PRESS RELEASE

MolecuLight i:X® Platform Available to 9,000 Healthcare Facilities Through MAGNET GROUP GPO

Leading GPO Accepts MolecuLight i:X Point-of-Care Device for Detection of Bacteria and Digital Wound Measurement for its National Membership

Toronto, CANADA – (June 15, 2020) MolecuLight Inc., the leader in 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 healthcare facilities in the US through its new commercial arrangement with MAGNET GROUP  GPO.

MAGNET GROUP is one of the oldest and most experienced 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 healthcare members across the US. 

“We are thrilled to be a registered partner with MAGNET GROUP which will now enable 9,000+ healthcare 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 healthcare provider members.  MolecuLight’s comprehensive 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.

*NOTE: CPT is a registered trademark of the American Medical Association.

 

About MolecuLight Inc.

MolecuLight Inc. (www.moleculight.com) is a privately-owned medical imaging company that has developed and is commercializing its proprietary fluorescent imaging platform technology in multiple clinical markets. MolecuLight’s first commercially released device, the MolecuLight i:X® fluorescence imaging system and its accessories are used for the detection of bacteria and digital wound measurement, and to provide a point-of-care handheld diagnostic tool for the global wound care market. The MolecuLight i:X provides clinicians with information about the fluorescent characteristics of wounds containing bacteria to assist 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.

MolecuLight operates worldwide through its Headquarters, MolecuLight Inc. (Canada), and subsidiaries in various countries including MolecuLight Corp. (USA), MolecuLight GmbH (Germany), MolecuLight France, MolecuLight UK Ltd., MolecuLight Italy S.R.L., and MolecuLight Holland B.V. Each of these entities is supported by local MolecuLight Sales and Clinical Applications teams who provide clinical demonstrations and deliver MolecuLight’s comprehensive training program to support customers andthe ongoing adoption of the i:X device.

About MAGNET GROUP

MAGNET GROUP, one of the oldest and most experienced 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.

Participants include all varieties of healthcare providers and non-healthcare entities, such as municipalities and universities. MAGNET GROUP members choose from over 200 no-hassle GPO contracts without volume compliance or bundled services issues and never pay membership dues or fees. For more information about MAGNET GROUP contact Diane T. Mase, President, at dmase@magnetgroup.com.

 

For further information, please contact:

Rob Sandler
Chief Marketing Officer
MolecuLight Inc.
M. +1.416.274.8166
rsandler@moleculight.com

Diane T. Mase
President
MAGNET GROUP
T. (203) 584-8181
dmase@magnetgroup.com