CORRECTION - SANUWAVE Health Announces Reimbursement Coverage for BIOVANCE From Largest Medicare and Medicaid Administrator in U.S.
24.5 Million Covered Lives Now Eligible for Biologic Advanced Wound Care Treatment Through Centene Corporation
Suwanee, Ga - (NewMediaWire) - September 09, 2020 - SANUWAVE Health, Inc. (OTCQB: SNWV), whose focus is the development and commercialization of a robust and innovative advanced wound care product portfolio for the repair and regeneration of skin, musculoskeletal tissue and vascular structures, announced today that Centene Corporation, the largest Medicare and Medicaid Administrator in the U.S., has included BIOVANCE® in its list of reimbursed skin substitutes for advanced wound healing for the more than 24.5 million lives it covers. SANUWAVE, through its recent agreement with Cellularity, Inc., is the exclusive distributor for BIOVANCE in the U.S. wound care market.
BIOVANCE is decellularized, dehydrated human amniotic membrane (DDHAM) that is an intact, natural extracellular matrix (ECM) that acts as a scaffold for restoration of functional tissue. BIOVANCE contains key ECM proteins that allow for the migration of host cells to permeate the graft and promote tissue repair when applied to a wound. BIOVANCE brings the progenerative power of the amnion to tissue regeneration[i]1-6 and provides a foundation for the wound healing process.
“Inclusion in Centene’s list of reimbursable skin substitutes for advanced wound healing products is a key milestone for BIOVANCE as we continue to expand our Medicare and Medicaid access to benefit the millions of elderly patients suffering with recalcitrant wounds,” said Ryan K. Sheffer, Senior Director Reimbursement & Health Policy for SANUWAVE Health. “Moving forward, we expect to increase our coverage from national payors with a goal to gain access to the more than 250 million commercial and managed Medicare patients, which is expected to drive BIOVANCE revenue and grow SANUWAVE’s share in the multi-billion dollar advanced wound care market.”
Centene Corporation, a Fortune 100 company, is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams - to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (OTCQB:SNWV) (www.SANUWAVE.com) is focused on the development and commercialization of its patented noninvasive, biological response activating devices for the repair and regeneration of skin, musculoskeletal tissue and vascular structures. Through its recent acquisition of Celularity’s UltraMIST assets, SANUWAVE now combines two highly complementary and market-cleared energy transfer technologies with two human tissue biologic products to create a platform of scale with an end-to-end product offering in the advanced wound care market.
SANUWAVE’s portfolio of regenerative medicine products and product candidates activate biologic signaling and angiogenic responses, producing new vascularization and microcirculatory improvement, which helps restore the body’s normal healing processes and regeneration. SANUWAVE applies its patented energy transfer technologies in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions.
For additional information about the Company, visit www.sanuwave.com.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company’s product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
Kevin Richardson II
Chairman and Chief Executive Officer
Anne Marie Fields
Rx Communications Group
1. Fetterolf DE, Synder RJ. Scientific and clinical support for the use of dehydrated amniotic membrane in wound management. Wounds. 2012;24(10):299-307.
2. Bhatia M, Pereira M, Rana H, et al. Mechanism of cell interaction and response on decellularized human amniotic membrane: implications in wound healing. Wounds. 2007;19(8):207-217.
3. Faulk WP, Matthews R, Stevens PJ, et al. Human amnion as an adjunct in wound healing. Lancet. 1980;1(8179):1156-1158.
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6. Niknejad H, Peirovl H, Jorjani M, et al. Properties of the amniotic membrane for potential use in tissue engineering. Eur Cell Mater. 2008;15:88-99.