CardioNet Announces Humana Upgrades CardioNet System to Covered Benefit Status
September 03 2008 - 8:00AM
Business Wire
CardioNet, Inc. (NASDAQ:BEAT), a leading wireless medical
technology company with an initial focus on the diagnosis and
monitoring of cardiac arrhythmias, today announced that Humana, a
large healthcare third-party payor, upgraded the CardioNet System
to a �covered benefit� status. Previously, the CardioNet System was
categorized by Humana as �experimental-investigational.� Humana�s
11 million covered members will have access to coverage for
prescriptions for the CardioNet System effective September 1, 2008,
subject to normal insurance policy guidelines. Humana�s decision
was impacted by the peer-reviewed results of a 300-patient
randomized clinical trial published in the March 2007 issue of the
Journal of Cardiovascular Electrophysiology, demonstrating that the
CardioNet System provided a significantly higher diagnostic yield
compared to traditional loop event monitoring for patients who had
non-diagnostic Holter monitoring. �With the addition of Humana,
CardioNet now has secured direct contracts with payors covering 188
million lives or 75% of targeted covered lives. The Humana decision
follows a similar decision from another large third-party payor
representing 16 million lives that we announced in March 2008. We
expect that the clinical evidence from the trial will continue to
drive physician adoption of our service and assist in our securing
contracts with additional commercial payors,� said Arie Cohen,
CardioNet Chief Executive Officer. About CardioNet CardioNet, Inc.
is a leading provider of ambulatory, continuous, real-time
outpatient management solutions for monitoring relevant and timely
clinical information regarding an individual�s health. CardioNet�s
initial efforts are focused on the diagnosis and monitoring of
cardiac arrhythmias, or heart rhythm disorders, with a solution
that it markets as the CardioNet System. More information can be
found at http://www.cardionet.com. Forward Looking Statements This
press release includes certain forward-looking statements within
the meaning of the �Safe Harbor� provisions of the Private
Securities Litigation Reform Act of 1995 regarding, among other
things, our ability to secure contracts with additional commercial
payors and the positive impact of our clinical study on that
process. Such forward-looking statements are based on current
expectations and involve inherent risks and uncertainties,
including important factors that could delay, divert, or change any
of them, and could cause actual outcomes and results to differ
materially from current expectations. These factors include, among
other things, the success of our sales and marketing initiatives,
market factors, internal research and development initiatives,
partnered research and development initiatives, competitive product
development and marketing, changes in governmental regulations and
legislation, the continued consolidation of payors, acceptance of
our new products and services, patent protection and litigation.
For further details and a discussion of these and other risks and
uncertainties, please see our public filings with the Securities
and Exchange Commission, including our Annual Reports on Form 10-K
and Quarterly Reports on Form 10-Q. We undertake no obligation to
publicly update any forward-looking statement, whether as a result
of new information, future events, or otherwise.
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