MINNEAPOLIS, Sept. 26, 2012 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today announced that ConnectiCare of the Emblem Health family of insurers began coverage of percutaneous tibial nerve stimulation (PTNS) using its Urgent® PC neuromodulation system for the treatment of the symptoms of overactive bladder syndrome (OAB). Effective immediately, approximately 240,000 ConnectiCare members in Connecticut and western Massachusetts have access to the PTNS procedure.
"With the addition of ConnectiCare, we have expanded the opportunity for coverage of our safe, effective and minimally invasive treatment option to OAB patients in the northeast," said David Kaysen, president and CEO of Uroplasty. "We are pleased with the growing number of covered lives throughout the U.S. We estimate that in total the Medicare and private-pay carriers that today provide coverage for PTNS treatments represent approximately 135 million lives. We remain focused on our efforts to garner additional coverage and drive adoption of Urgent PC."
In addition, the Company announced that the California Technology Assessment Forum (CTAF) has concluded that PTNS meets all five of its technology criteria for the treatment of OAB for short term benefit. CTAF is one of the preeminent independent medical technology assessment organizations in the country and its reviews are utilized by many payers and providers to evaluate new medical technology. www.ctaf.org
"PTNS, delivered via the Urgent PC system, is the least invasive form of neuromodulation for the treatment of OAB. We are very pleased with the CTAF recommendation that supports the use of PTNS for men and women suffering from refractory OAB," Mr. Kaysen commented.
CTAF is dedicated to objectivity and transparency in its evidence-based assessment of the safety, effectiveness and improvement in health outcomes of new and emerging technologies. "While we are sure there were many factors considered, we are confident the strong PTNS clinical data led CTAF to their final recommendation," concluded Mr. Kaysen.
About Uroplasty, Inc.
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom is a global medical company committed to offering transformative treatment options to specialty physicians. Our products are designed to help providers change the lives of their voiding dysfunction patients and strengthen the efficiency of their practices. Our focus is the continued commercialization of our Urgent® PC Neuromodulation System, the only FDA-cleared system that delivers percutaneous 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®, 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.
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:
David Kaysen, President and CEO, or
Medi Jiwani, Vice President, CFO, Treasurer
Doug Sherk/Jenifer Kirtland (Investors), 415.568.9349
Chris Gale (Media), 646.201.5431
SOURCE Uroplasty, Inc.