VASO: Vasomedical Announces Reimbursement for EECP Therapy in the United Kingdom
Business Editors/Health/Medical Writers
WESTBURY, N.Y.--(BUSINESS WIRE)--Dec. 3, 2003--
Ninety Percent of Private Medical Insurance Providers Extend
Benefits to Include EECP(R) Therapy
Vasomedical, Inc. (NASDAQSmallCap: VASO), announced today that
five major third-party payers in the United Kingdom have expanded
their reimbursement structures to include EECP external
counterpulsation therapy.
BUPA, Norwich Union, Medisure, Access AXA PPP and Standard Life
have authorized reimbursement for patients receiving EECP treatment to
manage angina pectoris. Standard Life has extended its policy to
include congestive heart failure patients.
"Reimbursement for EECP therapy in the United Kingdom's privately
insured patient sector is a major step forward for Vasomedical. These
five companies comprise virtually all privately insured patients in
the United Kingdom. We believe this should help in our efforts to
obtain reimbursement from the National Health Services (NHS) in the
future," stated Gregory D. Cash, President and Chief Executive Officer
of Vasomedical. The NHS is the public health program which provides
services for approximately 90 percent of the population in the United
Kingdom.
Vasomedical continues to seek the expansion of reimbursement
coverage for EECP therapy to the public sector covered by the NHS in
conjunction with Vasogenics, LTD, its representative in the United
Kingdom. This initiative represents a component of a global
reimbursement strategy to make EECP therapy financially available to
more patients in the United Kingdom, other countries in Europe and the
international marketplace.
About EECP - Enhanced External Counterpulsation
Vasomedical's advanced, state-of-the-art EECP external
counterpulsation system is comprised of an air compressor, a computer
console, a set of cuffs and a treatment table. To receive treatment,
patients lie down on the table and have their calves and lower and
upper thighs wrapped in the cuffs. The system, which is synchronized
to the individual patient's cardiac cycle, inflates the cuffs with air
to create external pressure when the heart is resting (diastole) and
deflates the cuffs just before the heart beats (systole). The system's
action, which pulses counter to the heart's beating, increases blood
flow to the heart muscle, decreases the heart's workload and creates a
greater oxygen supply for the heart muscle while lowering the heart's
need for oxygen.
Treatment is typically given in 35 one-hour-sessions over seven
weeks; the benefits have been shown to persist for years. Researchers
hypothesize that EECP may work by promoting the release of beneficial
growth factors, improving the neurohormonal milieu within blood
vessels, and by encouraging the proliferation of collateral blood
vessels. Vasomedical's EECP systems are the only counterpulsation
devices shown in clinical studies published in major peer-reviewed
journals to provide improvements in exercise capacity, peak oxygen
consumption and quality of life.
About Vasomedical
Vasomedical, Inc. Is primarily engaged in designing,
manufacturing, marketing and supporting EECP external counterpulsation
systems based on the Company's proprietary technology. EECP is a
noninvasive, outpatient therapy for the treatment of diseases of the
cardiovascular system, currently indicated for use in cases of angina,
cardiogenic shock, acute myocardial infarction and, most recently,
congestive heart failure. The therapy serves to increase circulation
in areas of the heart with less than adequate blood supply and may
restore systemic vascular function. The Company provides hospitals,
clinics and private practices with EECP equipment, treatment guidance
and a staff training and maintenance program designed to provide
optimal patient outcomes. EECP is a registered trademark for
Vasomedical's enhanced external counterpulsation system. Additional
information is available on the Company's website at
www.vasomedical.com.
Except for historical information contained in this release, the
matters discussed are forward-looking statements that involve risks
and uncertainties. When used herein, words such as "anticipated",
"believes", "estimates", "expects", "feels" and "intends" and similar
expressions, as they relate to the Company or its management, identify
forward-looking statements. Such forward-looking statements are based
on the beliefs of the Company's management, as well as assumptions
made by and information currently available to the Company's
management. Among the factors that could cause actual results to
differ materially are the following: the effect of the dramatic
changes taking place in the healthcare environment; the impact of
competitive procedures and products and their pricing; medical
insurance reimbursement policies; unexpected manufacturing problems;
unforeseen difficulties and delays in the conduct of clinical trials
and other product development programs; the actions of regulatory
authorities and third-party payers in the United States and overseas;
uncertainties about the acceptance of a novel therapeutic modality by
the medical community; and the risk factors reported from time to time
in the Company's filings with the U.S. Securities and Exchange
Commission. The Company undertakes no obligation to update
forward-looking statements as a result of future events or
developments.
--30--MB/ny*
CONTACT: Vasomedical, Inc.
Lucia Persichilli, 516-997-4600 Ext. 182
investorrelations@vasomedical.com
or
INVESTOR RELATIONS:
Lippert/Heilshorn & Associates, Inc.
Kim Sutton Golodetz, 212-838-3777
kgolodetz@lhai.com
or
Bruce Voss, 310-691-7100
bvoss@lhai.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: MEDICAL DEVICES MEDICAL PRODUCT
SOURCE: Vasomedical, Inc.
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Dec-03-2003 12:30 GMT
Symbols:
US;VASO
Source BW Business Wire
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