Helius Medical Technologies, Inc. Announces Partnership with Lovell® Government Services to Expand Reach of PoNS Therapy™
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Insights
The partnership between Helius Medical Technologies and Lovell Government Services to supply the Portable Neuromodulation Stimulator (PoNS) to the U.S. Department of Veterans Affairs (VA) and Department of Defense (DoD) represents a significant step in addressing gait deficits in veterans with multiple sclerosis (MS). From a medical research perspective, the reported 'clinically meaningful improvement in gait' in 100% of MS patients after 14 weeks of PoNS Therapy is a remarkable claim that warrants scrutiny.
Considering the annual report of over 28,000 MS cases to the VA, the potential impact on patient quality of life is substantial. The integration of PoNS into a federal healthcare system suggests a large-scale adoption that could not only improve individual patient outcomes but also potentially reduce long-term healthcare costs associated with MS-related mobility issues.
However, it's essential to cross-reference such claims with peer-reviewed studies to validate the efficacy and safety of PoNS Therapy. The long-term benefits and any potential side effects should be closely monitored to ensure the treatment's viability.
From an economic standpoint, the introduction of PoNS Therapy within the VA healthcare system could lead to a reallocation of resources towards this new technology. The adoption of such innovative treatments often comes with an initial increase in expenditure. However, if the therapy proves to be as effective as suggested, it could result in a decrease in other medical costs, such as those associated with falls, hospitalizations and long-term disability support.
Furthermore, the partnership with Lovell, a Service Disabled Veteran Owned Small Business, aligns with federal initiatives to support veteran-owned enterprises, potentially stimulating economic growth within this sector. The broader economic impact would depend on the scalability of the production and distribution of the PoNS device, as well as the balance between costs and health outcomes.
The strategic partnership and the subsequent availability of PoNS to the VA and DoD can be seen as a positive development for Helius Medical Technologies' market position. The company's stock could see an uptick as investors respond to the expanded market access and the potential for increased sales volume.
It's important to note that the veterans' healthcare market is both specialized and sizable. Success in this market could not only drive revenue for Helius but also enhance its reputation and credibility in the broader medical device industry. This could pave the way for further expansion into other areas of the healthcare market that require neuromodulation therapies.
Investor confidence may also be bolstered by personal success stories, such as that of Captain Byrne, which humanize the product and can be a powerful marketing tool. However, investors should also consider the company's ability to scale up production and maintain quality control as demand within federal healthcare systems increases.
-- Lovell is an approved supplier to the U.S. Department of Veterans Affairs (VA) and Department of Defense (DoD) --
-- Over 28,000 cases of multiple sclerosis (MS) are reported to the VA annually --
NEWTOWN, Pa., April 03, 2024 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq:HSDT) (“Helius” or the “Company”), a neurotech company focused on delivering a novel therapeutic neuromodulation approach for balance and gait deficits, today announced it has partnered with Lovell Government Services (“Lovell”), an SBA-certified Service Disabled Veteran Owned Small Business (“SDVOSB”), to make the Company’s Portable Neuromodulation Stimulator (“PoNS®”) device available to federal healthcare systems. PoNS is indicated in the U.S. for use as a short-term treatment of gait deficit in adults with mild-to-moderate symptoms from MS when used in conjunction with physical therapy.
“Through their Multiple Sclerosis Centers of Excellence, the VA is dedicated to maximizing the quality of life for veterans suffering from MS, and we are thrilled to partner with Lovell to expand the reach of our innovative PoNS device. In a study of real-world results, after 14 weeks of PoNS Therapy,
“As the largest integrated healthcare system in the U.S., the VA provides services to veterans with MS from the time of diagnosis through the rest of their lives. Veterans have given their best to our country and should have access to the most innovative and effective resources available. Lovell is proud to introduce this important product to the VA and other federal healthcare providers,” said Chris Lovell, Major, USMC (Ret.), CEO of Lovell Government Services.
