Tissue Regenix Group plc
Further Medicare Coverage Approval for DermaPure®
Delivering on the strategy: DermaPure® now available to 20.7 million Medicare beneficiaries
YORK, 26 June 2015 - Tissue Regenix Group plc (AIM:TRX) ("Tissue Regenix" or "the Group"), the regenerative medical devices company, today announces it has secured approval from the Noridian Healthcare Solutions and Palmetto GBA Medicare administrators for DermaPure® reimbursement.
The approval from Noridian Healthcare Solutions and Palmetto GBA means that DermaPure® is now available to 20.7 million Medicare beneficiaries across 30 states and follows previously announced approvals from the Novitas Solutions and CGS Administrators jurisdictions in 2015.
Gaining Medicare approval for DermaPure® across the United States is a key element of Tissue Regenix's strategy for full commercialisation of the product and allows the company to access the largest potential group of US patients who would be unable to benefit from Tissue Regenix products without it.
The Medicare programme in the United States is a national social insurance programme which provides health insurance for citizens aged 65 and over. It is administered by bodies such as Noridian Healthcare Solutions and Palmetto GBA, each one with their own jurisdiction of states. When coverage is approved it enables medical establishments to purchase and seek reimbursement for products used to treat post-acute and outpatients who are beneficiaries of the Medicare initiative.
Antony Odell, CEO of Tissue Regenix commented:
"We are thrilled with DermaPure's® performance in 2015. In the space of just four months the product has gained approval for coverage in over half of the American states via what is a highly rigorous and intensive selection process.
This is further evidence of both the continued strong clinical performance of DermaPure® and Tissue Regenix delivering on its clearly defined strategy for full commercialisation of the product in the US.
While it is hard to predict the time frame for further approvals, we are confident that the successful clinical outcomes of DermaPure® across an ever widening pool of patients stands us in good stead for gaining additional coverage."
Notes:
Noridian Healthcare Solutions administers the Medicare programme in the states of Alaska, Arizona, California, Hawaii, Montana, Nevada, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming.
Palmetto GBA covers North Carolina, South Carolina, Virginia and West Virginia
Previously announced DermaPure® coverage approvals:
Novitas Solutions: Arkansas, Colorado, Delaware, Louisiana, Maryland, Mississippi, New Jersey, New Mexico, Oklahoma, Pennsylvania, Texas and Washington DC
CGS: Kentucky and Ohio
ENDS
For Further Information
Tissue Regenix Group Plc: +44 19 0443 5176
Antony Odell
Ian Jefferson
Jefferies International Ltd: +44 20 7029 8000
Simon Hardy
Harry Nicholas
Tulchan Communications: +44 207 353 4200
Tom Buchanan
Victoria Huxster
Matt Low
About Tissue Regenix
Tissue Regenix is a leading medical devices company in the field of regenerative medicine. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human tissue leaving an acellular tissue scaffold which is not rejected by the patient's body which can then be used to repair diseased or worn out body parts. The potential applications of this process are diverse and address many critical clinical needs such as vascular disease, heart valve replacement and knee repair.
Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds. The company commercialises academic research conducted by our partners around the World.
In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States- 'Tissue Regenix Wound Care Inc.', as part of its commercialisation strategy for its dCELL® technology platform.
