T2 Biosystems Inc (TTOO)

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INCREASING PARTNERSHIPS WITH LARGER HOSPITAL SYSTEMS
"We're excited that we recently entered into multi-year pricing agreements with two large U.S. health systems, covering a total of 69 U.S. hospitals. The key hospitals in each of these two health systems are multi-year users of T2 Biosystems sepsis test panels. T2Dx instruments in U.S. hospital laboratories that were initially sold for COVID-19 testing are being converted to our sepsis test panels as well as other instruments during the first quarter of 2023. We expect additional conversions from COVID-19 to sepsis in the coming months which will be a significant boost to revenue.

The new agreements provide these 69 U.S. hospitals with contracted pricing for the T2Bacteria Panel and the T2Candida Panel for an initial 3-year period as well as options to procure T2Dx instruments. We're certainly excited about the opportunity to expand the use of our sepsis products within these two large health systems."