CardioNet, Inc. Enters Into Agreement with UnitedHealthcare Insurance Company
June 10 2013 - 4:10PM
Business Wire
CardioNet, Inc. (NASDAQ:BEAT) (“CardioNet”), the leading
wireless medical technology company focused on diagnosing and
monitoring cardiac arrhythmias, announced today that the Company
has entered into a three-year National Provider Agreement with
UnitedHealthcare Insurance Company, covering all of CardioNet’s
monitoring modalities, including Mobile Cardiac Outpatient
Telemetry (MCOTTM). The Agreement is effective July 1, 2013 and
applies to all UnitedHealthcare affiliated entities, including
managed Medicare and managed Medicaid plans. UnitedHealthcare
provides coverage to more than 70 million members in the United
States.
UnitedHealthcare’s decision to expand coverage to include
CardioNet’s MCOTTM was the result of an extensive review of
clinical evidence, including the Company’s recently published
studies. Their research found MCOTTM to be proven for multiple
indications, concluding: “Results of studies suggest that mobile
outpatient telemetry provides more effective detection of
infrequent cardiac arrhythmias than external, loop monitors.”
Joseph Capper, President and CEO of CardioNet, commented:
“CardioNet is pleased to partner with an industry leader like
UnitedHealthcare. Earlier this year, we announced a more
comprehensive strategy to promote our entire suite of cardiac
monitoring solutions. By providing access to United’s more than 70
million members, this agreement dramatically expands the available
market for all of our life-saving technologies. We look forward to
a lasting relationship with UnitedHealthcare and to servicing their
vast membership.”
About CardioNet
CardioNet is the 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 Mobile Cardiac Outpatient TelemetryTM
(MCOTTM). More information can be found at
http://www.cardionet.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document 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 expectations regarding the effect the United contract
will have on the company’s operating results. These statements may
be identified by words such as “expect,” “anticipate,” “estimate,”
“intend,” “plan,” “believe,” “promises” and other words and terms
of similar meaning. 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 these expectations, and could cause actual outcomes and results
to differ materially from current expectations. These factors
include, among other things, effects of changes in health care
legislation, effectiveness of our cost savings initiatives,
relationships with our government and commercial payors, changes to
insurance coverage and reimbursement levels for our products, the
success of our sales and marketing initiatives, our ability to
attract and retain talented executive management and sales
personnel, our ability to identify acquisition candidates, acquire
them on attractive terms and integrate their operations into our
business, the commercialization of new products, market factors,
internal research and development initiatives, partnered research
and development initiatives, competitive product development,
changes in governmental regulations and legislation, the continued
consolidation of payors, acceptance of our new products and
services, patent protection, adverse regulatory action, litigation
success, our ability to successfully create a new holding company
structure and to anticipate the benefits of such structure. 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 latest periodic reports on
Form 10-K and 10-Q. We undertake no obligation to publicly update
any forward-looking statement, whether as a result of new
information, future events, or otherwise.
HeartBeam (NASDAQ:BEAT)
Historical Stock Chart
From Jun 2024 to Jul 2024
HeartBeam (NASDAQ:BEAT)
Historical Stock Chart
From Jul 2023 to Jul 2024