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 three more Blue Cross Blue Shield plans are now providing coverage for the Eversense® CGM System, effective immediately. These recent coverage decisions add 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.
Blue Cross and Blue Shield of Arizona has added coverage for Eversense which expands access to approximately 1.5 million Arizona residents. CareFirst Blue Cross and Blue Shield offers health plans and administrative services to approximately 3.3 million individuals and employers in Maryland, the District of Columbia, and Northern Virginia and has expanded coverage for Eversense. Independence Blue Cross and AmeriHealth have also opened the door to coverage for Eversense as they serve approximately 4.8 million people in Pennsylvania and surrounding markets.
“We are excited to see the continued progress on the expansion of coverage for Eversense as the payer community recognizes the value Eversense provides for patients using insulin to manage their diabetes and the need for more CGM options,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “Improved glucose control for patients with diabetes has always been a focal point for health care professionals, but now more than ever we are seeing the impacts of poor glucose control in patients who contract COVID-19. Given this new environment, it is becoming even more vital for patients to have an array of options to better manage their diabetes. Eversense offers patients a new choice in the CGM class that delivers outstanding accuracy and patient experience, and an opportunity to achieve improved health outcomes.”
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 that 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 and healthcare providers interested in learning more can go to www.eversensediabetes.com.
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 progress or growth in payer coverage and nature of future coverage, the potential benefits Eversense offers people with diabetes, and treatment considerations for patients and health care professionals, 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, uncertainties in market views regarding the product, 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.