Healthcare Industry News: neuromodulation
News Release - April 8, 2011
Additional Regional Medicare Carrier Initiates Coverage For Posterior Tibial Nerve Stimulation (PTNS) Delivered Using Uroplasty's Urgent(R) PC Neuromodulation SystemMINNETONKA, Minn., April 8, 2011 -- (Healthcare Sales & Marketing Network) -- Uroplasty, Inc. (NASDAQ:UPI ) announced that NHIC Corp., the Medicare carrier for Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, will cover posterior tibial nerve stimulation (PTNS) using Uroplasty's Urgent® PC neuromodulation System for the treatment of overactive bladder and associated symptoms, effective May 22, 2011.
This decision adds approximately 1.8 million lives to those already covered by other regional Medicare carriers, and makes PTNS treatment coverage available to a total of approximately 31 million Medicare beneficiaries in 35 states.
"As we have indicated in the past, NHIC has been covering PTNS treatments using Urgent PC on a case-by-case basis," said David Kaysen, President and CEO of Uroplasty, Inc. "This Local Coverage Decision by NHIC to cover PTNS treatments further reinforces the strength of our clinical data and support from physicians and provides us the opportunity to expand our Urgent PC business in the New England area sooner than we had anticipated."
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our focus is the continued commercialization of our Urgent® PC neuromodulation System, the only FDA-cleared system that delivers posterior tibial nerve stimulation (PTNS) for the office-based treatment of overactive bladder and associated symptoms of urgency, frequency and urge incontinence. We also offer Macroplastique® Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence primarily due to intrinsic sphincter deficiency. For more information on the company and its products, please visit Uroplasty, Inc. at www.Uroplasty.com.
This press release contains forward-looking statements that reflect our best estimates regarding future events and financial performance. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our anticipated results. We discuss in detail the factors that may affect the achievement of our forward-looking statements in our Annual Report on Form 10-K filed with the SEC. In particular, we cannot be certain that the rate of reimbursement for PTNS treatments will be adequate to justify the cost of our product, that other Medicare carriers or private payers will provide coverage for this treatment, or that any of the other risks identified in our 10-K will not adversely affect our expectations as described in these forward-looking statements.
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