SOURCE: Spiracur Inc.

Spiracur Inc.

July 14, 2011 09:00 ET

Independence Blue Cross to Cover Spiracur's SNaP Wound Care System

More Payers Continue to Offer Coverage for Groundbreaking Device

SUNNYVALE, CA--(Marketwire - Jul 14, 2011) - Spiracur Inc., the developer of an ultraportable and disposable negative pressure wound therapy (NPWT) device, announced today that Independence Blue Cross (IBC) of Pennsylvania has expanded its coverage policy to include Spiracur's SNaP® Wound Care System, effective July 6, 2011.

"Upon careful review of clinical literature and value proposition of the SNaP Wound Care System, IBC decided to issue a positive coverage policy for the SNaP System, as this NPWT device clearly meets the medically necessary criteria and requirements for a specific subset of our members, and we believe it offers an optimal solution in this setting," said Richard Snyder, MD, SVP and Chief Medical Officer, Independence Blue Cross, Philadelphia.

"IBC is dedicated to providing its members with proven, affordable healthcare solutions. Utilizing a small and effective negative pressure therapy system such as the SNaP System offers an innovative approach that will benefit our customers who suffer from chronic wounds including diabetic or venous ulcers, complications of a surgically created wound, trauma wounds and others deemed appropriate for NPWT systems," continued Dr. Snyder.

Independence Blue Cross is a leading health insurer in southeastern Pennsylvania with 2.6 million members in the local area. Nationwide, IBC and its subsidiaries provide coverage to 3.4 million people.

"It is critically important that patients who are candidates for NPWT have access to new, innovative treatments and we are pleased that IBC has issued this positive coverage policy," said Kenton D. Fong, M.D., chief scientific officer, Spiracur Inc. "The SNaP System has the potential to dramatically increase the healing rates of chronic wounds, improve limb salvage rates and have a meaningful impact on patient's lives while saving on healthcare costs."

About the SNaP Wound Care System
Spiracur's SNaP Wound Care System (Smart Negative Pressure) is changing the approach of how wound healing is delivered to patients. Its inventive design eliminates the electric or battery powered pump used to deliver NPWT. The SNaP System is completely silent and lightweight, weighing only 2.2 ounces. In addition, the device is discreet and can easily fit under a patient's clothing, which may result in significantly improved patient acceptance and compliance of the therapy. Spiracur was awarded the prestigious American Podiatric Medical Association's (APMA) Seal of Approval for the SNaP System in March 2011.

About Spiracur Inc.
Spiracur Inc., headquartered in Sunnyvale, Calif., is a privately held medical device company focused on the development of innovative wound healing technologies. Spiracur was founded out of the Stanford Biodesign Innovation Program in 2007. Its first product, the SNaP Wound Care System, is the result of patient and clinician feedback that current negative pressure wound therapies were too cumbersome. The SNaP Wound Care System was cleared by the U.S. Food & Drug Administration (FDA) in August 2009 in a new therapy category defined as "non-powered" NPWT devices, and the company obtained CE Mark for the device in December 2010. The SNaP Wound Care System is indicated for patients who would benefit from a suction device, particularly as the device may promote wound healing through the removal of excess exudates, infectious material and tissue debris. The device is indicated for removal of small amounts of exudates from chronic, acute, traumatic, subacute and dehisced wounds, partial-thickness burns, ulcers (such as diabetic and pressure), surgically closed incisions, flaps and grafts. For more information, please visit http://www.spiracur.com.

Spiracur, Spiracur logo and SNaP are registered trademarks of Spiracur Inc. SNaP & Design and Smart Negative Pressure are trademarks of Spiracur Inc.

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