MINNETONKA, Minn., April 8, 2011 /PRNewswire/ -- 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."
About Uroplasty
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.
Safe Harbor
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.
Company Contact:
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Investor Relations
Contacts:
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Media Contact:
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Uroplasty, Inc.
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EVC Group, Inc.
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EVC Group, Inc.
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David Kaysen, CEO
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Doug Sherk/Jenifer
Kirtland
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Chris Gale/ Steve
DiMattia
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(952) 426-6140
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(415) 896-2005
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(646) 201-5431
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dave.kaysen@uroplasty.com
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dsherk@evcgroup.com
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cgale@evcgroup.com
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jkirtland@evcgroup.com
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sdimattia@evcgroup.com
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SOURCE Uroplasty, Inc.