February 22, 2017 9:20 AM ET

Healthcare Equipment and Supplies

Company Overview of Surgical Specialties Corporation

Company Overview

Surgical Specialties Corporation, doing business as Angiotech, manufactures surgical products. The company offers suture needles, sutures, microsurgical cutting instruments, eye garters, and ophthalmic cannulas. It has a manufacturing site in Rincon, Puerto Rico. The company was founded in 1971 and is based in Reading, Pennsylvania. Surgical Specialties Corporation operates as a subsidiary of Angiotech Pharmaceuticals Inc.

100 Dennis Drive

Reading, PA 19606

United States

Founded in 1971





Key Executives for Surgical Specialties Corporation

Surgical Specialties Corporation does not have any Key Executives recorded.

Surgical Specialties Corporation Key Developments

Surgical Specialties Corporation Announces Medicare Approval of Transitional Pass Through Reimbursement for Biosentry Track Sealant System

Surgical Specialties Corporation announced that the U.S. Centers for Medicare and Medicaid Services (CMS) has approved a transitional pass-through payment for Surgical Specialties' BioSentry Track Sealant System under the Medicare hospital outpatient prospective payment system (OPPS). This important approval removes a potential barrier to patient access to this new medical device, which offers the potential to improve outcomes for patients undergoing a percutaneous transthoracic lung biopsy. Approved by the U.S. Food and Drug Administration (FDA) based on clinical data from its pivotal trial, BioSentry offers clinicians and patients a new therapy option that has demonstrated superior clinical outcomes to the current standard of treatment for this procedure. The BioSentry System delivers a hydrogel plug placed into the lung along the biopsy needle tract, which expands to prevent air from leaking out and creating a pneumothorax. In a prospective, randomized, multicenter clinical trial of 339 patients, BioSentry was found to significantly reduce the risk of pneumothorax by a relative risk reduction of greater than 50%. Pneumothorax can require additional treatment costs and interventions including chest tube placements, additional radiographs, inpatient admission or emergency room visits, delayed time to ambulation and hospital discharge. The BioSentry trial also demonstrated reduction of relative rates of additional radiographs by 44%, chest tube placements by 67% and post-procedure admissions by 35%. Pneumothorax is the most common cost and care-intensive complication of CT-guided percutaneous lung biopsy, occurring in 15-42% of patients. This supplemental reimbursement provision takes effect on July 1, 2015 and aims to cover the additional cost to U.S. hospitals for treating Medicare beneficiaries with BioSentry in the outpatient setting. The Healthcare Common Procedure Coding System (HCPCS) code for this new device category will be C2613 (lung biopsy plug with delivery system).

Surgical Specialties Corporation Announces Three Year Suture Products Agreement with Premier, Inc

Surgical Specialties Corporation announced that it has been awarded a group purchasing agreement with Premier Inc. to provide its recently expanded portfolio of suture products to Premier's extensive network of 3,400 hospitals and 110,000 healthcare providers. The three year agreement will be effective on April 1, 2015. The start of this new contract coincides with the planned expansion of the Sharpoint line of sutures for use in more advanced surgical procedures, in addition to the current micro and ophthalmic surgery offerings. The new Sharpoint Plus Surgical Suture incorporates a new needle design and expanded options, created for and with the support of multi-specialty surgeon users. The upgraded needles offer smooth penetration on first and multiple passes, a desired quality for more advanced wound closure applications, such as plastic surgery. Sharpoint Plus Surgical Suture joins Sharpoint Microsuture and Opthalmic Suture, and Quill Knotless Tissue-Closure to allow for a comprehensive portfolio of advanced wound closure products to be purchased by Premier members from Surgical Specialities Corp. and its' nationwide network of authorized distributors.

Similar Private Companies By Industry

Company Name Region
.decimal, Inc. United States
20/20 GeneSystems, Inc. United States
20/20 Imaging LLC United States
21st Century Scientific, Inc. United States
21X Corporation United States

Recent Private Companies Transactions

No transactions available in the past 12 months.

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Surgical Specialties Corporation, please visit --. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.