Ritedose Awarded 503B Compounded Medications Agreement with Premier, Inc.

Rhea-AI Summary

Ritedose, a South Carolina-based 503B outsourcing facility, has secured a group purchasing agreement with Premier Inc. (PINC), effective January 1, 2023. This agreement allows Premier members access to pre-negotiated pricing and terms for Ritedose's full range of compounded medications. Ritedose provides ready-to-use, single-dose syringe products to various healthcare organizations. Their CEO Jody Chastain highlighted their capability to meet outsourcing needs without disruptions in patient care. Premier, which collaborates with over 4,400 U.S. hospitals, aims to enhance healthcare outcomes and lower costs through integrated services.

Positive

• Secured group purchasing agreement with Premier Inc., expanding market access.
• Provides ready-to-use syringe products for healthcare organizations, enhancing service delivery.
• CEO emphasizes capacity to ensure uninterrupted supply of medications.

Negative

• None.

News Market Reaction – PINC

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Data tracked by StockTitan Argus on the day of publication.

COLUMBIA, S.C., Jan. 30, 2023 /PRNewswire/ -- Ritedose, a 503B outsourcing facility located in South Carolina, has been awarded a group purchasing agreement with Premier Inc., a leading healthcare improvement company operating one of the nation's largest group purchasing organizations (GPOs). Effective January 1, 2023, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Ritedose's full range of compounded medications.

Ritedose's 503B outsourcing solution provides ready-to-use, single dose syringe products to hospitals, healthcare systems, surgery centers and other healthcare organizations.

"We're pleased to work with Premier and its extensive healthcare network to provide quality medication at affordable prices," said Ritedose President and CEO Jody Chastain. "Decades of successful cGMP production, extensive development resources and significant manufacturing capacity mean we have a ready supply of medication always available, to help Premier's members avoid disruptions in patient care. We're excited to continue meeting the outsourcing needs of healthcare organizations across the country."

Premier, Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and health systems and approximately 250,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost.

About Ritedose

Founded in 1995 in Columbia, South Carolina, The Ritedose Corporation is an industry leader in the aseptic manufacturing and liquid packaging of drug products and utilizes proven Blow-Fill-Seal (BFS) equipment and processes to ensure efficient, consistent and safe dosage delivery. The company's 27-year track record includes delivery of more than 8 billion doses since 2012 without interruption, and its current capacity is 2 billion units annually. To learn more about all Ritedose products, view the product catalog or email us at sales503B@ritedose.com with order information.

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SOURCE Ritedose

FAQ

What is the significance of the agreement between Ritedose and Premier Inc. (PINC)?

The agreement enables Premier members to access Ritedose's compounded medications at pre-negotiated prices, enhancing Ritedose's market reach.

When did the agreement between Ritedose and Premier Inc. take effect?

The agreement took effect on January 1, 2023.

What types of products does Ritedose provide?

Ritedose provides ready-to-use, single-dose syringe products aimed at hospitals and healthcare systems.

How does Ritedose's agreement with Premier Inc. benefit healthcare organizations?

It allows healthcare organizations to enjoy special pricing and terms for Ritedose's medications, potentially reducing costs and improving care.