MINNEAPOLIS, Sept. 13, 2017 /PRNewswire/ -- Cogentix Medical,
Inc. (NASDAQ: CGNT), a global medical device company focused
on providing the Urology, Uro/Gyn and Gynecology markets with
innovative and proprietary products, today announced that Cahaba
Government Benefit Administrators, LLC has modified their policy
for Percutaneous Tibial Nerve Stimulation (PTNS) delivered via
Cogentix Medical's Urgent® PC Neuromodulation System to
allow for ongoing maintenance treatments for an indefinite period
of time.
"This policy update further reinforces the medical necessity of
Urgent PC as a long-term solution for patients suffering with
overactive bladder symptoms," said Darin
Hammers, President and CEO. "Additionally, the policy change
to indefinite coverage allows the patient and physician to decide
whether to continue ongoing treatment with Urgent PC to sustain
their symptomatic improvements."
Urgent PC is a recommended third line treatment within the OAB
treatment guidelines for patients who have not responded or cannot
tolerate behavioral intervention and pharmacologic agents. Urgent
PC patients receive an initial series of 12 treatments to determine
optimal response after which most patients need a treatment about
every month to keep their symptoms under control.
Since 2014, all Medicare beneficiaries have had access to Urgent
PC therapy. Currently all Medicare Contractors cover PTNS
maintenance therapy for at least two years. Cahaba is the fourth
Medicare Contractor to cover Urgent PC maintenance treatments for
an indefinite period of time.
About Cogentix Medical
Cogentix Medical, Inc., headquartered in Minnetonka, Minnesota, with additional
operations in New York,
Massachusetts, The Netherlands and the United Kingdom, is a global medical device
company. We design, develop, manufacture and market products
for flexible endoscopy with our unique PrimeSight™ product lines
featuring a streamlined visualization system and proprietary
sterile disposable microbial barrier providing users with efficient
and cost effective endoscope turnover while enhancing patient
safety. We also commercialize the Urgent® PC
Neuromodulation System, an FDA-cleared device that delivers
percutaneous tibial nerve stimulation (PTNS) for the office-based
treatment of overactive bladder (OAB). OAB is a chronic condition
that affects approximately 42 million U.S. adults. The symptoms
include urinary urgency, frequency and urge incontinence. We
also offer Macroplastique®, an injectable urethral bulking agent
for the treatment of adult female stress urinary incontinence
primarily due to intrinsic sphincter deficiency. For more
information on Cogentix Medical and our products, please visit us
at www.cogentixmedical.com. 'CGNT-G'
For Further Information:
Cogentix Medical, Inc.
Brett Reynolds, SVP and CFO
952-426-6152
EVC Group
Brian Moore/Doug Sherk
310-579-6199/415-652-9100
Cautionary Statements Related to Forward-Looking
Statements
This press release includes forward-looking statements. These
forward-looking statements generally can be identified by the use
of words such as "anticipate," "expect," "plan," "could," "may,"
"will," "believe," "estimate," "forecast," "goal," "project," and
other words of similar meaning. Forward-looking statements in this
press release include, but are not limited to, statements about
expected revenue growth rates; the Company's expectations regarding
operating profit and cash operating profit; and plans, objectives,
expectations and intentions with respect to future operations,
products and services. Each forward-looking statement contained in
this press release is subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by such statement. Applicable risks and uncertainties
include, among others, the effects of industry, economic or
political conditions outside of the Company's control; competitive
market factors; actual or contingent liabilities; the adequacy of
the Company's capital resources; and the risks identified under the
heading "Risk Factors" in the annual report on Form 10-K, for the
year ended December 31, 2016, filed
with the Securities and Exchange Commission ("SEC") on March 30, 2017. Investors are cautioned to not to
place considerable reliance on the forward-looking statements
contained in this presentation. Investors are encouraged to read
the Company's filings with the SEC, available at www.sec.gov, for a
discussion of these and other risks and uncertainties. The
forward-looking statements in this presentation speak only as of
the date of this release, and the Company undertakes no obligation
to update or revise any of these statements. The Company's
businesses are subject to substantial risks and uncertainties,
including those referenced above. Investors, potential investors,
and others should give careful consideration to these risks and
uncertainties.
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SOURCE Cogentix Medical, Inc.