Monday January 4, 12:17 pm Eastern Time
Company Press Release
SOURCE: VidaMed, Inc.
Southern California Medicare Approves Reimbursement of VidaMed's TUNA(R) Procedure
FREMONT, Calif., Jan. 4 /PRNewswire/ -- VidaMed, Inc. (Nasdaq: VIDA - news), today announced that, effective immediately, Southern California Medicare will provide reimbursement for the Company's TUNA (Transurethral Needle Ablation) Procedure, a minimally invasive treatment of symptoms associated with enlarged prostate disease, or Benign Prostatic Hyperplasia (BPH). The reimbursement policy approval, Final Local Medical Review Policy #98.5-6E, covering TUNA, was published in the December 1998 Transamerica Occidental Life Insurance Company Medicare Newsletter.
The Southern California Medicare region encompasses the counties of Los Angeles, Orange, San Diego, Ventura, Imperial, San Luis Obispo and Santa Barbara. The comment period on reimbursement policy for the TUNA Procedure in Northern California ended on December 14, 1998, and the policy is now under review by the Northern California Medical Director.
''We are extremely pleased to have received this approval,'' said Randy Lindholm, VidaMed's Executive Vice President of Worldwide Sales and Marketing. ''Because California is known for its rigorous review process, this approval represents significant affirmation of the efficacy of the TUNA Procedure.''
''Southern California has almost 5% of the nation's eligible Medicare population and it is this age group that most often suffers from BPH. VidaMed expects renewed interest for the TUNA Procedure as a result of the news on reimbursement from Southern California and we have added additional sales representatives and new marketing programs to meet this expected demand,'' Lindholm said.
VidaMed designs, develops, manufactures and markets technologically and clinically advanced cost-effective systems for the treatment of urological conditions. Founded in 1992, VidaMed is headquartered in the Silicon Valley in Fremont, California.
Certain statements in this news release, including statements relating to the demand for the TUNA Procedure, contain forward-looking information. Actual results may vary significantly from those anticipated in such forward- looking statements due to risks and uncertainties, including the rate of adoption of the TUNA Procedure by the medical community, the impact of competitive treatments, products and pricing, the development and effectiveness of the Company's sales organization and marketing efforts, and other risks, including those set forth in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 1998. The Company's actual results may differ significantly from the results anticipated by the forward-looking statements as a result of these and other factors.
For additional patient information and VidaMed's physician referral service, please call 800-328-8781. For Investor Information on VidaMed, Inc. at no cost, please call 888-301-2498 or order it from VidaMed's website at vidamed.com. |
