Press Release Source: Uroplasty, inc. on Friday November 19, 2010, 7:30 am EST
MINNEAPOLIS, Nov. 19, 2010 /PRNewswire/ — Uroplasty, inc. (Nasdaq:UPI – News), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today announced that Palmetto GBA for California, Nevada and Hawaii, a regional Medicare carrier, now covers posterior tibial nerve stimulation (PTNS) using the Urgent® PC Neuromodulation system for the treatment of the symptoms of overactive bladder.
Palmetto GBA will cover PTNS therapy for patients who have failed or demonstrated intolerance to standard anticholinergic drug therapy. Coverage includes an initial course of 12 weekly PTNS treatments, and for those patients who respond to the initial treatments, additional treatments once every three weeks for up to one year.
With this positive PTNS coverage and the positive coverage announced previously by five other regional carriers, the total number of lives covered by Medicare regional carriers is approximately 12 million. the five other regional carriers include Noridian Administrative Services, LLC, for North and South Dakota, Montana, Washington, Wyoming, Utah and Arizona; Palmetto GBA for South Carolina; CIGNA Government Services for Idaho and North Carolina; Palmetto GBA for Ohio and West Virginia; and Pinnacle Business Solutions for Arkansas and Louisiana.
“We believe the strong clinical data that supports PTNS led the regional Medicare carriers to determine that PTNS treatments meet the criteria for medical necessity,” said David Kaysen, President and CEO of Uroplasty, inc. “We continue to present the growing body of clinical data to the medical directors of the other Medicare carriers, and private payers, to encourage them to cover and reimburse PTNS.”
About Uroplasty, inc.
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 uroplasty.com.
Forward-Looking Information
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.
For Further Information:
Uroplasty, inc.
David Kaysen, President and CEO, or
Medi Jiwani, Vice President, CFO, Treasurer
EVC Group
Doug Sherk/Jenifer Kirtland (Investors), 415.896.6820
Chris Gale (Media), 646.201.5431