THOROFARE, NJ--(Marketwired - Dec 19, 2016) - Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), (the "Company" or "Akers Bio"), a developer of rapid health information technologies, has signed a three-year agreement with the Greater New York Hospital Association (GNYHA) to introduce the Company's flagship rapid tests for heparin-induced thrombocytopenia ("HIT") across GNYHA's network of over 300 member hospitals.
Founded in 1904, GNYHA is a trade and group purchasing association representing a large number of hospitals and healthcare systems in New York, New Jersey, Connecticut, and Rhode Island; including some of the most prestigious healthcare organizations in the United States.
Akers Bio's flagship PIFA Heparin/PF4 Rapid Assay and PIFA PLUSS PF4 tests were designed to quickly determine at -- or near -- the point-of-care if a patient being treated with the widely used blood thinner heparin may be developing HIT. This clinical syndrome reverses heparin's intended therapeutic effect and transforms it into a clotting agent. Patients suffering HIT are at risk of developing limb- and life-threatening complications, so the timely test result provided by the Company's Heparin/PF4 devices is paramount to effective and cost-efficient clinical decision making.
Akers Bio believes its rapid tests have the capacity to provide dramatic cost savings for hospitals when compared to traditional testing methodologies for detecting HIT. The Company estimates that a typical hospital can save $0.5 - $1 million per annum in testing, pharmacy, and clinical monitoring costs.
Under the terms of the agreement, Akers Bio's flagship PIFA Heparin/PF4 Rapid Assay and PIFA PLUSS PF4 tests will be evaluated at two significant GNYHA member hospitals, Kaleida Health -- which is the largest provider in Western New York -- and Kingsbrook Jewish Medical Center - a major teaching hospital in Brooklyn. The outcome of the evaluations will be shared with GNYHA's extensive member network to which Akers Bio will, with GNYHA's support, begin marketing the Company's tests.
John J. Gormally, Chief Executive Officer of Akers Bio, commented:
"Akers Bio is delighted to have signed a three-year agreement with GNYHA, one of the premier group purchasing organizations in the United States healthcare sector. Their membership includes a diverse listing of prominent and large integrated delivery networks (IDNs) and hospitals. Enhanced access to GNYHA's network has the potential to dramatically increase domestic sales of our flagship product.
"We look forward to working with GNYHA to introduce PIFA Heparin/PF4 clinical diagnostic products that will improve effectiveness, operational efficiency and profitable outcomes for their members."
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and more cost-effective healthcare information to healthcare providers and consumers. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies. The Company's state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. The Company has aligned with major healthcare companies and high volume medical product distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be found at www.akersbio.com. Follow us on Twitter @AkersBio.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Akers Biosciences, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.