloNova BioSciences, Inc. | April 08, 2022

CeloNova BioSciences, Inc. developer and manufacturer of a portfolio of novel surfaced coated technologies, including the proprietary Polyzene™-F nanocoating, announced the strategic decision to focus its core business on creating partnership and co-development opportunities with medical device manufacturers seeking to optimize implant interaction within the body. The company's nanocoated innovation is the result of years of rigorous scientific research and engineering and has been extensively published in numerous academic articles to date. "We are pleased to offer leading medical device manufacturers access to the unique clinical advantages of our Polyzene-F nanocoated technology that has clinically demonstrated low thrombosis, restenosis and inflammation with rapid healing effects," stated Carl St. Bernard, President and Chief Executive Officer of CeloNova. "This technology offers a significant benefit to companies seeking to improve the clinical performance of their implant technologies." "I fully support CeloNova's new strategic direction which allows medical device manufacturers to benefit from long-term biocompatibility and thromboresistance of Polyzene-F. When my students and I set out to study the hemocompatibility of this inorganic polymer in our lab in Heidelberg Germany, we soon realized its potential to significantly limit a wide range of implant complications and being broadly applied in the human body and in biomedical devices." Professor Dr. Michael Grunze, Former Chair and Professor (emeritus) at the Institute of Applied Physical Chemistry of the Ruprecht-Karls-University in Heidelberg and co-inventor of Polyzene-F CeloNova is based on a rich history of medical innovation with two PzF coated medical implants successfully commercialized in the U.S. and the EU. The company's PzF coated embolic microspheres product line was sold to Boston Scientific in 2015 and the COBRA PzF NanoCoated Coronary Stent, was developed to safely and effectively treat patients who may benefit from 1-month of dual antiplatelet therapy. CeloNova's new business direction builds upon the successful application of PzF in interventional oncology and cardiology and expands its opportunities through the development of new surface coating technologies to address important unmet clinical needs. "In my pre-clinical research at CVPath since 2012, CeloNova's proprietary Polyzene-F coating has consistently demonstrated a unique advantage of allowing an implant to heal quickly and in a functional way, without the need for antiproliferative drug elution," stated Aloke Finn, MD, Medical Director and Chief Scientific Officer at CVPath and Associate Professor of Medicine at the University of Maryland. "I believe Polyzene-F will continue to play an important role in delivering safety and efficacy in clinical practice." Polyzene-F is a proprietary, ultra-pure and highly elastic surface coating possessing unique mechanical properties that allow an implant to be coated at a nanoscale level. The coating acts as a biocompatible barrier between the implant, intimal surface and circulating elements in the blood and has demonstrated thromboresistant and anti-inflammatory properties with significantly faster, higher quality healing compared to market-leading technologies.1* About CeloNova BioSciences, Inc. CeloNova BioSciences, Inc. is a global medical device company that develops, manufactures and markets novel surfaced coated technologies, including its proprietary Polyzene™-F nanocoating. The next generation nanocoating is the result of years of rigorous scientific research and engineering and has been extensively published in numerous academic articles to date.

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HEALTH TECHNOLOGY

L2Mtech GmbH Receives CE Mark Approval on 6(SIX) products for Cardiovascular and Endovascular Applications

