T2 Biosystems extends Vizient supplier agreement

AI Sentiment: Bullish
Reason: T2 Biosystems has extended its supplier agreement with Vizient for two years, allowing the company to continue providing its innovative diagnostic products to healthcare institutions, which is likely to improve patient outcomes and reduce healthcare costs.

T2 Biosystems, a leader in the field of in vitro diagnostics, has extended its supplier agreement with Vizient, the largest member-driven healthcare performance improvement company in the United States. The agreement, which has been extended for two years, demonstrates T2 Biosystems' ongoing commitment to providing innovative diagnostic products to healthcare institutions.

Under the renewed agreement, T2 Biosystems will continue to offer its T2Bacteria and T2Candida Panels at contracted pricing to Vizient's vast network of hospitals and healthcare providers. These diagnostic panels, which utilize T2 Biosystems' unique T2 Magnetic Resonance technology, allow for the rapid identification of sepsis-causing pathogens. This is vitally important, as faster diagnosis can lead to quicker treatment, potentially saving lives.

John McDonough, the CEO of T2 Biosystems, expressed his excitement about the extended agreement. He emphasized the importance of T2 Biosystems' relationship with Vizient in helping to combat sepsis, a major healthcare issue that contributes to one in every three hospital deaths. McDonough also stressed the expansion of access to the company's innovative diagnostic solutions, which can lead to improved patient outcomes and reduced healthcare costs.

Vizient provides solutions and services that improve the delivery of high-value care by aligning cost, quality, and market performance for more than 50% of the nation’s acute care providers. T2 Biosystems, on the other hand, is dedicated to improving patient care and outcomes through the development of innovative diagnostic products. The extension of the supplier agreement between these two companies will undoubtedly contribute to achieving these goals and improving healthcare in the United States.