Advanced tissue sciences bankruptcy

advanced tissue sciences bankruptcy

Advanced Tissue Sciences filed for bankruptcy in , and the British health care company Smith & Nephew bought rights to Dermagraft for $10 million. A few years later, the company sold. May 17,  · The company that initially developed Dermagraft, Advanced Tissue Sciences, filed for bankruptcy in and went out of business. Canaan and some other investors obtained rights to the product and started Advanced BioHealing, which is profitable and had revenue of $ million in , up from $ million in Advanced Tissue. By looking at wound care from the patient’s point of view, we have designed packaging which simplifies the process. Our innovative smartPAC® packages are tailor-made for each individual and conveniently delivered to the patient’s doorstep in unit-dose packaging which takes the guesswork out of treatment. advanced tissue sciences bankruptcy

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Bloch is in many ways the father of the bride. The product consists of living cells, initially derived from a circumcised foreskin, that are grown on a mesh scaffold. The company that initially developed Dermagraft, Advanced Tissue Sciences, filed for bankruptcy in and went out of business.

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Abandoning operations it purchased less than three years ago — and its ambitions of building a regenerative medicine powerhouse — Shire has sold its Dermagraft manufacturing plant in La Jolla. Purchaser Organogenesis, based in Canton, Mass. It will not pay any money upfront. Dermagraft, made of living human cells, is approved to treat diabetic foot ulcers.

Organogenesis sells a similar product, Apligraf, approved to treat venous ulcers and diabetic foot ulcers. The sale puts Dermagraft into the hands of its fifth owner since the product was approved in Dermagraft was developed by now-defunct Advanced Tissue Sciences, whose main competitor was Organogenesis.

Both companies went bankrupt, but Organogenesis reorganized and today operates as a privately held company. Last year, Shire halted work on the campus, which is not part of the sale. Its ultimate fate remains undetermined. Shire sold Dermagraft in part because of a change in federal Medicare reimbursement rules that reduced the amount paid for wound-healing products like Dermagraft, said spokeswoman Jessica Mann.

However, Organogenesis intends to keep as many of them as feasible, said its president and chief executive, Geoff MacKay. An Organogenesis survey found that a little over employees actually work in the La Jolla location; the rest include salespeople and other field-based employees, a spokeswoman said Wednesday.

Organogenesis itself has laid off employees in response to the lowered Medicare reimbursement rates, MacKay said. Offering clinicians the opportunity to provide patients with wound care products and an unparalleled education in how to use them.

Delivering convenience and efficiency with an unrivaled inventory and on-demand videos offering real-time, wound-dressing training. Access to our extensive product selection for home health agencies needing a specialty distributor for wound care dressings.

We ship directly to patients at home and in long-term care facilities to ensure accuracy and speed of delivery - giving patients what they need when they need it. Our innovative packaging and educational resources eliminate the confusion of dressing your wound at home and provide the confidence to collaborate with your doctor in the healing process.

To provide peace of mind on that journey, we also take care of verifying and billing your insurance providers. Next time you discuss wound care treatment with your doctor, ask about what smartPAC can do for you.

Since founding our company nearly two decades ago, our sole focus has been on wound care. Accordingly, we have an intimate and comprehensive understanding of the complexities faced by patients and medical practitioners alike when treating wounds. This is why we decided to keep things simple with smartPAC. The inventive packaging design and technology included in each shipment reduces the workload for clinicians — resulting in fewer redundant calls about dressing changes so that you and your staff can see more patients and feel less rushed.

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