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Uroplasty Reports Financial Results for the Fiscal Fourth Quarter and Full Year 2011
Date:5/25/2011

inue to grow."

"We recently announced that effective May 22, NHIC, the regional Medicare carrier for Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, will begin to cover PTNS treatments, and, effective May 1, CIGNA Government Services, which also has a positive coverage policy for PTNS treatments, will become the new Medicare carrier for Kentucky," Mr. Kaysen continued.  "With these additions, 10 of the 13 regional Medicare carriers representing approximately 31 million Medicare lives in 35 states provide coverage for PTNS treatments.  United Healthcare, a nationwide private insurer, and Excellus BlueCross BlueShield, a regional insurer in upstate New York, also recently initiated coverage of PTNS treatments.  We estimate that private payers providing insurance to 70 million lives have elected to provide coverage for PTNS treatments."  

"In addition to demonstrating the benefits of Urgent PC to new physicians, our sales and marketing team is focused on increasing penetration at existing accounts," Mr. Kaysen said.  "At the end of March, we had 31 employed sales representatives, supported in the field by four reimbursement managers.  We expect to expand geographic coverage during fiscal 2012 and have already added four additional representatives since March 31.  In addition to our success with Urgent PC, sales of Macroplastique in the U.S. were also very strong in the quarter.  We anticipate that this strength will continue in the short term because of expected discontinuation of a competing product."

"Fiscal 2011 was a very productive year for the Company.  Supported by sound clinical studies, a well-trained and motivated sales and support staff, and sufficient capital, we are well-positioned to pursue our growth opportunities in the U.S.  We are also moving forward with our plan to explore the regulatory path in the U.S. for Urgent PC to treat fecal incontinence," Mr. Kaysen conclu
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SOURCE Uroplasty, Inc.
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Related medicine technology :

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2. Clinical Studies Results of Uroplasty Products Scheduled for Presentation at Three Professional Meetings
3. Uroplasty Announces Expanded Insurance Coverage of Posterior Tibial Nerve Stimulation (PTNS) Delivered Using the Urgent® PC Neuromodulation System
4. Uroplasty to Present at ROTH Capital Partners 23rd Annual OC Growth Stock Conference
5. Uroplasty Reports Financial Results for the Third Quarter FY2011
6. Uroplasty to Issue Third Quarter 2011 Results on January 27, 2011
7. Uroplasty Announces Addition of Robert Kill to its Board of Directors
8. Additional Regional Medicare Carrier Initiates Coverage for Posterior Tibial Nerve Stimulation (PTNS) Delivered via Uroplastys Urgent® PC Neuromodulation System
9. Uroplasty Inc. Announces CPT® Category I Code and Associated Reimbursement Value for Posterior Tibial Nerve Stimulation
10. Uroplasty Reports Financial Results for the Second Quarter FY2011
11. Uroplasty to Issue Second Quarter 2011 Results on October 27, 2010
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