L2Mtech | February 17, 2021

CE Mark Approval for LimusTrack™, Sirolimus Eluting Coronary Stent System for Cardiovascular Applications. CE Mark Approval for LomiFlow™, Paclitaxel Drug Eluting Balloon for Cardiovascular Applications CE Mark Approval for PearlFlow™, Paclitaxel Drug Elutin Balloon for Endovascular Applications CE Mark Approval for PearlFlow NS™, Self Expandable Nitinol Stent System for Endovascular Applications CE Mark Approval for FlexiTrack 018™, Peripheral Balloon Catheter for Endovascular Applications CE Mark Approval for FlexiTrack 035™, Peripheral Balloon Catheter for Endovascular Applications Bonn, Germany – L2Mtech GmbH has announced the award of its first CE Mark approval on Six (6) products: LimusTrack™ : Sirolimus Coated Cobalt Chromium Stent with biodegradable polymer for the treatment of coronary artery disease, de novo lesions, restenosis lesions. LomiFlow™ : Paclitaxel Coated balloon catheter for the treatment of coronary artery disease, small vessels, dilatation of de novo lesions, in-stent restenosis (ISR) cases. PearlFlow™ : Paclitaxel Coated balloon catheter for the treatment of peripheral arterial disease, PTA, dilatation of stenotic segments or lesions in peripheral arteries. PearlFlow NS™ : Self-Expanding Nitinol Stent System for the treatment of peripheral arterial disease, de novo lesions, lesions in femoropopliteal arteries. FlexiTrack 018™ : Peripheral Balloon Dilatation catheter for the treatment of peripheral arterial disease, dilatation of lesions in femoral, popliteal, tibial arteries. FlexiTrack 035™ : Peripheral Balloon Dilatation catheter for the treatment of peripheral arterial disease, dilatation of lesions in the SFA, femoral arteries. L2Mtech GmbH Founder and CEO Lalit Mamtani said ‘‘We are very excited to have been awarded our first CE Mark on six products, CE Mark approval represents a key milestone for L2Mtech GmbH and is a testament to the efficacy and safety of our innovative technology products for Cardiovascular and Endovascular applications.“ We now prepare to commercially launch the products in all markets where the CE Mark is recognized. With introduction of our innovative technology products in markets, we will be able to expand treatment options for the benefit of many millions of patients with coronary and peripheral artery disease around the world. About L2Mtech Founded in 2017, L2Mtech GmbH is a privately-owned multinational medical device company headquartered at Bonn, Germany. L2Mtech specializes in design, development, manufacture and commercialization of medical devices that are used by healthcare establishments globally. L2MTech will provide interventional physicians with innovative vascular devices including Drug Eluting Balloon manufactured in Europe.Our Core mission is to build a product portfolio focused on minimally invasive treatment for patients with cardiovascular,endovascular and vascular artery disease. For further information, please visit : L2MTech.de Media Contact: L2Mtech GmbH admin@L2Mtech.de +49 228 94730761

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FUTURE OF HEALTHCARE

GTCR Announces Partnership with Kelly McCrann to Form Avryo Healthcare

GTCR | April 22, 2022

GTCR, a leading private equity firm, announced that it has entered into a Leaders Strategy™ partnership with Kelly McCrann to form Avryo Health Services, LLC. Based in San Diego, CA, Avryo Healthcare will seek to acquire companies and assets in the multi-site healthcare services industry as part of a strategy to build a market-leading company, with a focus on utilizing new technologies and operating strategies to enhance patient access and experiences. GTCR, the firm that pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth - will invest in Avryo Healthcare from its Strategic Growth Fund, a private equity fund with $2.0 billion of limited partner capital commitments. Mr. McCrann is serving as Executive Chairman of Avryo Healthcare and will make a substantial investment alongside GTCR. Mr. McCrann has over 30 years of experience in the healthcare services industry. Prior to partnering with GTCR, Mr. McCrann most recently served as Chief Executive Officer of EyeCare Partners, the largest vertically-integrated medical vision services provider in the US. He became CEO of EyeCare Partners in 2016 and significantly grew the company via acquisition and organic growth into the largest business in the industry before completing a successful sale of the company in 2019. Prior to leading EyeCare Partners, Mr. McCrann spent more than 25 years in senior leadership roles across healthcare provider services and payor businesses, including within dental, behavioral health, ambulatory infusion and kidney dialysis. "We are excited to partner with Kelly to build a leading company in the healthcare services industry," said Sean Cunningham, Managing Director and Co-Head of Healthcare at GTCR. "Kelly has an exceptional track record in the multi-site healthcare services space with experience across specialties, including dental and behavioral health, and a history of driving organic, de novo and M&A growth. Kelly's background, industry expertise and strategic vision make him an ideal partner as GTCR commits to build a platform in this attractive industry." "I am thrilled to partner with GTCR to build Avryo Healthcare into a market-leading company in the multi-site healthcare services space. GTCR has deep domain expertise in healthcare, a substantial track record of creatively building platforms in this space, and a long history of backing experienced CEOs and Executive Chairs. With our partnership, Avryo Healthcare is well-positioned to create a compelling platform in healthcare provider services." Mr. McCrann "GTCR's formation of Avryo Healthcare with Kelly is another excellent example of The Leaders Strategy™ and builds on our history of successful investments in multi-site healthcare services and the broader healthcare industry," added John Kos, Managing Director at GTCR. "We are excited to create this multi-site healthcare services platform behind Kelly and are actively looking for companies and assets in the sector, including founder-led and sponsor-backed companies." About GTCR Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications industries. The Chicago-based firm pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com. Follow us on LinkedIn. About Avryo Healthcare Avryo Healthcare was formed in April 2022 as a partnership between Kelly McCrann and GTCR. Avryo Healthcare's mission is to build a leading company in the multi-site healthcare provider services industry with a focus on building a company that utilizes new technologies and operating strategies to enhance patient access and experiences. For more information about Avryo Healthcare, please contact (212) 835-7042.

