Two Additional Private Payers Provide Coverage for Posterior Tibial Nerve Stimulation Delivered Using the Uroplasty UrgentÃ‚® PC Neuromodulation System
MINNEAPOLIS, July 18, 2011 /PRNewswire/ -- Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today announced that two additional private insurance payers will cover posterior tibial nerve stimulation (PTNS) using its Urgent PC Neuromodulation System for the treatment of overactive bladder (OAB) and associated symptoms. Effective August 1, 2011, Health Care Service Corporation (HCSC), covering approximately 13 million lives in Texas, Illinois, New Mexico and Oklahoma, will begin covering and paying for PTNS therapy. HCSC is the second largest Blue Cross Blue Shield affiliate and the fourth largest private payer in the U.S. Additionally, effective May 18, 2011, BlueCross BlueShield of Nebraska, covering approximately 668,000 lives, initiated coverage of PTNS treatments.
"This expanded private payer coverage of PTNS is based on a solid foundation of published clinical data as well as compelling presentations at professional meetings delivered by key opinion leaders in urology and urogynecology who have hands on experience with Urgent PC. The additional coverage is another step forward for our Company as we seek to further expand the adoption of PTNS treatments," said David Kaysen, President and CEO of Uroplasty, Inc. "We have now secured coverage from three of the four largest private payers in the U.S. We estimate that in total the Medicare and private-pay carriers that today provide coverage for PTNS treatments represent approximately 115 million lives. We remain focused on our efforts to garner additional coverage and drive adoption of Urgent PC, and we are optimistic about the potential for our success."
About Uroplasty, Inc.Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Ne