PHMD 3.60 moving on news:
(PR NEWSWIRE) WellPoint Adopts Reimbursement for PhotoMedex XTRAC(R)
WellPoint Adopts Reimbursement for PhotoMedex XTRAC(R)
MONTGOMERYVILLE, Pa. and CARLSBAD, Calif., April 20 /PRNewswire-FirstCall/
-- PhotoMedex (Nasdaq: PHMD) today announced that WellPoint, the nation's
second largest health plan, covering more than 15 million medical members and
46 million specialty members, has adopted a medical policy approving payment
for medically necessary treatment of mild to moderate psoriasis using the
PhotoMedex XTRAC(R) laser system.
Jeff O'Donnell, PhotoMedex' CEO said, "This is a major event for
PhotoMedex. The favorable decision by one of the largest healthcare plans
supports our view that our XTRAC(R) therapy cost-effectively provides superior
clinical outcomes. We believe this will have a catalytic impact on other
insurers and will trigger deployment of XTRAC laser systems and marketing
programs in the geographies covered by WellPoint."
WellPoint serves its members through Blue Cross of California, Blue Cross
and Blue Shield of Georgia (the largest healthcare insurance entity in
Georgia), Blue Cross and Blue Shield of Missouri, Blue Cross Blue Shield of
Wisconsin, and throughout various parts of the country as UNICARE, HealthLink,
and MethodistCare, Inc. (one of the largest HMOs in Houston). WellPoint is
included in the S&P 500(R) Index. The medical policy covering XTRAC(R) can be
found at medpolicy.bluecrossca.com, or any of the
other WellPoint company websites.
About PhotoMedex:
PhotoMedex provides contract medical procedures to hospitals,
surgi-centers and doctors' offices, offering a wide range of products and
services across multiple specialty areas, including dermatology, urology,
gynecology, orthopedics, and other surgical specialties. The company is a
leader in the development, manufacturing and marketing of medical laser
products and services.
Some portions of this release, particularly those describing PhotoMedex'
strategies, operating expense reductions and business plans, will contain
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1993, as amended and Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. While PhotoMedex is
working to achieve those goals, actual results could differ materially from
those projected in the forward-looking statements as a result of a number of
factors, including difficulties in marketing its products and services, need
for capital, competition from other companies and other factors, any of which
could have an adverse effect on the business plans of PhotoMedex, its
reputation in the industry or its results. In light of significant
uncertainties inherent in forward-looking statements included herein, the
inclusion of such information in the release should not be regarded as a
representation by PhotoMedex or its subsidiaries that the forward looking
statements will be achieved.
SOURCE PhotoMedex Inc.
-0- 04/20/2004
/CONTACT: Investors, Matt Clawson of Allen & Caron, +1-949-474-4300,
matt@allencaron.com, for PhotoMedex, Inc.; or Dennis McGrath, CFO of
PhotoMedex, Inc., +1-215-619-3287, info@photomedex.com/
(PHMD)
CO: PhotoMedex Inc.; WellPoint
ST: California, Pennsylvania
IN: HEA MTC BIO
SU: PDT
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