“Recently, Helius highlighted the real-life story of Kevin Byrne, a retired U.S. veteran who’s been suffering from MS since 1999. Gait difficulties had taken away his most valued treasure, quality adventures with his 13-year-old daughter, but PoNS Therapy helped him improve his walking by increasing speed, endurance, and distance. After treatment with PoNS, he was able to take his daughter to New York City, where they enjoyed walking the streets and seeing Broadway shows, experiences he thought were lost forever. While clinical results have demonstrated the effectiveness of PoNS Therapy, it’s firsthand accounts like Captain Byrne’s that are the most gratifying,” concluded Andreeff.
About Lovell® Government Services
Lovell Government Services has been a trusted SDVOSB vendor since 2013 with a proven track record of successfully introducing suppliers to the government market. Lovell is a two-time Inc. 5000 honoree and leader in the federal space. They partner with medical and pharmaceutical companies looking to better serve veteran and military patient populations, increase their federal revenue stream, and win government contracts. Learn more at www.lovellgov.com.
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a leading neurotech company in the medical device field focused on neurologic deficits using orally applied technology platform that amplifies the brain’s ability to engage physiologic compensatory mechanisms and promote neuroplasticity, improving the lives of people dealing with neurologic diseases. The Company’s first commercial product is the Portable Neuromodulation Stimulator. For more information about the PoNS® or Helius Medical Technologies, visit www.heliusmedical.com.
About the PoNS Device and PoNS Therapy
The Portable Neuromodulation Stimulator (“PoNS”) is an innovative, non-implantable, orally applied therapy that delivers neurostimulation through a mouthpiece connected to a controller and it’s used, primarily at home, with physical rehabilitation exercise, to improve balance and gait. The PoNS device, which delivers mild electrical impulses to the tongue, is indicated for use in the United States as a short-term treatment of gait deficit due to mild-to-moderate symptoms from multiple sclerosis (“MS”) and is to be used as an adjunct to a supervised therapeutic exercise program in patients 22 years of age and over by prescription only.
PoNS has shown effectiveness in treating gait or balance and a significant reduction in the risk of falling in stroke patients in Canada, where it received authorization for sale in three indications: (i) for use as a short-term treatment (14 weeks) of gait deficit due to mild and moderate symptoms from stroke and is to be used in conjunction with physical therapy; (ii) for use as a short-term treatment (14 weeks) of chronic balance deficit due to mild-to-moderate traumatic brain injury (“mmTBI”) and is to be used in conjunction with physical therapy; and (iii) for use as a short-term treatment (14 weeks) of gait deficit due to mild and moderate symptoms from MS and is to be used in conjunction with physical therapy. PoNS is also authorized for sale in Australia for short term use by healthcare professionals as an adjunct to a therapeutic exercise program to improve balance and gait. For more information visit www.ponstherapy.com.
Cautionary Disclaimer Statement
Certain statements in this news release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements are often identified by terms such as “believe,” “expect,” “continue,” “will,” “goal,” “aim” and similar expressions. Such forward-looking statements include, among others, statements regarding the Company’s partnership with Lovell and the uses and effectiveness of PoNS and PoNS Therapy.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties associated with the Company’s capital requirements to achieve its business objectives, availability of funds, the Company’s ability to find additional sources of funding, manufacturing, labor shortage and supply chain risks, including risks related to manufacturing delays, the Company’s ability to obtain national Medicare insurance coverage and to obtain a reimbursement code, the Company’s ability to continue to build internal commercial infrastructure, secure state distribution licenses, market awareness of the PoNS device, future clinical trials and the clinical development process, the product development process and the FDA regulatory submission review and approval process, other development activities, ongoing government regulation, and other risks detailed from time to time in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and its other filings with the United States Securities and Exchange Commission and the Canadian securities regulators, which can be obtained from either at www.sec.gov or www.sedar.com.
The reader is cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements except to the extent required by law.
Investor Relations Contact
Lisa M. Wilson, In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com
FAQ
What is Helius Medical Technologies partnering with Lovell Government Services for?
What is the indication for PoNS device in the U.S.?
How many cases of MS are reported to the VA annually?
What percentage of MS patients experienced a clinically meaningful improvement in gait after 14 weeks of PoNS Therapy?
Who is Chris Lovell and what is his role in the partnership?
