Economic study suggests c.£200 million UK savings
ONDINE BIOMEDICAL INC.
("Ondine Biomedical", "Ondine", or the "Company")
YHEC Health Economic study suggests Steriwave technology could save UK hospitals c.£200 million savings (£2.38 saved for every £1 spent) from reducing surgical site infections in major surgeries
Ondine Biomedical Inc. (LON: OBI) announces that a new health economic analysis by the York Health Economics Consortium (YHEC) has confirmed that using Steriwave® nasal decolonization prior to major surgery delivers substantial net cost savings. YHEC has demonstrated that for every £1 spent on Steriwave to prevent surgical site infections (SSI), the NHS can save an average of £1.49 to £2.38 across major surgical specialties. With £38 to £107 net saving per operation, Steriwave has the potential to save the UK hospitals, including the NHS, up to £200 million annually.[1]
The YHEC analysis, which employed rigorous micro-costing and literature-based methodologies, highlights Steriwave's compelling health economic advantages across various surgical categories:
· Overall Surgeries (hip, knee, spinal, cardiac, vascular): the micro-costing analysis showed that Steriwave achieved net cost savings of £38,180 per 1,000 patients, representing a return of £1.49 saved for every £1 spent. A broader literature-based costing method further validated these benefits, yielding aggregate net savings of £107,530 per 1,000 patients, or £2.38 saved for every £1 spent.
· Cardiac Surgeries: Steriwave demonstrated the most significant savings in cardiac surgeries, with net cost savings reaching up to £228,090 per 1,000 patients. This translates to a return of up to £3.92 for every £1 spent.
· Hip and Knee Surgeries: For both hip and knee procedures, Steriwave generated substantial net savings of approximately £86,650 and £84,430 per 1,000 patients, respectively, equating to approximately £2.10 in savings for every £1 spent.
Carolyn Cross, CEO of Ondine Biomedical, stated:
"In an era where healthcare systems face unprecedented challenges with resource constraints, lengthy waitlists, and budgetary pressures, infection prevention is paramount for both cost containment and patient well-being. While the substantial return on investment demonstrated by this analysis is crucial for driving the widespread adoption of this innovative, non-antibiotic presurgical prevention protocol, it is imperative that we acknowledge the profound impact SSI have on patients and their families.
"The agonizing reality of a prolonged recovery and extended hospital stays following a seemingly routine surgery like a knee replacement can be life-altering. Ondine Biomedical is dedicated to empowering healthcare systems to proactively prevent these devastating infections. We are incredibly proud that Steriwave offers the potential for significant hospital savings while simultaneously improving patient outcomes."
The YHEC findings align with previously reported clinical effectiveness data from Mid Yorkshire Teaching NHS Trust, the first NHS Trust to implement Steriwave. Real-world data showed that Steriwave prevents 9.8 SSIs (0.98%) per 1,000 patients more effectively than the standard of care alone, contributing to a significant reduction of 139 hospital bed days.
Dr. Stuart Bond, Consultant Antimicrobial Pharmacist and Director of Innovation at Mid Yorkshire Teaching NHS Trust, stated:
"The YHEC analysis provides valuable confirmation of the link between Steriwave and reduced SSI rates in orthopaedic surgery, even when used alongside existing protocols. We are keen to explore Steriwave's potential as a replacement for current standards and its application in surgical specialties with higher SSI rates. The positive feedback from patients and staff highlights its seamless integration and high level of acceptance."
The YHEC economic analysis was commissioned by Health Innovation Network Yorkshire and Humber and Ondine Biomedical to gain a deeper understanding of Steriwave's health economic impact in the UK. Full details of the analysis are being prepared for publication.
Steriwave is a non-invasive nasal decolonization treatment that utilizes a proprietary light-activated antimicrobial agent to eliminate harmful pathogens in the nose within five minutes. Steriwave is distributed in the UK by Mölnlycke Health Care, a global leader in MedTech, renowned for its innovative solutions in wound care and surgical procedures.
Enquiries:
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Ondine Biomedical Inc. |
www.ondinebio.com |
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Carolyn Cross, CEO |
Via Vane Percy & Roberts |
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Strand Hanson Limited (Nominated & Financial Adviser) |
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James Harris, Richard Johnson |
+44 (0)20 7409 3494 |
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RBC Capital Markets (Broker) |
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Rupert Walford, Kathryn Deegan |
+44 (0)20 7653 4000 |
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Vane Percy & Roberts (Media Contact) |
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Simon Vane Percy, Amanda Bernard |
+44 (0)77 1000 5910 |
About Ondine Biomedical Inc.
Ondine Biomedical Inc. is a Canadian life sciences company and leader in light-activated antimicrobial therapies (also known as 'photodisinfection'). Ondine has a pipeline of investigational products, based on its proprietary photodisinfection technology, in various stages of development.
Ondine's nasal photodisinfection system has a CE mark in Europe and is approved in Canada and several other countries under the name Steriwave®. In the US, it has been granted Qualified Infectious Disease Product designation and Fast Track status by the FDA and is currently undergoing clinical trials for regulatory approval. Products beyond nasal photodisinfection include therapies for a variety of medical indications such as chronic sinusitis, ventilator-associated pneumonia, burns and other indications.
About Mid Yorkshire Teaching NHS Trust
The UK's Mid Yorkshire Teaching NHS Trust provides acute, community and specialist health care services to around half a million people living in Wakefield and North Kirklees. It has three hospitals at Dewsbury, Pontefract and Wakefield (Pinderfields), and also provide care in community settings such as GP surgeries, health centres and clinics as well as in people's own homes.
About York Health Economics Consortium (YHEC):
York Health Economics Consortium (YHEC) is a health economic consulting company formed in 1986 and wholly owned by the University of York. YHEC is the University of York's main consultancy provider of health economics expertise.
About Mölnlycke Health Care
Mölnlycke Health Care is a world-leading MedTech company that specializes in innovative solutions for wound care and surgical procedures. Mölnlycke products and solutions are used daily by hospitals, health care providers and patients in over 100 countries around the world. Founded in 1849, Mölnlycke is owned by Investor AB and headquartered in Sweden. www.molnlycke.com
[1] Surgical volume data from privately-commissioned market research.
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