28 April 2022

Interrad Medical Inc. adopts a strategic approach to US sales

Written by Andrew Boyle

Interrad has developed the SecurAcath Subcutaneous Catheter Securement System, which holds virtually any catheter securely in place without sutures or adhesives. Supported by more than 20 third party clinical studies, SecurAcath is set to become the worldwide standard of care. While the product range is sold via specialist distributors outside the US, the absence of such networks in the US created a requirement for a strategic solution.

With effect from 1st April, Interrad has entered into a central procurement contract with Vizient, the largest healthcare procurement organisation in the US with over 50% of hospitals being Vizient members. This covers central pricing and order management via Vizient’s procurement portal. In conjunction with the contract, Vizient designated SecurAcath as an Innovate Technology. Vizient member-led councils identify technologies such as SecurAcath that have the potential to enhance clinical care, patient safety, healthcare worker safety or improve business operations of health care organisations.

Interrad has also entered into a distribution partnership with Eloquest Healthcare. This has increased Interrad’s sales resources from an in-house team of four focusing on academic medical centres to a team of 25 selling SecurAcath alongside Eloquest’s complementary product range to all relevant hospitals nationwide. Eloquest has undertaken the management of clinical evaluations of SecurAcath and the training of hospital staff with corresponding cost-savings for Interrad. Responsibility for order fulfilment and invoicing remains with Interrad.

The partnership with Eloquest has already shown results with the adoption of SecurAcath by two substantial hospital groups. These are Loma Linda University Medical Center in California and Intermountain Health System, which is based in Utah. These new customers were in dialogues with Interrad for some time, but the additional resources of Eloquest facilitated the conversion decision and the adoption and training processes.

Loma Linda has three hospital locations with 618 beds including a children's hospital, which is relevant to SecurAcath given the challenges of securing catheters of babies and young children. The training programme covered 950 staff including 300 staff who are expected to be frequent users of SecurAcath. Intermountain has 27 hospitals in Utah, Colorado, Idaho, and Montana with a total of 4,700 beds. A phased training and adoption programme has been scheduled for May. In both cases, the hospital groups view PICC lines as the primary application for SecurAcath, but are also aiming to adopt the device to secure central lines and drainage catheters too.

The feedback from Eloquest has been very positive. They have complimented Interrad on the effectiveness of its remote training capabilities, which Eloquest is now utilising. This is important as remote training will form a key part of Eloquest’s scaled-up evaluation and adoption process. Hitherto, Interrad’s staff have responded to prospective customers on a case-by-case basis. Eloquest is standardising procedures in order to increase capacity control costs. Eloquest’s management have also recognised the importance of SecurAcath as a flagship product, particularly as Eloquest’s own products are relatively commoditised.

The outlook is positive as Eloquest has introduced a number of hospital groups not yet engaged with Interrad.

LGB & Co. Limited has acted as placement agent for capital raisings by Interrad since 2014.  The company has raised $35 million in preferred equity and $15 million through the issue of promissory notes.

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