Tissue Regenix Group plc
Further Medicare Coverage for DermaPure®
York, 9 March 2016 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or "The Group") the regenerative medical devices company announces that Tissue Regenix Wound Care, Inc. has secured further Medicare coverage for DermaPure®.
DermaPure®, a decellurised human dermis, used for the treatment of chronic and acute wounds in both inpatient and outpatient settings will now be available for reimbursement under Wisconsin Physicians Service Insurance Corporation ('WPS'), a Medicare administrator whose jurisdictions cover Iowa, Kansas, Missouri, Nebraska, Indiana and Michigan, comprising a further 4.4m Medicare beneficiaries and bringing DermaPure® Medicare coverage to 74%.
Since being granted a Medicare 'Q' code for reimbursement, which came into effect on January 1st 2015, DermaPure® has now secured coverage from 9 of the 11 Medicare administrators.
Medicare, a federal insurance programme for the over 65s, subsidises costs for healthcare treatments through a reimbursement programme. However, in order to qualify for this subsidy, the treatment must initially be approved under the relevant Medicare jurisdiction often determined by geographic area.
DermaPure® sales surpassed the $1m mark, proving that the Group's hybrid commercialisation model, adopting both direct sales and distributors, is quickly gathering momentum.
Patti Gary, Vice President Clinical Affairs, Tissue Regenix Wound Care, Inc. commented: 'We are extremely pleased to announce this further Medicare coverage for DermaPure®. The clinical results that we have seen, to date, have been outstanding and we are delighted that it will now be accessible to additional Medicare beneficiaries. In the coming months we are committed to gaining coverage in the remaining Medicare jurisdictions and also expanding our availability throughout the private insurer groups. With an estimated 29m diabetes sufferers within the US, we remain committed to bringing DermaPure® to as many patients as possible."
For more Information:
Tissue Regenix Group plc Caitlin Pearson Corporate Communications Officer |
Tel: 01904 567 609 |
Jefferies International Ltd Simon Hardy / Harry Nicholas |
Tel: 020 7029 8000 |
Tulchan Communications
James Macey-White / Matt Low |
Tel: 020 7353 4200 |
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.
