MINNEAPOLIS, Aug. 23 Uroplasty, Inc. (Nasdaq: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today announced that Noridian Administrative Services, LLC and Palmetto GBA, South Carolina, both regional Medicare carriers, now cover percutaneous, posterior tibial nerve stimulation (PTNS) using the UrgentŪ PC Neuromodulation System for the treatment of the symptoms of overactive bladder. Noridian administers benefits for Medicare beneficiaries in North and South Dakota, Montana, Wyoming, Utah and Arizona. The Palmetto GBA policy covers Medicare beneficiaries in South Carolina.
Both Noridian and Palmetto GBA will cover PTNS therapy for patients who have failed, or demonstrated intolerance to, the standard anticholinergic drug therapy. Coverage includes an initial course of 12 weekly PTNS treatments, and for those patients who respond to the initial PTNS treatments, additional treatments once every three weeks for up to one year. Claims for PTNS treatments can be billed electronically using the unlisted CPT code 64999. In addition, Noridian has indicated that up to three physician consultations to evaluate and manage treatments during the initial course of PTNS therapy will also be reimbursed.
"We are very pleased and excited that these two regional Medicare carriers now cover PTNS treatments using our Urgent PC Neuromodulation System," said David Kaysen, President and CEO of Uroplasty, Inc. "Both carriers have reviewed our strong clinical data and determined that PTNS treatments should be covered and reimbursed for the beneficiaries within their coverage areas. We are continuing to actively meet with medical directors of other Medicare carriers and private payers to share with them the strong clinical data and encourage them to cover and reimburse PTNS treatments."
Links to the websites providing details on the coverage policies of the two Medicare carriers are as follows:
For Palmetto GBA: http://www.cms.gov/mcd/viewlcd_pdf.asp?lcd_id=27267&lcd_version=10&contractor_id=19
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 system, which we believe is the only FDA-approved minimally invasive nerve stimulation device designed for office-based treatment of urinary urgency, urinary frequency and urge incontinence - symptoms often associated with overactive bladder.
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.
For Further Information: Uroplasty, Inc. EVC Group --------------- --------- David Kaysen, President and CEO, or Doug Sherk (Investors) Medi Jiwani, Vice President, CFO, and Treasurer 415.896.6820 952.426.6140 Chris Gale (Media) 646.201.5431
SOURCE Uroplasty, Inc.