Healthcare Industry News: V.A.C. Therapy
News Release - March 8, 2010
KCI Announces Reimbursement Approval in JapanReimbursement Clears Way to Commercialize KCI’s Revolutionary V.A.C.® Therapy System in Japan
SAN ANTONIO--(HSMN NewsFeed)--Kinetic Concepts, Inc. (NYSE: KCI ) today announced it has received reimbursement approval from Japan’s Health Insurance Bureau for use of the innovative V.A.C. ATS® Therapy System in the country. The approval signifies an important advancement in the company’s plans for market launch in April and follows Japan’s Ministry of Health, Labor and Welfare’s decision in November 2009 to grant final regulatory approval for the product.
The decision provides reimbursement coverage to physicians and hospitals for using the V.A.C. ATS® Therapy System on patients suffering from severe wounds. V.A.C.® Therapy, a product of KCI’s Active Healing Solutions™ division, promotes wound healing through Negative Pressure Wound Therapy. V.A.C.® Therapy has treated more than three million patients worldwide and has been clinically proven in more than 20 randomized controlled trials and nearly 500 peer-reviewed journals.
“Japan represents a very important and underserved market for advanced wound care,” said Catherine Burzik, KCI’s president and CEO. “This reimbursement decision serves as a significant milestone as we plan for market launch and first patient placements in early April. We are pleased that the Japanese government has recognized the clinical value of our V.A.C.® Therapy for patients, and the people of KCI are committed to helping physicians and nurses improve the lives of wound care patients in Japan.”
Added Mike Genau, KCI’s global president, Active Healing Solutions™, “We see tremendous opportunity to serve patients across the Asia Pacific region, and we’re proud to bring our V.A.C.® Therapy to help patients in Japan heal faster. Our clinical trial in Japan clearly demonstrated the benefit V.A.C.® Therapy will bring to patients and the Japanese healthcare system. We look forward to our work in Japan and continue to invest significant resources to create a long-term presence in the country.”
Kinetic Concepts, Inc. (NYSE:KCI ) is a leading global medical technology company devoted to the discovery, development, manufacture and marketing of innovative, high-technology therapies and products for the wound care, tissue regeneration and therapeutic support system markets. Headquartered in San Antonio, Texas, KCI's success spans more than three decades and can be traced to a history deeply rooted in innovation and a passion for significantly improving the healing and the lives of patients around the world.
The Company employs more than 6,800 people and markets its products in more than 20 countries. For more information about KCI, and how its products are changing the practice of medicine, visit www.kci1.com.
This press release contains forward-looking statements regarding expected timing of commercial launch of V.A.C.® Therapy in Japan. Forward-looking statements may contain words such as believes, expects, anticipates, estimates, projects, intends, should, seeks, future, continue, or the negative of such terms, or other comparable terminology. Forward-looking statements are subject to risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Additional risks and factors are identified in KCI's filings with the U.S. Securities Exchange Commission (the SEC), including its Annual Report on Form 10-K for the fiscal year ending December 31, 2009, which is available on the SEC's Web site at www.sec.gov. KCI undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Kinetic Concepts
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