Pompano Beach, Fl., Sept. 01, 2020 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC PINK: BSEM) ("BioStem" or the "Company"), a leading life sciences company specializing in perinatal tissue allografts for use in regenerative therapies, today announced, in partnership with Veterans Medical Distributors Inc., a Service-Disabled Veteran-Owned Small Business (SDVOSB), that it has been awarded a five-year Federal Supply Schedule (FSS) contract for its VENDAJE™ line of amnion membrane allografts, by the U.S. Department of Veterans Affairs (VA).
Under delegated authority by the U.S. General Services Administration (GSA), the VA Federal Supply Schedule (FSS) program supports the VA and numerous other government agencies' healthcare acquisition needs. These programs include medical equipment, supplies, pharmaceuticals, and service contracts, totaling approximately $14 billion in annual sales, which allow Federal customers access to over 1 million state-of-the-art commercial products and services.
The FSS contract encompasses all versions of BioStem's dehydrated amniotic membrane allografts, including; VENDAJE™, VENDAJE™ AC, and VENDAJE™ OPTIC. This contract provides VA clinicians and their patients access to the regenerative wound care benefits at pre-negotiated pricing, with terms and conditions that help streamline the ordering process and reduces healthcare costs.
BioStem Technologies Inc. is honored to be awarded this contract, becoming effective on September 1st, 2020, under contract number: 36F79720D0210.
"As a Veteran Owned Small Business (VOSB) we are honored by the award of this 5-year contract that will allow us to proudly serve our Veterans by providing them the unmatched wound healing benefits of our VENDAJE™ amnion membrane allografts," stated Jason Matuszewski, Chief Executive Officer of BioStem Technologies Inc.
About BioStem Technologies, Inc. (OTC PINK: BSEM): BioStem Technologies, Inc. is a global life sciences corporation, providing innovative technologies with a concentration in Regenerative Medicine. The company's mission is to discover, develop and produce the most effective Regenerative Medicine products in the world. BioStem Technologies offers a comprehensive portfolio of high-quality brands that include RHEO™, OROPRO™, VENDAJE™, VENDAJE™ AC and VENDAJE™ OPTIC. The company is comprised of a diverse group of scientists, physicians, and entrepreneurs who collaborate to create innovative products. These technologies improve the Quality of Life for our patients and, as a result, drive shareholder value. For the latest news and information about BioStem Technologies and its brands, please visit www.biostemtechnologies.com
Forward-Looking Statements: Except for historical fact statements, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," believe" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition, and additional risks factors as discussed in reports filed by the company with OTC Markets.
BioStem Technologies, Inc.
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