MINNEAPOLIS, Nov. 19, 2010 /PRNewswire/ -- Uroplasty, Inc.
(Nasdaq: UPI), 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
www.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
952.426.6140
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EVC Group
Doug Sherk/Jenifer Kirtland
(Investors), 415.896.6820
Chris Gale (Media),
646.201.5431
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SOURCE Uroplasty, Inc.