TranS1 Inc. Announces Coverage Milestone
11 Februar 2013 - 1:30PM
TranS1 Inc. (Nasdaq:TSON), a medical device company focused on
designing, developing and marketing products to treat degenerative
conditions of the spine affecting the lumbar region, announced
today that the company estimates that the total number of
commercial and Federal Government lives covered for pre-sacral
interbody fusion now exceeds 50 million, a significant milestone
for pre-sacral interbody fusion coverage utilizing its proprietary
AxiaLIF® implant. In addition, Medicare represents another 50
million covered lives divided into 15 different jurisdictions that
typically cover Category I Codes that have assigned dollar values.
CPT Code 22586, utilized for pre-sacral interbody fusion, was
assigned a value by Medicare in November 2012.
"We are pleased to see the acceptance of the pre-sacral
interbody fusion procedure in the payor community within the first
six weeks of this year. This trend is a reflection of the strong
clinical evidence and the growing interest for the procedure within
the spine surgery community," stated Ken Reali, TranS1's President
and CEO. A list of payors currently covering the procedure is
available on TranS1's website.
About TranS1 Inc.
TranS1 is a medical device company focused on designing,
developing and marketing products to treat degenerative conditions
of the spine affecting the lumbar region. TranS1 currently markets
the AxiaLIF® family of products for single and multilevel lumbar
fusion, the VEOTM lateral access and interbody fusion system, and
the VectreTM posterior fixation system for lumbar fixation
supplemental to AxiaLIF fusion. TranS1 was founded in May 2000 and
is headquartered in Wilmington, North Carolina. For more
information, visit www.trans1.com.
Forward Looking Statements
This press release includes statements relating to our efforts
to gain favorable coverage decisions for our products that are
based on our current beliefs and assumptions. These statements
constitute "forward looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and are intended to qualify for
the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. Such statements are
subject to risks and uncertainties that are often difficult to
predict, are beyond our control, and which may cause results to
differ materially from expectations. Factors that could cause our
results to differ materially from those described include, but are
not limited to, the pace of adoption of our product technology by
spine surgeons, the outcome of coverage and reimbursement decisions
by the government and third party payors, the success of our
continuing product development efforts, the effect on our business
of existing and new regulatory requirements and other economic and
competitive factors. For a discussion of the most significant risks
and uncertainties associated with TranS1's business, please review
the Company's filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the year ended
December 31, 2011. You are cautioned not to place undue reliance on
these forward looking statements, which are based on TranS1's
expectations as of the date of this press release and speak only as
of the date of this press release. We undertake no obligation
to publicly update or revise any forward looking statement, whether
as a result of new information, future events or otherwise.
CONTACT: TranS1 Inc.
Investors:
Joe Slattery, Executive Vice President
and Chief Financial Officer
910-332-1700
Westwicke Partners
Mark Klausner
443-213-0501
trans1@westwicke.com
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