GAINESVILLE, Fla., June 23, 2010 (GLOBE NEWSWIRE) -- Quick-Med Technologies, Inc. (OTCBB:QMDT), a leader in developing innovative antimicrobial technologies for the healthcare and consumer markets, announced today that the Centers for Medicare and Medicaid Services (CMS) have awarded a Healthcare Common Procedure Coding System (HCPCS) code for BIOGUARD™ Conforming Bandage. HCPCS codes are required for Medicare reimbursement of wound dressings and other supplies.
The BIOGUARD Conforming Bandage is the first Conforming Bandage with activity against microbes such as MRSA, and the only marketed bandage designed to prevent infections and cross-contamination. BIOGUARD bandages wound dressings incorporate Quick-Med's patented NIMBUS® technology, the only non-leaching antimicrobial available in a wound dressing. Although traditional gauze dressings are incubators of bacteria and risk of cross-contamination is highest during dressing changes, NIMBUS virtually eradicates pathogens within the BIOGUARD Dressings.
Quick-Med Technologies' CEO J. Ladd Greeno stated, "Medicare and Medicaid patients represent the largest group of chronic wound patients. This HCPCS code is significant in allowing practitioners of these patients to receive reimbursement for the BIOGUARD Conforming Bandages. On a broader scale, most private health insurance companies follow the lead of Medicare with these types of products."
Code A6266 has been assigned to BIOGUARD Conforming Bandage as well as other BIOGUARD antimicrobial large roll gauze dressings. HCPCS codes are used by Medicare, monitored by CMS, and based on Current Procedural Technology (CPT) codes developed by the American Medical Association. The Company estimates that the areas within healthcare that rely on HCPCS codes represent approximately one-half of the total market potential for BIOGUARD. Currently, the market for antimicrobial dressings is estimated to be greater than $200 million in the United States and is one of the fastest growing segments within the $4.1 Billion US market for advanced wound care products.
About BIOGUARD™ Barrier Dressings
BIOGUARD Barrier Dressings provide a barrier to bacterial contamination while also providing > 5-log (99.999%) average reductions of common pathogens within the dressings. What makes BIOGUARD dressings unique is the patented, non-leaching NIMBUS antimicrobial technology. BIOGUARD dressings continue to exhibit their high level of activity even in the presence of wound fluid and blood. Leaching antimicrobials can exit the base substrate dressing and potentially lead to interference in wound healing as well as to the creation of resistant strains of pathogens.
About Quick-Med Technologies, Inc.
Quick-Med Technologies, Inc. is a life sciences company that is developing innovative technologies for the healthcare and consumer markets. Quick-Med is developing NIMBUS applications in several other advanced wound dressing formats including adhesives, foams, hydrogels, films, and hydrocolloids. For more information, see: www.quickmedtech.com.
© 2010 Quick-Med Technologies, Inc. All rights reserved. NIMBUS® is a registered trademark of Quick-Med Technologies, Inc. BIOGUARD™ is a trademark of Derma Sciences, Inc.
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "expect", "plan", "believe", "anticipate", "intend", "could", "would", "estimate", and/or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements involve risks and uncertainties, including those risks that are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"), which may be accessed at the SEC's Edgar System at www.sec.gov.