TYRX® Announces First EverImplantation of AIGISRx® R Fully Resorbable Antibacterial Envelope

TYRX® Announces First EverImplantation of AIGISRx® R Fully Resorbable Antibacterial Envelope

Monmouth Junction, NJ. (April 15, 2013): TYRX, Inc., the leader in the commercialization of implantable medical devices intended to help reduce surgical site infections, announced today that the first implantation of its new AIGISRx R Fully Resorbable Antibacterial Envelope has taken place at the Quebec Heart and Lung Institute in Quebec City, Canada by Dr. François Philippon. TYRX announced on January 31, 2013 that it had received a license from Health Canada to market its AIGISRx R Fully Resorbable technology.

TYRX(R) Receives Health Canada Approval

MONMOUTH JUNCTION, N.J., Oct 04, 2012 (BUSINESS WIRE) — TYRX, Inc., the leader in the commercialization of implantable medical devices intended to help reduce surgical site infections, announced today that it has received a license from Health Canada to market its AIGISRx Antibacterial Envelope. The AIGISRx Envelope is specifically designed to stabilize pacemakers and implantable defibrillators while also releasing antimicrobial agents to help provide protection from microbial colonization of the device during surgical implantation.

TyRx Press Release – TYRX(R) Receives Health Canada Approval

MONMOUTH JUNCTION, N.J., Oct 04, 2012 (BUSINESS WIRE) — TYRX, Inc., the leader in the commercialization of implantable medical devices intended to help reduce surgical site infections, announced today that it has received a license from Health Canada to market its AIGISRx Antibacterial Envelope. The AIGISRx Envelope is specifically designed to stabilize pacemakers and implantable defibrillators while also releasing antimicrobial agents to help provide protection from microbial colonization of the device during surgical implantation.

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FierceMedicalDevices Names TYRX® as one of its “Fierce 15” Medical Device and Diagnostic Companies of 2012

Monmouth Junction, NJ – (October 2, 2012) – TYRX, Inc. announced today that it has been named to the FierceMedicalDevices “Fierce 15” list, designating it as one of the leading medical device and diagnostic companies of 2012.

FierceMedicalDevices Editors Mark Hollmer and Damian Garde, in conjunction with Editor-in-Chief John Carroll and Executive Editor Ryan McBride, chose this year’s winners based on their top management teams, notable financial backing, and promising technologies and market opportunities. TYRX was chosen as one of the Fierce 15 based, in part, on its creativity and innovations in the industry.

TyRx Press Release – FierceMedicalDevices Names TYRX® as one of its “Fierce 15” Medical Device and Diagnostic Companies of 2012

Monmouth Junction, NJ – (October 2, 2012) – TYRX, Inc. announced today that it has been named to the FierceMedicalDevices “Fierce 15” list, designating it as one of the leading medical device and diagnostic companies of 2012.

FierceMedicalDevices Editors Mark Hollmer and Damian Garde, in conjunction with Editor-in-Chief John Carroll and Executive Editor Ryan McBride, chose this year’s winners based on their top management teams, notable financial backing, and promising technologies and market opportunities. TYRX was chosen as one of the Fierce 15 based, in part, on its creativity and innovations in the industry.

Click here to read the full release.

TYRX(R) Receives New Product Innovation Award

 

AIGISRx Antibacterial Envelope for Pacemakers and Defibrillators Recognized by Frost & Sullivan

MONMOUTH JUNCTION, N.J., Sep 14, 2012 (BUSINESS WIRE) — TYRX, Inc., the leader in the commercialization of implantable medical devices designed to help reduce surgical-site infections associated with cardiovascular implantable electronic devices (CIEDs) including pacemakers and implantable defibrillators, announced today that Frost & Sullivan has named the AIGISRx(R) Antibacterial Envelope as the recipient of its prestigious New Product Innovation Award for 2012.

