Axonics® Announces Listing on the U.K.’s National Health Service Supply Chain for Its Sacral Neuromodulation System
Axonics Modulation Technologies, Inc. (NASDAQ:AXNX), a medical technology company focused on the design, development and commercialization of innovative and minimally invasive sacral neuromodulation (“SNM”) solutions for the treatment of urinary and bowel dysfunction, announced today that the Axonics r-SNM™ System has been listed on the U.K.’s National Health Service Supply Chain (“NHS SC”) online catalogue, thereby allowing wide commercial distribution to NHS hospitals in England.
Listing on the NHS SC online catalogue is a key step toward broader availability of new medical technologies and orders for the Company’s product are already being received and shipped. The Axonics r-SNM System is the first rechargeable SNM system approved for sale in the U.K. for patients suffering from overactive bladder, fecal incontinence and urinary retention.
Raymond W. Cohen, CEO of Axonics, commented, “Following the effort initiated by the NHS to centralize medical device purchasing for its hospitals, listing on the NHS SC online catalogue is critical to conduct business in England. We are now well positioned for physicians to select and implant the Axonics solution for the benefit of a broader range of patients. These early orders are important as we establish our brand and create referral sites in England. Given the cost-saving aspect of our long-lived r-SNM implant and innovative product features, we are optimistic about our ability to further penetrate the market in the U.K. in 2019.”
About the U.K.’s National Health Service (NHS) Supply Chain
NHS Supply Chain (“NHS SC”) provides patient-focused healthcare products and supply chain services to the U.K.’s NHS. The NHS SC end-to-end supply chain services incorporate procurement, logistics, e-Commerce and customer and supplier support. The e-Commerce site hosts 315,000 product lines, ranging from bandages to MRI scanners, and is working to deliver £300 million of procurement efficiencies. NHS SC works with suppliers to deliver high-quality, cost-effective products to more than 1,000 NHS hospital trusts and healthcare organizations.
About Overactive Bladder and Sacral Neuromodulation
Overactive bladder (OAB) affects an estimated 85 million adults in the U.S. and Europe. Another approximately 40 million adults are reported to suffer from fecal incontinence. SNM therapy is an effective and durable treatment that has been widely used and reimbursed in Europe and the U.S. for the past two decades. SNM is the only OAB treatment with proven clinical superiority to standard medical therapy and OAB patients who receive SNM report significantly higher quality of life than patients undergoing drug treatment.
About Axonics Modulation Technologies, Inc.
Axonics, based in Irvine, CA, is focused on development and commercialization of a novel implantable SNM system for patients with urinary and bowel dysfunction and disrupting the SNM market that is currently dominated by one large provider. The Axonics r-SNM System is the first rechargeable Sacral Neuromodulation system approved for sale in Europe, Canada and Australia. The r-SNM System offers a temporary disposable external trial system, a miniaturized and rechargeable long-lived stimulator that is qualified to function for at least 15 years and a tined lead, as well as patient-friendly accessories such as a charging system optimized for minimal charge time without overheating, a small, easy to use patient remote control and an intuitive clinician programmer that facilitates lead placement and programming. For more information, visit the Company’s website at www.axonicsmodulation.com.
Statements made in this press release that relate to future plans, events, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Words such as “planned,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. While these forward-looking statements are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in Axonics filings with the Securities and Exchange Commission, all of which are available online at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Axonics undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
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