MINNEAPOLIS, Jan. 27, 2011 /PRNewswire/ -- Uroplasty, Inc. (Nasdaq: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today reported financial results for the third fiscal quarter ended December 31, 2010.
Global sales grew 14% to $3.5 million, compared with $3.1 million in the same quarter a year ago. The growth was driven by strength in U.S. sales, up 33% from the third quarter a year ago. The increase in U.S. sales reflected a 64% increase in sales of the Macroplastique product line, where the Company has had a focused marketing effort. Sales of the Urgent PC Neuromodulation System in the U.S. for the recent third fiscal quarter totaled $1.0 million, an increase of 10% from the prior year's third quarter. The number of customers in the U.S. purchasing the Urgent PC Neuromodulation System during the quarter increased to 236 from 185 in the second quarter ended September 30, 2010.
The Company also announced that two additional Medicare carriers, Cahaba Government Benefit Administrators®, LLC and First Coast Service Options, Inc. (FCSO), have begun to pay for Percutaneous Tibial Nerve Stimulation (PTNS) treatments, using the Urgent PC Neuromodulation System. Cahaba administers Medicare health insurance for the states of Alabama, Georgia, Mississippi and Tennessee. FCSO is the Medicare carrier for Florida, Puerto Rico and the U.S. Virgin Islands.
With the addition of these two carriers, there are now nine regional Medicare carriers providing coverage for PTNS, using Urgent PC, for the treatment of symptoms of overactive bladder syndrome in 29 states and two territories. Coverage of PTNS using the Urgent PC Neuromodulation System, currently extends to approximately 28 million lives of the 46 million total lives covered under Medicare.
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|SOURCE Uroplasty, Inc.|
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