“To date TYRX’s AIGISRx is very unique in the fact that it is the first and only antibacterial product of its kind to receive U.S. Food and Drug Administration (FDA) clearance. The product not only helps in stabilizing the pacemaker or ICD, but it also helps reduce infection by delivering antibiotics directly to the surgical site in the first 7 to 10 days following implantation,” said Darshana De, IP and Best Practices Analyst from Frost & Sullivan.

The AIGISRx Antibacterial Envelope is designed to address surgical-site infections which are expensive to treat and have a significant impact on patients and hospitals.

Patients suffering from surgical-site infections following CIED procedures:

  • spend an average of two extra weeks in the hospital
  • undergo repeat surgical procedures to treat the infection
  • cost the facility an average of $72,485
  • experience significant increases in morbidity & mortality, with 1-year mortality rates of 26.5% to 35.1%, depending on device type

The recipient of the Frost & Sullivan New Product Innovation Award is selected after rigorous analysis of industry’s leading companies who demonstrate outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development.

“Since TYRX was founded, we have been working diligently to research, develop, and commercialize technologies which help reduce surgical-site infections and improve patient outcomes,” remarked Robert White, President and CEO of TYRX. “Our team appreciates Frost & Sullivan’s acknowledgement of our product leadership and innovation.”

 

Over 50% of Hospital CFOs Plan to Adopt New Technology in Response to Medicare Cuts for Cardiac Device Infections

 

Monmouth Junction, NJ (August 20, 2012): Medicare’s decision to stop reimbursing hospitals for the treatment of potentially avoidable surgical site infections following cardiac implantable electronic device (CIED) procedures, including pacemaker and defibrillator implants, will significantly impact hospital practices according to a new national survey of hospital chief financial officers (CFOs).

The Centers for Medicare and Medicaid Services (CMS) recently released its Hospital Inpatient Prospective Payment System (IPPS) Final Rule for Fiscal Year 2013 which adds Surgical Site Infection following CIED implantation as a condition subject to the Hospital Acquired Condition (HAC) payment provision. CMS considers these infections to be reasonably preventable and has classified them as complicating conditions that would otherwise result in higher payment to the hospital. Under the new policy, CMS will pay for the original implantation surgery, but will not reimburse hospitals at a higher rate for treating the infection.

The survey polled 50 hospital CFOs at academic health centers and community hospitals across the United States to determine how hospital practices are likely to change as the result of the new CMS rule. Findings included:

• 62% of CFOs consider the financial impact of the HAC on their hospital’s operations to be “very important.”

• Nearly all CFOs had adopted or plan to adopt new technologies to help reduce the risk of CIED infections; half those surveyed specifically cited increased use of the AIGISRx®Antibacterial Envelope.

• 82% of CFOs plan to use internal reporting measures to reduce the incidence of the CIED infections.

• 74% of CFOs believe their facilities may reduce the use of CIEDs when alternative therapies are available.

• Only 6% of hospital CFOs said their organization had not taken any actions to reduce the incidence of existing HACs.

Patients with surgical site infections following CIED procedures spend an average of two extra weeks in the hospital, undergo repeat surgical procedures to treat the infection, and cost the facility an average of $72,485. Additionally, such patients experience significant increases in morbidity and mortality, with 1-year mortality rates of 26.5 – 35.1%, depending on device type.

“Surgical site infections are expensive to treat and have a significant financial impact on hospitals as well as on patients’ health and wellbeing,” stated Robert White, Chief Executive Officer of TYRX, Inc., the leader in the commercialization of implantable medical devices intended to help reduce surgical site infections (SSIs). “New technologies, such as the AIGISRx® Antibacterial Envelope, can play an important role in reducing the incidence of such infections and thus lowering hospital costs.”

The survey, conducted by Epocrates, was sponsored by TYRX, Inc.

Over 50% of Hospital CFOs Plan to Adopt New Technology in Response to Medicare Cuts for Cardiac Device Infections

Monmouth Junction, NJ (August 20, 2012): Medicare’s decision to stop reimbursing hospitals for the treatment of potentially avoidable surgical site infections following cardiac implantable electronic device (CIED) procedures, including pacemaker and defibrillator implants, will significantly impact hospital practices according to a new national survey of hospital chief financial officers (CFOs).

