The new contract will facilitate Regency’s expanded use of our Roma3 pulsed electromagnetic field (PEMF) device for the treatment of chronic wounds. Under the terms of the agreement, Ivivi will provide Regency facilities with several solution based packages that are priced using a fixed monthly rental rate per facility versus the previous agreements’s per unit rental rate.
The contract resulted after a three month trial by Regency of the new Roma3 device. Over the course of the trial, Regency experienced improved rates of wound healing, a significant reduction in the use of more costly negative pressure wound therapy device rentals, and an overall cost savings of more than 60% per patient. The contract is also part of Ivivi’s strategy to move to a solution based pricing approach with hospital groups such as Regency, rather than pricing solely on a per unit basis.
David Saloff, co-CEO of Ivivi Technologies, said: “We believe this agreement with Regency provides continued validation of the growing acceptance of our PEMF technology in the chronic wound care marketplace and will also facilitate our expansion into other hospital groups.”