CHESTERBROOK, PA — Trevena Inc. (NASDAQ: TRVN) has announced that it has secured a national group purchasing agreement with Premier Inc. for its product, OLINVYK. The agreement came into effect on December 1, 2023, and provides Premier members the option to leverage special pricing and terms that have been pre-negotiated by Premier for OLINVYK.
Premier Inc. is a renowned healthcare improvement company, working closely with an extensive alliance of approximately 4,350 U.S. hospitals and 300,000 other providers with the aim of transforming healthcare. They achieve this through a comprehensive suite of services, including integrated data and analytics, collaboratives, supply chain solutions, consulting, and more. These services enable Premier to facilitate better care and outcomes at a lower cost.
The newly formed agreement between Trevena and Premier marks a milestone for both companies. It provides Premier’s vast network of members the opportunity to benefit from preferential pricing and terms for OLINVYK – a crucial factor that could positively influence patient care and bottom lines.
OLINVYK, one of Trevena’s leading products, now stands to see a potentially increased uptake thanks to the agreement. This deal not only solidifies Trevena’s standing within the pharmaceutical sector but also underscores the company’s commitment to making their products more accessible to healthcare providers nationwide.
This move by Trevena aligns with the current trend in the healthcare industry towards group purchasing organizations. These organizations bring together hospitals and healthcare providers, allowing them to pool their buying power and secure products at reduced costs. With this new agreement, Trevena effectively taps into this trend, positioning OLINVYK advantageously in the market.
As the healthcare landscape continues to evolve, strategic partnerships like this one between Trevena and Premier will likely become increasingly crucial. By prioritizing accessibility and affordability, these companies are not just driving business growth – they’re also playing a significant role in shaping the future of healthcare.
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