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LONDON (Alliance News) - Tissue Regenix Group PLC said Friday it has gained further coverage approval for its wound care product DermaPure under the US national social insurance programme Medicare, securing approval from the Noridian Healthcare Solutions and Palmetto GBA Medicare administrators for reimbursement.
This means that DermaPure is now available to 20.7 million Medicare beneficiaries across 30 states, Tissue Regenix said. When coverage is approved under Medicare this allows medical establishments to buy and be reimbursed for the treatment for patients that are part of the Medicare programme.
"We are thrilled with DermaPure's performance in 2015. In the space of just four months the product has gained approval for coverage in over half of the American states via what is a highly rigorous and intensive selection process. This is further evidence of both the continued strong clinical performance of DermaPure and Tissue Regenix delivering on its clearly defined strategy for full commercialisation of the product in the US," said Chief Executive Officer Antony Odell in a statement.
"While it is hard to predict the time frame for further approvals, we are confident that the successful clinical outcomes of DermaPure across an ever widening pool of patients stands us in good stead for gaining additional coverage," Odell added.
Shares in Tissue Regenix are trading up 4.0% at 19.23 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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