Underscores continued medical need for and clinical utility of SANUWAVE Health's energy transfer therapeutics in advanced wound care
SUWANEE, GA, Dec. 23, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- SANUWAVE Health, Inc. (OTCQB: SNWV), focused on the development and commercialization of a robust and innovative advanced wound care product portfolio for the repair and regeneration of skin and vascular structures, today announced that the Company’s UltraMist® and dermaPACE® energy transfer therapies will receive increases in the reimbursement payment schedule from the Centers for Medicare and Medicaid (CMS) beginning in 2021. UltraMist will receive a 20% payment increase for procedures in the physician’s office setting and dermaPACE will receive an 8% payment increase for APC Level 2 Skin Procedures in the hospital outpatient setting.
“These increases to CMS reimbursement for our energy transfer products further validate the great unmet medical need for our effective advanced wound care procedures and underscore their clinical utility on healing these recalcitrant wounds,” stated Kevin A. Richardson II, Chairman and Chief Executive Officer of SANUWAVE Health. “Chronic, advanced wounds are a growing clinical and economic burden on our healthcare system. Products such as our UltraMist and dermaPACE System have proven clinically and economically effective at resolving advanced wounds and providing benefits to patients, physicians and payors alike.”
“Our bullish outlook for 2021 is further enhanced by these reimbursement increases as a large portion of our patient population are Medicare recipients and most private insurers follow CMS’ lead in payment schedules. We look forward to building on the traction we gained throughout 2020 and continue to expect our 2021 product revenue to grow three-fold, underscoring the growing need for effective advanced wound care treatments such as dermaPACE and UltraMist,” added Mr. Richardson.
Separately, SANUWAVE Health reports that shareholders of record as of December 8, 2020 are asked to participate in a Special Election for which there are a number of procedural items on the ballot. A favorable vote on these proposals are key requirements for SANUWAVE Health to list on the Nasdaq exchange. The Company encourages all shareholders of record to cast their votes by December 30, 2020. For questions regarding the Special Election vote, please contact cgarske@okapipartners.com or thuang@okapipartners.com.
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (OTCQB:SNWV) (www.SANUWAVE.com) is focused on the research, development, and commercialization of its patented noninvasive and biological response activating medical systems 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 and two human tissue biologic products, which creates 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 tissue regeneration biological signaling and angiogenic responses, producing new vascularization and microcirculatory improvement combined with tissue growth which helps restore the body’s normal healing processes. SANUWAVE applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, plastic/cosmetic and cardiac/endovascular conditions.
For additional information about the Company, visit www. www sanuwave.com.
Forward-Looking Statements
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.
Contact:
SANUWAVE Health, Inc.
Kevin Richardson II
Chairman and Chief Executive Officer
978-922-2447
investorrelations@sanuwave.com
Anne Marie Fields
Managing Director
Rx Communications Group
afields@rxir.com