Aviva is a Top 4 Provider of Private Medical Insurance in the UK
By Joining AXA, Approximately 45% of Patients With Private Insurance Now Have Access to Nociscan in the Greater London Spine Care Market
BROOMFIELD, CO, July 09, 2024 (GLOBE NEWSWIRE) -- Aclarion, Inc., (“Aclarion” or the “Company”) (Nasdaq: ACON, ACONW), a healthcare technology company that is leveraging biomarkers and proprietary augmented intelligence algorithms to help physicians identify the location of chronic low back pain, announced today an additional key milestone with their second payer coverage of Nociscan by Aviva in London, UK in conjunction with The London Clinic, one of the UK’s largest and most renowned independent hospitals. Aviva is a leading provider of private medical insurance in the UK and joins private medical insurance provider, AXA, in covering Nociscan for patients suffering from chronic low back pain.
“This second payer coverage decision builds the momentum we expect to see in markets once one payer recognizes the advantages of paying for Nociscan,” said Brent Ness, CEO of Aclarion. “When you look at other diagnostic companies that market imaging combined with AI decision support solutions, you tend to see steady product adoption and value creation once payer coverage decisions are secured. HeartFlow in the cardiology space is a perfect example. Similar to Aclarion, they received their first payer coverage decision in the UK and were able to parlay that into a steady march towards standard of care and tremendous value creation for investors. I was a member of the early commercial development team at HeartFlow and intend to apply the same successful formula to Aclarion where we are addressing the larger market of low back pain. We welcome the second vote of confidence and key validation from UK payers and look forward to more.”
In the UK, self-pay and private medical insurance are estimated to represent nearly 70% of private hospital revenues, with private medical insurance becoming increasingly popular. Aviva is one of the four leading private medical insurers in the UK with an estimated 14% of the private medical insurance market and an estimated 1.2 million insured customers. By joining AXA, the 2nd largest private medical insurer with roughly a 30% market share and 3 million covered lives, Nociscan is now available to 45% of patients with private insurance in the greater London area.
The London Clinic and their expert spine physicians have adopted Nociscan as an important decision support tool to be used when diagnosing and treating their chronic low back pain patients. Low back pain has been estimated to affect up to one third of the UK adult population each year. Aclarion’s Nociscan solution is the first evidence-supported SaaS platform to noninvasively help physicians distinguish between painful and nonpainful discs in the lumbar spine. Nociscan objectively quantifies chemical biomarkers demonstrated to be associated with disc pain. Biomarker data is entered into proprietary algorithms to highlight if a disc may be a source of pain. When used with other diagnostic tools, Nociscan provides critical insights into the location of a patient’s low back pain.
For more information about The London Clinic, please visit: www.thelondonclinic.co.uk
For more information about the London Spine Clinic, please visit: www.londonspineclinic.com
About Aclarion, Inc.
Aclarion is a healthcare technology company that leverages Magnetic Resonance Spectroscopy (“MRS”), proprietary signal processing techniques, biomarkers, and augmented intelligence algorithms to optimize clinical treatments. The Company is first addressing the chronic low back pain market with Nociscan, the first, evidence-supported, SaaS platform to noninvasively help physicians distinguish between painful and nonpainful discs in the lumbar spine. Through a cloud connection, Nociscan receives magnetic resonance spectroscopy (MRS) data from an MRI machine for each lumbar disc being evaluated. In the cloud, proprietary signal processing techniques extract and quantify chemical biomarkers demonstrated to be associated with disc pain. Biomarker data is entered into proprietary algorithms to indicate if a disc may be a source of pain. When used with other diagnostic tools, Nociscan provides critical insights into the location of a patient’s low back pain, giving physicians clarity to optimize treatment strategies. For more information, please visit www.aclarion.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as well as other disclosures contained in the Prospectus and subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Disclosure
The information stated above was prepared by Aclarion and reflects solely the opinion of Aclarion. Nothing in this statement shall be construed to imply any support or endorsement of Aclarion or any of its products by The London Clinic.
Investor Contacts:
Kirin M. Smith
PCG Advisory, Inc.
646.823.8656
ksmith@pcgadvisory.com
Media Contacts:
Jodi Lamberti
SPRIG Consulting
612.812.7477
jodi@sprigconsulting.com
