MARIETTA, Ga., May 4, 2017 /PRNewswire/ -- MiMedx Group, Inc. (NASDAQ: MDXG), the leading biopharmaceutical company developing and marketing regenerative biologics utilizing human placental tissue allografts and patent-protected processes for multiple sectors of healthcare, announced today that the Company's EpiFix® product has received coverage from insurer Kaiser Permanente, effective April 1, 2017.
Founded in 1945 and headquartered in Oakland, California, Kaiser Permanente is one of the nation's largest not-for-profit health plans. With this coverage decision, the Kaiser 7.4 million commercial members now have coverage for EpiFix. Kaiser's medical policy, "Wound Care Treatments," now includes EpiFix for up to eight applications in 12 weeks when there is evidence of wound healing. Kaiser considers EpiFix medically necessary for treatment of diabetic foot ulcers (DFUs) and venous leg ulcers (VLUs). EpiFix is the first and only placental-based product covered by Kaiser for the treatment of DFUs and VLUs.
Parker H. "Pete" Petit, Chairman and CEO said, "We are pleased to have received coverage from Kaiser and to add them to our list of insurers providing access to our dehydrated Human Amnion/Chorion Membrane (dHACM) allografts for their covered members. Kaiser joins the broad list of insurers providing coverage, which list already includes major national health plans such as Aetna, Cigna, Anthem and virtually all of the other Blue Cross/Blue Shield health plans, plus a vast number of regional insurers. With the addition of Kaiser, over 317 million commercial covered lives and Medicare/Medicaid beneficiaries now have reimbursement access to EpiFix."
Bill Taylor, President and COO, commented, "Our evidence-based publications demonstrating the clinical efficacy and cost effectiveness of our allografts have been instrumental in gaining coverage for our allografts from both the commercial payers such as Kaiser, as well as the federal and state payers. Our Compendium, now totaling 46 peer-reviewed published studies including completed Randomized Control Trials (RCTs), scientific studies and significant case studies, is unmatched in our industry, and it is the catalyst for our success in gaining awards of coverage. We are very gratified that so many commercial health plan members and federal and state beneficiaries have access to the positive clinical outcomes that our allografts produce."
MiMedx® is a biopharmaceutical company developing and marketing regenerative biologics utilizing human placental tissue allografts and patent-protected processes for multiple sectors of healthcare. "Innovations in Regenerative Medicine" is the framework behind our mission to give physicians products and tissues to help the body heal itself. We process the human placental tissue utilizing our proprietary PURION® Process among other processes, to produce safe and effective allografts. MiMedx proprietary processing methodology employs aseptic processing techniques in addition to terminal sterilization. MiMedx is the leading supplier of placental tissue, having supplied over 800,000 allografts to date for application in the Wound Care, Burn, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic and Dental sectors of healthcare. For additional information, please visit www.mimedx.com.
Safe Harbor Statement
This press release includes statements that look forward in time or that express management's beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the Company's belief that evidence-based publications demonstrating the clinical efficacy and cost effectiveness of its allografts have been instrumental in gaining coverage for the allografts from both commercial payers and federal and state payers. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that future evidence-based publications may not be as impactful in gaining reimbursement coverage, reimbursement is always subject to change and may therefore impact cost effectiveness of care, access to coverage may not translate into broader use of the Company's products, individual results from using the Company's products may vary, and the risk factors detailed from time to time in the Company's periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2016 and its most recent 10-Q filing. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.
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SOURCE MiMedx Group, Inc.