GERMANTOWN, Md.--(BUSINESS WIRE)--Senseonics Holdings, Inc. (NYSE American: SENS) a medical technology company focused on the development and commercialization of the first and only long-term, implantable continuous glucose monitoring (CGM) system for people with diabetes, announced that Cigna is now providing coverage for the Eversense® CGM System, effective February 15, 2020. This recent coverage decision adds to the growing number of payers who are writing Eversense into their CGM coverage policies, as well as paying for the healthcare provider’s time for the in-office sensor placement.
Cigna Corporation is a global health service company dedicated to improving the health, well-being, and peace of mind of those who they serve. Cigna has more than 17 million medical customers and offers a Medicare Advantage plan in 17 states and Washington DC. This most recent coverage decision – in addition to Aetna, Humana, HCSC Blue Cross Blue Shield and other health insurance providers – adds to the growing list of payers enabling their members to benefit clinically from the long-term Eversense CGM System.
“Cigna prides itself on providing choice and access to quality care through connected, personalized solutions that allow their members to harness actionable insights to drive better healthcare results. Now Cigna members will have the choice to use the only long-term implantable CGM system available to help them better manage their diabetes,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “Eversense provides actionable glucose data for users – not only where they are right now, but the direction they are headed. With superior accuracy, longest sensor life, on-body vibratory alerts and remote monitoring capability, users can proactively manage their glucose levels by treating their diabetes before they get to dangerously high or low levels. This information in the hands of the users allows them to manage their diabetes and experience healthier outcomes through personalized information and technology.”
The Eversense CGM System 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. In addition to featuring the first long-term and first implantable CGM sensor, the system is also first to feature a smart transmitter that provides wearers with discreet on-body vibratory alerts for high and low glucose and can be removed, recharged and re-attached to the skin without discarding the sensor. Eversense users now have the freedom to make treatment decisions based on their Eversense readings. The sensor is inserted subcutaneously in the upper arm by a health care provider via a brief in-office procedure.
Patients who are interested in getting started on Eversense can sign up at www.eversensediabetes.com/get-started-today. Physicians, nurse practitioners or physician assistants interested in offering the Eversense CGM System for their patients can contact 844-SENSE4U (844-736-7348).
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. The system is indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration twice per day, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are 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 growth in payer coverage and nature of future coverage, and the potential benefits Eversense 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 in the development and regulatory approval processes, uncertainties inherent in the commercial launch and commercial expansion of the product, including without limitation decisions by payers, 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, Senseonics’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, 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.