SOURCE: Megadyne Medical Products, Inc.

Megadyne Medical Products, Inc.

August 26, 2009 10:05 ET

KOL Bio-Medical Instruments, Inc. and Megadyne Jointly Approved as a Government Service Administration Schedules Supplier

CHANTILLY, VA and DRAPER, UT--(Marketwire - August 26, 2009) - The partnership of KOL Bio-Medical Instruments, Inc. (KOL), a Service Disabled Veteran Owned specialty medical device distributor, and Megadyne, an end-to-end, full-solution electrosurgical equipment and accessory developer/manufacturer, has resulted in KOL being awarded a Federal Supply Schedule contract to provide the Megadyne product line. KOL is a Service Disabled Veteran Owned Small Business (SDVOSB).

Under the terms of the agreement, Megadyne's entire product line of electrosurgical electrodes and other surgical devices are eligible for streamlined acquisition by the US Department of Veterans Affairs (VA) and all other government agencies, including the Department of Defense, and will be distributed by KOL Bio-Medical Instruments.

A Federal Supply Schedule (FSS) is an unfunded, five-year contract (with three additional five-year options) between the federal government and a commercial vendor that acts as a pricing agreement for what a contractor will charge federal buyers for its products and services.

To become an approved supplier, contractors are required to complete an extensive application process. Negotiating best pricing, terms and conditions for the products or services available for acquisition is the primary driver of the Federal Supply Schedule system.

"Being awarded a GSA schedule contract is a tremendous opportunity," said Tim McInerney, President & CEO of KOL Bio-Medical Instruments, Inc. "We have had a strong partnership with Megadyne for the past seven years and its electrosurgical product line is a valuable and integral part of our medical device offerings."

"Working with KOL Bio-Medical enhances our ability to contract with the VA and all other federal agencies with our electrosurgical, cost-effective and environmentally-friendly products to support their efforts of providing superior services and care to veterans and military personnel while also resulting in cost savings," said Wayne Chappell, Vice President of Worldwide Sales at Megadyne.

The GSA Schedules Program, also referred to as Multiple Award Schedules and Federal Supply Schedules, are indefinite delivery, indefinite quantity (IDIQ) contracts that are available for use by federal agencies worldwide.

Public Law 106-50 passed August 17, 1999 states:

"The Government-wide goal for participation by small business concerns owned and controlled by service-disabled veterans shall be established at not less that 3 percent of the total value of all prime contract/subcontract awards for each fiscal year."

This was reinforced by Executive Order 13360 in 2004 which gives agency contracting officers the authority to reserve certain procurements for service-disabled veteran owned businesses.

About KOL Bio-Medical Instruments, Inc.

Founded in 1971 in Fairfax, Virginia, KOL Bio-Medical (www.KOLBIO.com) is a certified Service Disabled Veteran Owned Small Business, and a specialty medical device distributor committed to bringing emerging medical technologies to market.

About MEGADYNE

MEGADYNE, (www.megadyne.com), is the recognized authority on non-stick electrosurgical electrodes and cost-effective surgical devices.

Contact Information

  • Press Contact:
    Paulette Brown
    Brown Communications Inc.
    770-577-3881
    Email Contact

    Timothy D.C. McInerney
    KOL Bio-Medical Instruments, Inc.
    703.378.8600
    Email Contact