Helius Medical Technologies, Inc. Announces PoNS® Is Now Available on the Veterans Affairs (VA) Federal Supply Schedule (FSS) and General Services Administration (GSA) Advantage Contracts
Helius Medical Technologies has announced that its Portable Neuromodulation Stimulator (PoNS®) device has been approved for inclusion on the Veterans Affairs (VA) Federal Supply Schedule (FSS) and General Services Administration (GSA) Advantage contracts. This approval allows U.S. veterans and federal employees access to the PoNS® device for treating gait and balance impairments associated with multiple sclerosis (MS). Priced at $23,843.72 for the device and $7,344.97 for the mouthpiece, the PoNS® device is now available for purchase through the VA's FSS Medical Equipment and Surgical Contract and the GSA Advantage online catalog.
The VA estimates that 55,000 to 70,000 U.S. veterans live with MS. The PoNS® device is designed to induce neuroplasticity, aiding in the modification and adaptation of brain activity. Helius's partnership with Lovell Government Services aims to streamline the availability of this therapy through federal healthcare systems.
- PoNS® device approved for inclusion on VA Federal Supply Schedule and GSA Advantage contracts.
- Provides access to neurostimulation therapy for U.S. veterans and federal employees with MS.
- PoNS® device priced at $23,843.72, mouthpiece at $7,344.97.
- Estimated 55,000-70,000 U.S. veterans with MS may benefit.
- Partnership with Lovell Government Services enhances distribution.
- High cost of PoNS® device ($23,843.72) and mouthpiece ($7,344.97) could be a barrier.
- to short-term treatment for gait deficits in adults with mild-to-moderate MS symptoms.
- No data on long-term efficacy or cost-effectiveness presented.
- Potential financial impact on veterans and federal employees not covered by insurance.
Insights
The inclusion of PoNS® on the VA Federal Supply Schedule and GSA Advantage contracts is a significant milestone for Helius Medical Technologies. This development means that U.S. veterans and other federal employees who suffer from gait and balance impairment due to multiple sclerosis (MS) will now have easier access to this innovative therapy. PoNS® is unique in that it offers a portable neurostimulation therapy aimed at enhancing neuroplasticity, which is the brain's ability to adapt and reorganize itself. This is especially important for MS patients who face progressive neurological deficits. By being included in these federal supply schedules, PoNS® becomes more accessible to a substantial group of patients, potentially improving their quality of life. However, skepticism might arise concerning the high price point of the device. The cost-benefit ratio will be essential to monitor as more data becomes available on the long-term efficacy and safety of PoNS®.
From a financial standpoint, Helius Medical Technologies' inclusion of PoNS® on the VA and GSA Advantage contracts could result in a substantial revenue increase. Given that there are an estimated 55,000 to 70,000 veterans in the U.S. living with MS, the potential market within the VA alone is quite large. The pre-approved pricing of
Strategically, the approval of PoNS® for VA and GSA contracts positions Helius Medical Technologies favorably within the neurostimulation therapy market. The VA's endorsement can serve as a strong validation of PoNS®'s clinical benefits and reliability. The partnership with Lovell Government Services enhances the credibility and visibility of the product. This move could also pave the way for further acceptance and integration of PoNS® into other healthcare systems and insurance networks. However, market penetration will depend largely on how the therapy is received by both patients and healthcare providers. Feedback and outcomes from initial users will be critical in shaping the product's reputation and future sales trajectory. As the only portable neurostimulation therapy approved for this use, PoNS® holds a competitive advantage, but Helius must ensure robust post-market surveillance and continuous support to maximize its market impact.
-- Approval provides U.S. veterans and other U.S. government agency employees who suffer gait and balance impairment due to multiple sclerosis (MS) access to the only portable neurostimulation therapy with the potential to generate neuroplasticity --
NEWTOWN, Pa., May 20, 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 the Company’s Portable Neuromodulation Stimulator (PoNS®) device has been approved for inclusion on Lovell Government Services’ (“Lovell”) Veterans Affairs (VA) Federal Supply Schedule (FSS) and General Services Administration (GSA) Advantage contracts.
The contract award number #V797D-50450 enables the VA and other Federal entities to purchase PoNS at pre-approved pricing via the VA’s FSS Medical Equipment and Surgical (Med/Surg) Contract at VA National Acquisition Center MedSurg Catalog and via the GSA Advantage online catalog at GSA Advantage. The PoNS system, Item # S1-001-02, is priced at
The VA estimates that between 55,000 and 70,000 veterans in the U.S. live with MS.
“We’re proud that PoNS is now available to veterans and Federal employees under the VA Healthcare System. PoNS is the only portable and readily accessible therapy that may lead to neuroplasticity, or the brain's ability to modify, change, or adapt in response to modulation of brain activity, making PoNS Therapy® a game changer for those affected by MS. The inclusion of PoNS on the FSS Med/Surg and GSA Advantage marketplace means that those who suffer gait or balance impairment will have quicker, more efficient access to this groundbreaking therapy. We are grateful for our partnership with Lovell and the opportunity to not only establish Helius as a preferred provider but, more importantly, get PoNS into the hands of the veterans and Federal employees who need it the most,” said Dane Andreeff, President and Chief Executive Officer of Helius.
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.
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FAQ
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