A Minnesota urinary incontinence treatment company is now expanding to treat that other voiding dysfunction.
Uroplasty(NASDAQ CM:UPI) announced Thursday that it is testing its Urgent PC Neuromodulation treatment for overactive bladders to now treat fecal incontinence.
The company will launch a clinical trial in late summer in the U.S. The office-based, minimally invasive treatment is already approved in Europe.
In addition, Uroplasty is also developing an implantable version of its Urgent PC Neuromodulation treatment that helps patients who suffer from overactive bladders.
“Physicians have been asking us for a small, easy-to-insert, implantable tibial nerve stimulation system as a way to effectively continue treating patients who have positively responded to Urgent PC therapy. Because this is a chronic condition with no cure, we anticipate this new product idea will allow for a unique continuum of care for these patients,” President and CEO Dave Kaysen said in a statement.
The company also reported its fiscal fourth quarter, which showed that the company’s sales revenue grew even as its loss was cut in half. In the quarter ended March 31, Uroplasty had a loss of $573,095, or 3 cents a share, compared to a loss of $1.3 million, or 6 cents per diluted share, in the same period in 2011. Revenue jumped 39 percent to $5.6 million, up from $4 million a year ago.
The company’s fortunes have been tied to its success in winning reimbursement. Percutaneous tibial nerve stimulation treatments are now covered by 11 of 13 regional Medicare carriers, the company reported.
By Arundhati Parmar
Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.More posts by Author
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