Itamar Medical Announces Additional 16 Million Covered Lives for WatchPAT™, the Only Single-Use Sleep Apnea Test that Meets Guidelines
CAESAREA, Israel, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Itamar Medical Ltd.. (NASDAQ and TASE: ITMR), a leading medical device and digital health company focused on the integration of sleep apnea management into the cardiac patient care pathway, today announced that Health Care Service Corporation (HCSC), the largest customer-owned health insurance company in the U.S., has issued a positive coverage decision that includes Home Sleep Apnea tests (HSATs) utilizing Peripheral Arterial Tonometry (PAT™) such as the company’s WatchPAT™ as medically necessary.
The updated policy decision from HCSC adds approximately 14.5 million beneficiaries of five Blue Cross Blue Shield (BCSC) plans of Illinois, Texas, Oklahoma, New Mexico and Montana. The added benefit becomes effective on March 25, 2021. In November 2020 BCBS of Louisiana, covering 1.5 million lives, also published updated medical policy including PAT based HSATs.
WatchPAT, based on the PAT™ technology, oximetry and actigraphy, is used for diagnosing Sleep Apnea in the home environment. Itamar Medical’s WatchPAT ONE is the only FDA-approved single-use HSAT that meets Practice Guidelines currently available on the market. This updated policy decision follows an assessment of Diagnosis and Medical Management of Obstructive Sleep Apnea Syndrome released by Blue Cross Blue Shield Association Evidence Street in July 2019.
“We commend HCSC for making this positive coverage decision that paves the way for PAT based HSATs to be considered when diagnosing adult patients who have symptoms suggestive of obstructive sleep apnea (OSA). Importantly, our WatchPAT ONE device, combined with the Company’s digital health platform, provides the opportunity for physicians to continue to diagnose HCSC beneficiaries during the COVID-19 pandemic, while at the same time, reducing their patient’s exposure to risk of infection,” said Gilad Glick, President and Chief Executive Officer of Itamar Medical. “As the only single-use test available on the market that meets Practice Guidelines, we are delighted that more physicians and their patients will have a safe and effective home-based diagnostic option.”
About Itamar Medical Ltd.
Itamar Medical is a medical technology company focused on the development and commercialization of non-invasive medical devices and solutions to aid in the diagnosis of respiratory sleep disorders. Itamar Medical commercializes a digital healthcare platform to facilitate the continuum of care for effective sleep apnea management with a focus on the core sleep, cardiology and direct to consumer markets. Itamar Medical offers a Total Sleep Solution to help physicians provide comprehensive sleep apnea management in a variety of clinical environments to optimize patient care and reduce healthcare system costs. The Company’s key product, WatchPAT, is commercially available within major markets including the US, Japan, and Europe. Itamar Medical is a public company traded on the Nasdaq and on the Tel Aviv Stock Exchanges, and is based in Caesarea, Israel with U.S. headquarters based in Atlanta, GA. For additional information visit www.itamar-medical.com
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. For example, when we discuss expanding the number of physicians and beneficiaries using the WatchPAT, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks, uncertainties and assumptions, including events and circumstances out of Itamar Medical's control and actual results, expressed or implied by such forward-looking statements, could differ materially from Itamar Medical's current expectations. Factors that could cause or contribute to such differences include, but are not limited to, risks, uncertainties and assumptions discussed from time to time by us in reports filed with, or furnished to, the U.S. Securities and Exchange Commission (“SEC”) and the Israel Securities Authority (“ISA”), including our latest Annual Report on Form 20-F which is on file with the SEC and the ISA. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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