Senseonics Announces a Positive Coverage Decision for Eversense® E3 CGM from Anthem

Rhea-AI Summary

Senseonics Holdings, Inc. (AMEX: SENS) announced that Anthem is providing coverage for its Eversense E3 Continuous Glucose Monitoring (CGM) System, adding over 45 million covered lives. This expands the total coverage for Eversense to approximately 250 million lives in the U.S. The Eversense CGM offers a six-month sensor life, accurate glucose data, and remote monitoring capabilities for diabetes management. The decision follows similar coverage expansions by other major insurers, enhancing the accessibility of this advanced monitoring technology.

Positive

• Anthem coverage decision adds over 45 million covered lives for Eversense E3 CGM System.
• Total coverage now benefits approximately 250 million lives, enhancing market reach.
• Eversense CGM System offers six-month sensor life, sustained accuracy, and remote monitoring capabilities.

Negative

• None.

Anthem coverage decision adds over 45 million covered lives for the Eversense E3 CGM System

GERMANTOWN, Md.--(BUSINESS WIRE)-- Senseonics Holdings, Inc. (NYSE American: SENS) a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced that Anthem is providing coverage for implantable CGM, which includes the Eversense® CGM System. Anthem’s decision will add more than 45 million covered lives for the long-term implantable CGM system to help manage their diabetes. This recent coverage decision adds to the growing number of payers who are writing Eversense into their CGM coverage policies that now benefit approximately 250 million covered lives, as well as paying for the healthcare provider’s time for the in-office sensor insertion. This allows Ascensia Diabetes Care, Senseonics’ global commercial partner, to introduce the Eversense CGM System to more people living with diabetes.

Anthem (now Elevance Health) is the second largest health insurance company in the U.S. and a leading health company dedicated to improving lives and communities, and making healthcare simpler. Through its affiliated companies, Anthem serves people across 14 states, including more than 45 million within its family of health plans. This most recent coverage decision, in addition to Cigna, Aetna, Humana, HCSC Blue Cross Blue Shield and other health insurance providers, demonstrates broad-based coverage across the United States from the majority of commercial payers, enabling their members to access the benefits of the long-term Eversense CGM System.

“Anthem is dedicated to delivering better care to its members and improving the health of the communities it serves. We are excited for Anthem members to have the ability to effectively manage their diabetes through the only long-term implantable CGM system available,” said Tim Goodnow, PhD, President and Chief Executive Officer of Senseonics. “Eversense provides patients with actionable glucose data, enabling users to proactively manage their glucose levels. With its six month sensor life, sustained accuracy, on-body vibratory alerts and remote monitoring capability, Eversense E3 offers patients an advanced CGM to help effectively manage their diabetes and experience healthier outcomes.”

Patients who are interested in getting started with Eversense now can sign up at www.eversensediabetes.com/get-started-today. Physicians, nurse practitioners and physician assistants who are interested in offering the Eversense CGM System can sign up at https://www.ascensiadiabetes.com/eversense/become-a-provider/. Alternatively, contact 844-SENSE4U (844-736-7348) to learn more about the first and only long-term implantable CGM system.

About Eversense

The Eversense® E3 Continuous Glucose Monitoring (CGM) System is indicated for continually measuring glucose levels in persons age 18 years and older with diabetes for up to 6 months. 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 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 trained and certified 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://www.ascensiadiabetes.com/eversense/safety-info/.

About Senseonics

Senseonics Holdings, Inc. is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems, Eversense^®, Eversense^® XL and Eversense® E3 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 patient benefits, perceptions, uptake of the Eversense E3 product, and the ability to introduce the product to additional patients, statements regarding future coverage decisions and final outcomes, 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 inherent in the commercial launch and commercial expansion of the Eversense product, uncertainties inherent in the transition of commercialization responsibilities to Ascensia Diabetes Care and its commercial initiatives, uncertainties in insurer, regulatory and administrative processes, decisions and policy determinations, 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, 2021, Senseonics’ Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 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/20220803005317/en/

Senseonics Investor Contact

Philip Taylor

Investor Relations

415-937-5406

investors@senseonics.com

Source: Senseonics Holdings, Inc.

FAQ

What is the significance of Anthem's coverage decision for Senseonics (SENS)?

Anthem's decision to cover the Eversense E3 CGM System is significant as it adds over 45 million covered lives, bringing the total to approximately 250 million lives, enhancing patient access to diabetes management solutions.

How does the Eversense E3 CGM System differ from other glucose monitoring systems?

The Eversense E3 CGM System is notable for its six-month sensor life, which is longer than most other systems, along with features like sustained accuracy and remote monitoring.

Which major insurance providers are currently covering the Eversense CGM System?

In addition to Anthem, the Eversense CGM System is covered by major providers like Cigna, Aetna, Humana, and HCSC Blue Cross Blue Shield.

What benefits does the Eversense CGM System provide to patients?

The Eversense CGM System allows patients to manage their glucose levels proactively, offers on-body vibratory alerts, and enables remote monitoring, contributing to healthier diabetes management.