The Centers for Medicare and Medicaid Services (CMS) recently released its Hospital Inpatient Prospective Payment System (IPPS) Final Rule for Fiscal Year 2013 which adds Surgical Site Infection following CIED implantation as a condition subject to the Hospital Acquired Condition (HAC) payment provision. CMS considers these infections to be reasonably preventable and has classified them as complicating conditions that would otherwise result in higher payment to the hospital. Under the new policy, CMS will pay for the original implantation surgery, but will not reimburse hospitals at a higher rate for treating the infection. 

The survey polled 50 hospital CFOs at academic health centers and community hospitals across the United States to determine how hospital practices are likely to change as the result of the new CMS rule. Findings included:

• 62% of CFOs consider the financial impact of the HAC on their hospital’s operations to be “very important.”

• Nearly all CFOs had adopted or plan to adopt new technologies to help reduce the risk of CIED infections; half those surveyed specifically cited increased use of the AIGISRx®Antibacterial Envelope.

• 82% of CFOs plan to use internal reporting measures to reduce the incidence of the CIED infections.

• 74% of CFOs believe their facilities may reduce the use of CIEDs when alternative therapies are available.

• Only 6% of hospital CFOs said their organization had not taken any actions to reduce the incidence of existing HACs.

Patients with surgical site infections following CIED procedures spend an average of two extra weeks in the hospital, undergo repeat surgical procedures to treat the infection, and cost the facility an average of $72,485. Additionally, such patients experience significant increases in morbidity and mortality, with 1-year mortality rates of 26.5 – 35.1%, depending on device type.

“Surgical site infections are expensive to treat and have a significant financial impact on hospitals as well as on patients’ health and wellbeing,” stated Robert White, Chief Executive Officer of TYRX, Inc., the leader in the commercialization of implantable medical devices intended to help reduce surgical site infections (SSIs). “New technologies, such as the AIGISRx® Antibacterial Envelope, can play an important role in reducing the incidence of such infections and thus lowering hospital costs.”

The survey, conducted by Epocrates, was sponsored by TYRX, Inc.

TYRX® Comments on Medicare Decision to Stop Paying for Infections Following Pacemaker or Defibrillator Implants Release

Monmouth Junction, NJ (August 2, 2012) – In a bid to help control health care costs, on October 1, 2012, the Centers for Medicare and Medicaid Services (CMS) will stop paying hospitals for treating potentially avoidable surgical site infections following Cardiac Implantable Electronic Device (CIED) procedures including pacemaker and defibrillator implants. CMS just released its Hospital Inpatient Prospective Payment System (IPPS) Final Rule for Fiscal Year 2013 which adds Surgical Site Infection following CIED implantation as a condition subject to the Hospital Acquired Condition payment provision. CMS considers these infections to be reasonably preventable and has classified them as complicating conditions that would otherwise result in higher payment to the hospital. Under the new policy, CMS will pay for the original surgery, but will not reimburse hospitals at a higher rate for treating the infection.

TYRX® Comments on Medicare Decision to Stop Paying for Infections Following Pacemaker or Defibrillator Implants

In a bid to help control health care costs, on October 1, 2012, the Centers for Medicare and Medicaid Services (CMS) will stop paying hospitals for treating potentially avoidable surgical site infections following Cardiac Implantable Electronic Device (CIED) procedures including pacemaker and defibrillator implants. CMS just released its Hospital Inpatient Prospective Payment System (IPPS) Final Rule for Fiscal Year 2013 which adds Surgical Site Infection following CIED implantation as a condition subject to the Hospital Acquired Condition payment provision. CMS considers these infections to be reasonably preventable and has classified them as complicating conditions that would otherwise result in higher payment to the hospital. Under the new policy, CMS will pay for the original surgery, but will not reimburse hospitals at a higher rate for treating the infection.