Vancive Medical Technologies, a unit of
Avery Dennison Corporation
), has entered into an agreement with
) for licensing and distribution of its BeneHold Chlorhexidine
Gluconate (CHG) antimicrobial adhesive technology. This
technology is for applications in vascular access.
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Under the agreement, CareFusion will promote Vancive's CHG
technology in the U.S., Canada and Mexico and it will be
co-branded under CareFusion's new brand, ChloraShield. The
product already received 510(k) approval from the U.S. Food and
Drug Administration (FDA) in Sep 2012.
At present, the health care industry demands diverse functional
adhesive materials for highly specialized applications. Medical
tapes and films need to be durable, flexible and safe to use in a
range of conditions and combinations - in some cases, within the
human body itself.
CareFusion and Vancive are working together to develop a
comprehensive line of dressing products to meet the specific
needs associated with various vascular access procedures.
CareFusion's infection preventive expertise together with
Vancive's advanced technology has formulated the BeneHold (CHG)
adhesive. It is used in transparent dressings to protect the
catheter insertion areas.
The collaboration reflects CareFusion's leadership initiatives in
CHG products. The product will help CareFusion expand its
infection prevention and vascular access product portfolios,
providing greater value to customers. CareFusion expects to
commercialize these offerings during the third quarter of fiscal
2014, which begins in April.
Avery, which operates in the office supply, labeling and
packaging industry along with
CompX International Inc.
OSL Holdings Inc.
), reported adjusted earnings of 69 cents per share in the third
quarter 2013, up 35% year over year and ahead of the Zacks
Consensus Estimate of 65 cents. The results benefited from higher
revenues in the core segments as well as Avery's restructuring
and other productivity actions.
With the divestiture of the underperforming Office and Consumer
Products unit, Avery Dennison will be able to focus on its core
segments and enhance its growth profile. However, the uncertain
macroeconomic environment remains a headwind.
Avery currently holds a Zacks Rank #2 (Buy).
Pasadena, Calif.-based Avery Dennison manufactures
pressure-sensitive materials and tickets, tags, labels and other
converted products. Avery has over 200 manufacturing and
distribution facilities across more than 60 countries.