Senseonics and Mercy Collaborate to Improve Diabetes Population Health Management

Rhea-AI Summary

Senseonics (NYSE American: SENS) has announced a partnership with Mercy, a prominent health care system, to enhance diabetes population health management. This collaboration will utilize Senseonics' Eversense implantable continuous glucose monitor (CGM) technology and the new Eversense Remote Patient Monitoring (RPM) solution across Mercy's extensive network. Mercy, serving over 3 million patients annually, plans to implement the program in phases starting July, initially targeting 30,000 patients. This initiative aims to improve patient care, reduce hospitalizations, and provide personalized diabetes management, reaching full implementation by 2025.

Positive

• Senseonics' collaboration with Mercy introduces its Eversense CGM technology across a major health system.
• The new RPM solution aims to significantly advance diabetes management.
• Mercy has extensive experience with remote patient monitoring, enhancing program reliability.
• Potential reach includes 30,000 patients within Mercy's network.
• Phased implementation ensures careful monitoring and adaptation.
• The program aims for full implementation by 2025, showing clear timelines and goals.
• The initiative aligns with Mercy's commitment to proactive, predictive, and personalized care.

Negative

• There is no immediate indication of financial impact or projections for Senseonics.
• The phased rollout might delay revenue realization.
• Potential challenges in scaling the program quickly and efficiently.
• No specific clinical or financial outcomes have been guaranteed.

Insights

Medical Research Analyst

Senseonics’ Eversense Remote Patient Monitoring (RPM) solution marks a significant step forward in diabetes care. The long-term implantable continuous glucose monitor (CGM) coupled with Mercy’s expansive healthcare network can potentially transform patient outcomes. The integration of this technology means patients will receive more personalized and timely interventions, reducing the risks associated with poor glucose management. This is particularly important as traditional CGMs require frequent replacements, which can be disruptive and costly.

From a clinical standpoint, it is noteworthy that Mercy plans to enroll approximately 30,000 patients in this program. Such a large sample size could generate considerable data, enabling further refinements in diabetes management protocols and treatment strategies. Long-term studies could provide valuable insights into how sustained use of implantable CGMs impacts long-term health outcomes, which could potentially lead to broader adoption across other health systems.

Investors should note that while the initial rollout is set to begin in July, the phased approach spreading through 2025 allows time for thorough assessment and potential scale-up. This strategy also offers buffer time for addressing any unforeseen challenges in deployment and patient adaptation.

Financial Analyst

From a financial perspective, the collaboration between Senseonics and Mercy is promising for several reasons. Firstly, the adoption of Senseonics’ CGM technology by a major healthcare provider like Mercy validates the commercial potential of the Eversense system. It signals market confidence and could drive other healthcare systems to follow suit, enhancing market penetration.

The projected enrolment of around 30,000 patients is a substantial number, potentially leading to significant revenue streams for Senseonics. However, investors should remain cautious about the implementation timeline. The phased rollout means that revenue impact will be gradual rather than immediate, requiring sustained investor patience.

Another key point is the potential reduction in costly hospitalizations. While this directly benefits the healthcare system, it also indirectly strengthens Senseonics’ market position. If the Eversense RPM program successfully reduces hospitalizations and improves patient outcomes, it will likely bolster Senseonics' reputation and encourage further adoption of their technology.

Enhancing patient care and advancing innovation with the only long-term implantable continuous glucose monitor

GERMANTOWN, Md. & CHESTERFIELD, Mo.--(BUSINESS WIRE)-- Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitor (CGM) systems for people with diabetes, in partnership with our global commercial partner, Ascensia Diabetes Care, and St. Louis-based Mercy, a leading health care system and accountable care organization, today announced a first-of-its-kind relationship in a diabetes population management program.

The collaboration marks the first time Senseonics’ Eversense CGM technology will be used across a health system and the first implementation of Senseonics’ new Eversense Remote Patient Monitoring (RPM) solution to drive significant advancement in diabetes management for patients.

“There are many barriers patients with diabetes struggle with and glucose monitoring is at the top,” said Dr. Jeff Ciaramita, President, Mercy specialty service lines. “We believe the launch of the Eversense Remote Patient Monitoring program will transform diabetes care for our patients and providers. This program is designed to enhance our ability to monitor patient health remotely and support timely interventions that can significantly improve our patients’ lives and reduce costly, avoidable hospitalizations.”

Mercy has more than a decade of experience with remote patient monitoring for a variety of conditions. With more than 3 million patients served annually, it is expected that approximately 30,000 Mercy patients could benefit from a CGM system. Providers at Mercy plan to begin placing new Eversense devices with patients this July. In a phased approach, Mercy will roll the program out first in its St. Louis-area communities followed by the remaining regions in Mercy’s system in Missouri, Kansas, Arkansas and Oklahoma throughout 2025.

“We plan to work with our physicians, from the Mercy proceduralists, who will perform insertions, to the primary care teams who monitor patients regularly and endocrinologists who support at-risk patients,” Dr. Ciaramita said. “The integration of the Eversense CGM+RPM solution is a representation of Mercy’s ongoing commitment to providing our patients proactive, predictive and personalized care.”

The goal for the Eversense RPM program is to ensure all patients who could benefit from Eversense begin treatment over the next 24 to 36 months.

