Conceptus(R) Comments on U.S. Supreme Court Ruling on the Patient Protection and Affordable Care Act of 2010
June 28 2012 - 2:07PM
Conceptus, Inc. (Nasdaq:CPTS), developer of the
Essure® procedure, the leading non-surgical permanent birth control
method, today announced that as a result of the decision by the
U.S. Supreme Court to uphold the majority of the Patient Protection
and Affordable Care Act of 2010 (ACA), including the preventive
health services provisions, all U.S. Food and Drug Administration
approved contraceptive methods including permanent birth control
such as the Essure procedure must be made available without cost to
womeni in all private insurance plans.
Under the ACA, private health plans are required to begin
covering contraceptive services in new plan years starting on or
after August 1, 2012. Based upon initial research of existing
private health plans, Conceptus estimates that few will offer
no-cost coverage as of August 1, 2012, but a majority are claiming
they will have implemented this coverage by April
2013. Currently most insurance plans already cover the Essure
procedure with a reasonable co-pay, subject to annual deductible
requirements.
"The court's decision leaves in place those portions of the
existing law that will remove any remaining cost barriers for women
with private insurance to get the Essure procedure. We can't
yet predict how our business will be impacted by the ACA over the
next year or so," said D. Keith Grossman, president and chief
executive officer of Conceptus, "but we certainly see it as a
positive for our patients and for our business as we focus on
replacing tubal ligation procedures as the standard of care in the
female permanent birth control market."
About the Essure® Procedure
The Essure procedure, FDA approved since 2002, is the first
permanent birth control method that can be performed in the comfort
of a physician's office in less than 10 minutes (average
hysteroscopic time) without hormones, cutting, burning or the risks
associated with general anesthesia or tubal ligation. Soft,
flexible inserts are placed in a woman's fallopian tubes through
the cervix without incisions. Over the next three months, the body
forms a natural barrier around and through the inserts to prevent
sperm from reaching the egg. Three months after the Essure
procedure, a doctor is able to perform an Essure Confirmation Test
to confirm that the inserts are properly placed and that the
fallopian tubes are fully blocked, allowing the patient to rely
upon Essure for permanent birth control.
The Essure procedure is 99.83% effective based on five years of
follow up with zero pregnancies reported in clinical trials, making
it the most effective form of permanent birth control on the
market. Essure's 10-year commercial data tracks closely with
its five-year clinical results, and Essure has been proven and
trusted by physicians since 2002. The Essure procedure is
covered in the U.S. by most public and private insurance plans and
more than 625,000 women worldwide have undergone the
procedure.
About Conceptus®, Inc.
Conceptus, Inc. is the leader in the development of innovative
device-based solutions in permanent birth control. The Company
manufactures and markets the Essure procedure, which is available
in the United States, Europe, Australia, New Zealand, Canada,
Mexico, Central and South America and the Middle East.
Please visit www.essure.com for more information on the Essure
procedure. Patients may call the Essure Information Center at
1-877-ESSURE-1 with questions or to find a physician in their
area.
The Conceptus, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7961
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, the accuracy of which is subject to known and unknown
risks and uncertainties. These forward-looking statements include,
without limitation, discussions regarding the potential impact to
our business related to the Patient Protection and Affordable
Care Act of 2010 as amended, our ability to grow the business, and
our ability to replace tubal ligation procedures as the standard of
care in the female permanent birth control market. These
discussions and other forward-looking statements included herein
may differ significantly from actual results. Such differences may
be based upon factors such as changes in strategic planning
decisions by management, re-allocation of internal resources,
changes in the impact of domestic and global macroeconomic
pressures, reimbursement decisions by insurance companies and
domestic and foreign governments, scientific advances by third
parties, litigation risks, and attempts to amend or repeal all or
part of the Patient Protection and Affordable Care Act of 2010 as
amended, as well as those factors set forth in the Company's most
recent Annual Report on Form 10-K and most recent Quarterly Report
on Form 10-Q, and other filings with the Securities and Exchange
Commission. These forward-looking statements speak only as to the
date on which the statements were made. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
© 2012 Conceptus, Inc. – All rights reserved.
i Group health plans sponsored by certain religious employers,
and group health insurance coverage in connection with such plans,
are exempt from the requirement to cover contraceptive
services.
CONTACT: Investor and Public Relations Contact:
Cindy Klimstra
(650) 962-4032
cindy_klimstra@conceptus.com
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