T2 Biosystems Receives Multiyear Innovative Technology Contract from Vizient, Inc.

Contract recognizes products that bring improvements to the health care industry

LEXINGTON, Mass., March 19, 2020 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced that it was awarded an Innovative Technology contract from Vizient, Inc., the largest member-driven health care performance improvement company in the country, covering its T2Dx Instrument, as well as the T2Bacteria and T2Candida Panels, that detect sepsis-causing bacterial and fungal pathogens directly from whole blood.

The contract was based on a recommendation of the T2Dx Instrument by clinical experts in this category who serve on one of Vizient’s member-led councils. Vizient awards Innovative Technology contracts for technologies that demonstrate an ability to enhance clinical care and reduce the risk of harm to patients or providers, while simultaneously raising the standard of patient care and safety.

“This multi-year agreement with the nation’s largest group purchasing organization demonstrates the value that T2 Biosystems’ unique technology confers to patients who are suspected of having sepsis,” said President and Chief Executive Officer John Sperzel. “T2 Biosystems is the only Company with solutions that can detect sepsis-causing pathogens, directly from whole blood, in hours instead of days. With the mortality of patients in septic shock rising by eight percent every hour they are not on targeted treatment, the need for hospitals to have more effective rapid diagnostics that enable earlier targeted therapy integrated into their infection management protocol is essential.”

The new contract provides Vizient members access to broader exposure and contracted pricing for the T2Dx Instrument and its corresponding panels that detect sepsis-causing bacterial and fungal pathogens.

Vizient serves a wide range of health care organizations that represent a combined purchasing volume of approximately $100 billion annually and includes more than 50 percent of the nation’s acute care hospitals, 95 percent of all academic medical centers and 20 percent of the country’s ambulatory market.

“Hospitals and providers are continuously looking for innovative solutions that demonstrate an ability to enhance clinical care or patient safety, and those that improve an organization’s care delivery and business model,” said Debbie Archer, director of procurement and leader of the Vizient Innovative Technology program for suppliers. “After a full review of T2Dx Instrument, Vizient’s member council agreed this solution offers an incremental benefit over other products and recommended it for an innovative technology contract.”