Senseonics Announces a Collaboration with the University Hospitals Accountable Care Organization (UHACO) in Cleveland, Ohio

Rhea-AI Summary

The University Hospitals Accountable Care Organization (UHACO) in Cleveland, Ohio, has commenced offering the Eversense® Continuous Glucose Monitoring (CGM) System to Medicare enrollees as of early September 2021. This initiative aims to improve diabetes management among patients with type 1 and type 2 diabetes who are on insulin. The Eversense CGM System, which features a long-term implantable sensor and a smart transmitter, enhances patient experience and supports better health outcomes, as emphasized by Betul Hatipoglu, M.D. at UHACO.

Positive

• Eversense CGM System now available to Medicare enrollees, potentially increasing patient access and adoption.
• Enhanced patient experience and health outcomes with the Eversense CGM System, as highlighted by healthcare professionals.

Negative

• Dependence on insurance and regulatory approvals may affect market penetration and sales.
• Forward-looking statements indicate uncertainties in commercialization and potential market challenges.

--The University Hospitals Accountable Care Organization places patients on the Eversense CGM System

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, and Ascensia Diabetes Care, the makers of the CONTOUR® family of diabetes blood glucose monitoring devices and commercialization partner for Senseonics, have announced that the University Hospitals Accountable Care Organization (UHACO) in Cleveland, Ohio has begun offering the Eversense® CGM System to its Medicare enrollees effective early September, 2021. The recent decision to use the Eversense CGM System in eligible patients with type 1 diabetes or type 2 diabetes on insulin shows the commitment of UHACO to facilitate optimal diabetes management for its enrollees.

“We are excited to offer Eversense to our ACO patients with diabetes. Supplying tools for effective glucose management allows us to meet the Standards of Care for patients using insulin as outlined by the American Diabetes Association,” said Betul Hatipoglu, M.D., Head of Endocrinology and Diabetes at UHACO. “Eversense offers patients choice amongst continuous glucose monitoring devices. The Eversense CGM system delivers industry leading accuracy, an improved patient experience, and an array of unique features that afford people, especially those in the Medicare population, the opportunity to achieve improved health outcomes.”

Established in 2010, the mission of the University Hospitals Accountable Care Organization (UHACO) is to improve the health and wellness of employees and their dependents who are enrolled in a UH employee medical plan. UHACO has expansive care coordination and disease management programs to promote wellness and prevention, and improve population health.

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 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).

About Eversense

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/.

About Senseonics

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 use by patients or organizations, and the potential benefits Eversense offers people with diabetes, 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 the development and regulatory approval processes, uncertainties inherent in the commercial launch and commercial expansion of the product, uncertainties inherent in the transition of commercialization responsibilities to Ascensia, uncertainties in insurer, regulatory and administrative processes and decisions, uncertainties in the duration and severity of the Covid-19 pandemic, 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, 2020, Senseonics’ Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, 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/20210913005805/en/

Senseonics Investor Contact

Lynn Lewis or Philip Taylor

Investor Relations

415-937-5406

investors@senseonics.com

Senseonics Media Contact:

Mirasol Panlilio

301-556-1631

Source: Senseonics Holdings, Inc.

FAQ

What recent partnership has Senseonics announced regarding the Eversense CGM System?

Senseonics announced that the University Hospitals Accountable Care Organization in Cleveland, Ohio, will offer the Eversense CGM System to its Medicare enrollees.

When did University Hospitals begin offering the Eversense CGM System?

The Eversense CGM System became available to Medicare enrollees at University Hospitals in early September 2021.

What features make the Eversense CGM System notable for diabetes management?

The Eversense CGM System is the first long-term and implantable sensor with a smart transmitter that provides discreet alerts for glucose levels.

Who can benefit from the Eversense CGM System according to the press release?

Eligible patients with type 1 and type 2 diabetes who require insulin can benefit from the Eversense CGM System.

What is the stock symbol for Senseonics?

The stock symbol for Senseonics is AMEX:SENS.