MINNEAPOLIS, July 18, 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 effective July 11, 2012, EmblemHealth, one of the largest private insurance payers in the northeast U.S., began to cover percutaneous tibial nerve stimulation (PTNS) using its Urgent PC Neuromodulation System for the treatment of overactive bladder (OAB) and associated symptoms. EmblemHealth covers approximately 2 million lives primarily in New York and New Jersey and includes Group Health Incorporated and the Health Plan of New York.
"This expanded private payer coverage increases access for OAB patients to PTNS treatments and the opportunity to receive this innovative, minimally-invasive and clinically-effective therapy. The additional coverage provides physicians in the northeast with another treatment option for their OAB patients," said David Kaysen, President and CEO of Uroplasty, Inc. "We will continue to work with other private payers across the country to include Urgent PC in their coverage policies."
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 we will ever achieve sustained profitability, 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 existing carriers and payers will not change their coverage decisions, that the rate of adoption of our products by new customers will continue, 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.