GERMANTOWN, Md.--(BUSINESS WIRE)--Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and commercialization of a long-term, implantable continuous glucose monitoring (CGM) system for people with diabetes, has announced the launch of the Eversense Bridge Program. Under the program, patients can access the Eversense CGM System, the only long-term CGM that lasts up to 90 days, for only $99* plus the cost of the sensor placement by the healthcare provider.
“The Eversense Bridge Program is an important strategic initiative with the goal of providing access to eligible patients who have high out-of-pocket costs, are waiting for a favorable coverage policy, or have been denied insurance coverage for Eversense,” said Tim Goodnow, President and CEO of Senseonics. “Insurance companies unfamiliar with the newest approved diabetes technology may deny coverage for a wide range of insured patients who have come forward demanding this technology. We developed this program to reduce barriers for patients who seek access to this technology right away. Every patient who qualifies for the program will now have improved access to this innovative diabetes management technology.”
The Eversense Bridge Program is a patient access program designed to assist patients with confirming their insurance benefits, obtaining pre-authorizations before the sensor placement and working with their healthcare provider’s office to help patients with the appeals of denied claims. From start to finish, the Eversense Bridge Program has been created to help the healthcare providers and patients have easier access to Eversense CGM.
The Eversense CGM System is a unique alternative for continuous monitoring of glucose. It consists of a fluorescence-based sensor, a smart transmitter worn over the sensor to facilitate data communication, and a mobile app for displaying glucose values, trends and alerts. Unlike traditional CGMs, Eversense is the first and only implantable CGM sensor in the United States and has the longest duration of up to 90 days. It features a smart transmitter that provides discreet, on-body vibratory alerts for high and low glucose and can be removed, recharged and re-adhered without discarding the sensor. The sensor is inserted subcutaneously in the upper arm by a health care provider via a brief in-office procedure.
"I commend Senseonics for addressing the critical issue of access barriers to new medical technology. Diabetes equipment and supplies are very expensive for patients, often even with insurance coverage,” said Amy Tenderich, DiabetesMine journalist/blogger and diabetes advocate. “I am currently on my second Eversense sensor. I chose to be reinserted based on the accuracy and convenience this system provides. I am happy that the Eversense Bridge Program will allow many more patients to access this useful new tool.”
Patients who are interested in getting started on Eversense through the Eversense Bridge Program can sign up at eversensediabetes.com/patient-bridge. Physicians, nurse practitioners or physician assistants interested in offering the Eversense CGM System for their patients can contact Senseonics at 844-SENSE4U (844-736-7348).
Additionally, as previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the Securities and Exchange Commission (SEC) on March 15, 2019, Senseonics’ audited consolidated financial statements contained an audit opinion from its independent registered public accounting firm that included an explanatory paragraph relating to Senseonics’ ability to continue as a going concern. This announcement is made pursuant to NYSE-American Company Guide Sections 401(h) and 610(b), which require public announcement of the receipt of an audit opinion containing a going concern qualification. This announcement does not represent any change or amendment to Senseonics’ consolidated financial statements or to its Annual Report on Form 10-K for the year ended December 31, 2018.
* For a limited time, patients who meet the program’s eligibility requirements may receive financial assistance towards acquiring the Eversense CGM System (after making an initial $99 payment). The Eversense Bridge Program does not apply to sensor placement procedure fees from patients’ healthcare providers, however, and patients must discuss coverage and payment for sensor placement separately with their physician (or other health care provider). The Eversense Bridge Program is not available for patients insured through federal healthcare programs or residents of certain states. To see full terms and conditions, please visit www.eversensediabtes.com/patient-bridge.
The Eversense® Continuous Glucose Monitoring (CGM) System is indicated for continually measuring glucose levels in persons age 18 and older with diabetes for up to 90 days. It is intended to complement, not replace, fingerstick blood glucose monitoring. The sensor insertion and removal is performed by a health care provider. The Eversense CGM System is a prescription device; patients should talk to their health care provider to learn more. For important safety information, see https://eversensediabetes.com/safety-info/.
Senseonics Holdings, Inc. is a medical technology company focused on the design, development and commercialization of transformational glucose monitoring products designed to help people with diabetes confidently live their lives with ease. Senseonics' CGM systems, Eversense® and Eversense® XL, include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects for Senseonics, including statements about the Eversense Bridge Program, and the benefits, advantages and convenience such program offers people with diabetes, and other statements containing the words “believe,” “expect,” “intend,” “may,” “projects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties inherent in the commercial launch and commercial expansion of the Eversense product, including without limitation patient adoption and insurance coverage, and such other factors as are set forth in the risk factors detailed in Senseonics’ Annual Report on Form 10-K for the year ended December 31, 2018 and Senseonics’ other filings with the SEC under the heading “Risk Factors.” In addition, the forward-looking statements included in this press release represent Senseonics’ views as of the date hereof. Senseonics anticipates that subsequent events and developments will cause Senseonics’ views to change. However, while Senseonics may elect to update these forward-looking statements at some point in the future, Senseonics specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing Senseonics’ views as of any date subsequent to the date hereof.