Activity

Siemens & UTAK: Renewal of Pricing Agreement - September 04 VIEW RECORDING: https://fathom.video/share/ryJe1kEMWsCLU_mXxkAEyvZ_mak-cqu8 Pricing agreement renewal @ 8:50 Raleigh from UTAK Laboratories initiated the meeting to open discussions on renewing the pricing agreement with Siemens Healthineers. The current pricing has been in place for over 10 years, but UTAK's costs have increased significantly, particularly for packaging. UTAK wants to establish a refreshed pricing agreement to maintain competitive pricing for Siemens while accounting for their cost increases. Strengthening partnership @ 14:28 Both teams expressed a desire to have more frequent, proactive discussions to strengthen their partnership, beyond just addressing issues. They agreed this pricing agreement renewal is a good opportunity to establish a more collaborative, transparent, and aligned approach going forward. Fiscal year alignment @ 16:47 Jim from Siemens revealed that their fiscal year ends in September, so any pricing changes would need to be aligned to that timeline. This was new information to the UTAK team, highlighting the need to ensure both companies have the same understanding of the existing agreement details. Next steps and timeline @ 17:32 Jim requested that UTAK provide a formal proposal outlining the current pricing, proposed pricing for next year, and the rationale for the changes. He will review this with his management team and aim to provide a response within 1-2 weeks. They agreed to schedule a follow-up call after UTAK sends the proposal. Shelf life update @ 23:44 The group discussed the status of the product shelf life extension, noting that the next batch will have a 6-month expiration while UTAK completes accelerated stability testing to reinstate the 24-month shelf life. They plan to provide updates on this in their regular 3-4 week cadence meetings.