Helius Medical Technologies, Inc. (Nasdaq: HSDT) (TSX:HSM) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today announced that the Company has expanded its authorized clinic network to a total of 27 Authorized PoNS Treatment™ Clinic locations spanning across Canada
NEWTOWN, Pa., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq: HSDT) (TSX:HSM) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today announced that the Company has expanded its authorized clinic network to a total of 27 Authorized PoNS Treatment™ Clinic locations spanning across Canada. The expansion reflects the Company’s mission to provide access to PoNS Treatment for all individuals experiencing gait deficit due to mild and moderate symptoms of multiple sclerosis (MS) and balance deficit due to mild-to-moderate traumatic brain injury (mmTBI).
“The expansion to 27 locations across Canada reflects our strategy to target providers in Ontario that have an established commercial focus on neurorehabilitation, existing referral networks with other medical facilities for treating patients with neurological conditions and well-established payor relationships for insurance reimbursement,” said Dane Andreeff, Interim President and CEO of Helius. “By continuing the execution of our commercial strategy in Canada, we look forward to expanding access to PoNS Treatment and ensuring its successful adoption as the world recovers from the COVID-19 pandemic.”
The 27 authorized clinic locations are recognized neurorehabilitation practices, each with an existing commercial focus on treating patients with neurological conditions. Each clinic now offers PoNS Treatment™ as part of their services.
The newly authorized clinic locations now offering PoNS Treatment include:
- Brain and Body (Oakville, ON)
- Complex Injury Rehab (Pickering, ON)
- Dynamic Neurophysiotherapy (Barrie, ON, Mobile)
- iHealthcare (Victoria, BC)
- InStep (Edmonton, AB)
- InterAction (Toronto, ON)
- NeuPhysio (London, ON; 2 locations)
- NeuroCore Physiotherapy (Richmond Hill, ON)
- Pathways Therapy (Waterloo, ON)
- Physiologic (North York, ON)
- Sea to Sky Sports Physio (Squamish, BC)
- NeuroGym (Ottawa, ON)
Helius Medical Technologies aims to continuously authorize more qualified clinics to ensure widespread access to those seeking PoNS Treatment™. Due to the schedule of PoNS Treatment™ in the clinic during the first two weeks of treatment, new patient starts have been measured due to COVID-19 concerns. Since March of this year, Helius has authorized 13 established neurorehabilitation clinics. Says Mark Leno, Vice President and General Manager, Canada, “Over the last several months, we have continued to evaluate and develop relationships with qualified clinics. We have continued to train and certify PoNS™ Treatment Specialists and authorize more qualified PoNS Treatment™ clinics so that more locations will be able to offer PoNS™ as pandemic concerns lift.”
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a neurotech company focused on neurological wellness. The Company’s purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. The Company’s first commercial product is the Portable Neuromodulation Stimulator (PoNS™). For more information, visit www.heliusmedical.com.
About the PoNS™ Device and PoNS Treatment™
The Portable Neuromodulation Stimulator (PoNS™) is an authorized class II, non-implantable, medical device in Canada intended for use as a short term treatment (14 weeks) of gait deficit due to mild and moderate symptoms from multiple sclerosis (MS), and chronic balance deficit due to mild-to-moderate traumatic brain injury (mmTBI) and is to be used in conjunction with physical therapy. The PoNS™ is an investigational medical device in the United States, the European Union (“EU”), and Australia (“AUS”). The device is currently under review for de novo classification and clearance by the FDA. It is also under premarket review by the AUS Therapeutic Goods Administration. PoNS™ is currently not commercially available in the United States, the European Union or Australia.
Investor Relations Contact:
Westwicke Partners on behalf of Helius Medical Technologies, Inc.
Mike Piccinino, CFA
443-213-0500
investorrelations@heliusmedical.com
Cautionary Disclaimer Statement:
Certain statements in this news release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements are often identified by terms such as “believe,” “continue,” “look forward,” “will” and similar expressions. Such forward-looking statements include, among others, statements regarding the Company’s future growth and operational progress, including its commercial strategy in Canada, expectations for the adoption of the PoNS™ Treatment, the Company’s ability to authorize more qualified clinics, the Company’s future clinical and regulatory development plans for the PoNS™ device and the potential regulatory clearance of the PoNS™ device.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the impact of the COVID-19 pandemic, uncertainties associated with the regulation of commercially available medical devices in Canada, including Health Canada’s ongoing assessment of post-market data, the clinical development, regulatory submission and approval process in the United States, the European Union and Australia, as well as the Company’s capital requirements needed to achieve its business objectives and other risks detailed from time to time in the filings made by the Company with securities regulators, and including the risks and uncertainties about the Company’s business described in the “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 and its other filings with the United States Securities and Exchange Commission and the Canadian securities regulators, which can be obtained from either at www.sec.gov or www.sedar.com.
The reader is cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements except to the extent required by law.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
