ENvue Medical Inc. (NASDAQ:FEED) on Tuesday said an integrated nonprofit health system operating 12 hospitals across Virginia and North Carolina renewed its contract with the company for another three years, extending the relationship through 2028.
ENvue Medical Extends Health System Agreement Through 2028
The commercial-stage medical device company said its ENvue Navigation Platform has been adopted as the standardized protocol for bedside enteral feeding tube placement across the health system’s hospitals.
The company described the renewal as a broader endorsement of its technology beyond traditional purchasing agreements.
According to ENvue Medical, standardization means the platform is embedded into routine clinical workflows rather than simply being available for optional use.
CEO Says Renewal Reflects Deeper Clinical Integration
“This renewal is a qualitatively different kind of milestone for ENvue,” said Doron Besser, CEO of ENvue Medical.
Besser said the company views the systemwide adoption as validation of the platform’s clinical performance in real-world care settings.
The ENvue Navigation Platform is designed to support real-time guided bedside feeding tube placement.
ENvue Targets Additional Health System Adoption
The company added that its strategy includes converting existing contracted access agreements into active clinical adoption while building longer-term commercial relationships with healthcare institutions.
The company believes the latest renewal demonstrates sustained adoption within a large health network and reinforces its broader commercialization efforts in the hospital market.
In March, ENvue Medical announced a significant purchase of its ENvue Navigation Platform and feeding tubes by a teaching hospital and Level I Trauma Center in the Detroit metropolitan area.
The partnership expands ENvue’s presence to 39 hospitals across the U.S., emphasizing the importance of real-time visualization in feeding tube placement.
In January, ENvue Medical inked a distribution agreement with U-Deliver to distribute ENvue’s recently launched over-the-counter reusable ENFit Syringes product line nationwide through non-acute care channels.
The over-the-counter ENFit Syringes are designed to meet both feeding and medication delivery clinical needs.
FEED Price Action: ENvue Medical shares were up 6.56% at $1.30 during premarket trading on Tuesday, according to Benzinga Pro data. Over the past month, FEED has declined about 23.3% versus a 9.1% rise in the S&P 500 and is down roughly 49% year-to-date compared to the index’s 7.8% gain.
Image via Shutterstock/ Deemerwha studio
Recent Comments