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FUTURE OF HEALTHCARE

Trillium Community Health Plan Successfully Resolves Corrective Action Plan with OHA

Trillium Community Health Plan | June 03, 2022

Trillium Community Health Plan is pleased to announce it has successfully closed the Tri-County Expansion Corrective Action Plan (CAP) with Oregon Health Authority effective June 1, 2022. As a result of this process, Trillium has implemented many practices that have further strengthened the plan's ability to coordinate high-quality healthcare and services, with a special focus on increasing access to care and addressing social determinants of health for Oregon Health Plan members in Clackamas, Multnomah, and Washington counties. In September 2020, OHA issued a CAP for Trillium's Medicaid plan as a condition of expansion into the Tri-County service area. OHA asked Trillium to focus on specific improvements to its network, health equity and language access, community engagement, and intensive care coordination. Leveraging the extensive expertise of its many work groups, committees, and community partnerships, including the Network Adequacy Collaborative and Health Equity Strategy Committee, and with contributions from tribal liaisons, traditional health worker liaisons, and the development of the Community Advisory Council, Trillium has addressed and resolved all CAP requirements. Today, Trillium serves more than 28,000 members in the Tri-County area. Through the CAP, the health plan made several improvements to enhance access to care and services for all members, including The creation of a fully compliant and engaged Community Advisory Council, made up largely of Trillium members representing diverse demographics and lived experience; New partnerships with the regional health equity coalition, tribal organizations, and community-based groups, which further support Trillium members with access to culturally sensitive healthcare, food insecurity, and other investments A robust behavioral health provider network to meet the needs of members; The Network Adequacy Collaborative to ensure all network related issues, including health equity, are identified and addressed promptly; and, A renewed internal committee structure to align plan efforts and center equity on strategic planning. "Trillium is committed to providing equitable, culturally sensitive, integrated care for all of our members in Oregon. We want to thank OHA for their continued partnership throughout this process, which has allowed us to enhance our systems, processes, and partnerships, improving our ability to identify local needs, remove barriers to care, develop service innovations, and collaborate across organizations to enact lasting change within our communities." Justin Lyman, Interim President and CEO of Trillium Trillium extends its appreciation to OHA for its partnership throughout this process. About Trillium Community Health Plan Trillium Community Health Plan serves Oregon Health Plan members through the CCO model, which began in 2012. Trillium is a recognized leader for outstanding coordination of care. It was first awarded a contract with the state of Oregon to help manage care for the Oregon Health Plan in 1999. Trillium partners with an extensive group of providers to improve care and access to services for OHP members.

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