“Mercy is known as an innovative health care leader, so it makes sense that they are the first health system to work with us towards providing a comprehensive approach towards better diabetes care,” said Tim Goodnow, PhD, Senseonics president and chief executive officer. “Together with Mercy and Ascensia, we are building a forward-looking approach to provide access for diabetes patients, from identifying those in need to leveraging the latest continuous glucose monitoring technology and providing the support patients need to better self-manage their diabetes. Additionally, we plan to work with Mercy to provide patient access to our exciting future products, including the next-gen 365-day product we hope to bring to market later this year. Together, we are pushing the frontier of diabetes management.”

Revolutionizing Diabetes Care

Eversense CGM offers a unique approach to diabetes management, targeted at enabling patients and providers to achieve better glycemic control and reduce the risk of diabetes-related complications. With the addition of the new Eversense RPM solution, patients will receive ongoing coaching and guidance to facilitate improved outcomes beyond CGM alone. The program is intended to enhance the quality of life for Mercy patients by making diabetes management easier and more accurate.

A Strategic Move Towards Cost Reduction and Improved Outcomes

The implementation of Eversense CGM+RPM across Mercy is a step forward in enhancing patient care and a strategic move to reduce health care costs. By improving glucose monitoring and enhancing patients’ ability to self-manage their diabetes, Mercy aims to reduce the incidence of emergency room visits and hospitalizations due to diabetes-related complications, leading to significant cost savings and better health outcomes.

Commitment to Health Care Innovation

Mercy has been at the forefront of health care innovation, as evidenced by its inclusion as one of America’s Most Innovative Companies by Fortune magazine in 2023. The relationship with Senseonics is a continuation of Mercy’s mission to incorporate cutting-edge technologies that enhance patient care and operational efficiencies. This collaboration represents a shared vision with health care innovation as a cornerstone.

About Mercy

Mercy, one of the 20 largest U.S. health systems and named the top large system in the U.S. for excellent patient experience by NRC Health, serves millions annually with nationally recognized care and one of the nation’s largest and highest performing Accountable Care Organizations in quality and cost. Mercy is a highly integrated, multi-state health care system including more than 50 acute care and specialty (heart, children’s, orthopedic and rehab) hospitals, convenient and urgent care locations, imaging centers and pharmacies. Mercy has over 900 physician practice locations and outpatient facilities, more than 4,500 physicians and advanced practitioners and 50,000 co-workers serving patients and families across Arkansas, Kansas, Missouri and Oklahoma. Mercy also has clinics, outpatient services and outreach ministries in Arkansas, Louisiana, Mississippi and Texas. In fiscal year 2023 alone, Mercy provided more than half a billion dollars of free care and other community benefits, including traditional charity care and unreimbursed Medicaid.

About Senseonics

Senseonics Holdings, Inc. is a medical technology company focused on the development and commercialization of transformational glucose monitoring products designed to help people with diabetes confidently live their lives with ease. Eversense® is the first and only long-term implantable CGM system to receive FDA approval.

About Eversense

The Eversense® E3 Continuous Glucose Monitoring (CGM) System is indicated for continually measuring glucose levels for up to 180 days in persons with diabetes age 18 and older. 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 primarily one time a day after day 21, 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 E3 CGM System is a prescription device; patients should talk to their health care provider to learn more. For important safety information, see https://www.ascensiadiabetes.com/eversense/safety-info/.

Forward Looking Statements

Any statements in this press release about future expectations, plans and prospects for Senseonics, including statements regarding launch expectations for Eversense and Eversense RPM programs, statements regarding growing the awareness, design, adoption, growth and potential benefits of Eversense and Eversense RPM, statements regarding potential plans and prospects for implementation and integration of Eversense RPM, statements regarding progress and timing of collaboration and adoption with respect to Eversense and any health system, or its patients and providers, statements regarding the attributes and value to patients, patient care and health systems of any such CGM and/or RPM systems, statements regarding regulatory submissions, potential market availability, and approaches for the Eversense product, and other statements containing the words "believe," "expect," "intend," "may," "projects," "will," "planned," 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 insurer, regulatory and administrative processes and decisions, uncertainties inherent in the development of new technology and/or programs, uncertainties inherent in finalizing integration and commercial terms with new partners and other third parties, uncertainties inherent in the ongoing commercialization of the Eversense product and the expansion of the Eversense product and a new RPM solution, uncertainties inherent in Ascensia's performance and other commercial initiatives, uncertainties relating to the current economic environment 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, 2023 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240513642327/en/

For more information, contact:

Mercy Media Relations

Bethany Pope 314-251-4472 Website: mercy.net

Bethany.Pope@Mercy.Net

Senseonics Investor Contact:

Philip Taylor

Gilmartin Group

415-937-5406

Investors@senseonics.com

Source: Senseonics Holdings, Inc.

FAQ

What is the collaboration between Senseonics and Mercy about?

Senseonics and Mercy are partnering to enhance diabetes population health management using Eversense CGM technology and the new Eversense Remote Patient Monitoring solution.

When will Mercy start using the Eversense CGM system?

Providers at Mercy plan to begin placing new Eversense devices with patients in July.

How many patients are expected to benefit from the Senseonics-Mercy collaboration?

Approximately 30,000 patients within the Mercy health system are expected to benefit from the Eversense CGM system.

What regions will Mercy's Eversense RPM program cover?

The program will initially roll out in St. Louis-area communities, followed by other regions in Missouri, Kansas, Arkansas, and Oklahoma.

What is the goal for the Eversense RPM program's timeline?

The goal is to ensure all patients who could benefit from Eversense begin treatment over the next 24 to 36 months, achieving full implementation by 2025.