More Than 150 Million Americans Now Have Insurance Coverage for Kerecis’ Medical-Fish-Skin Wound Treatment
REYKJAVIK, Iceland & ARLINGTON, Va.--(BUSINESS WIRE)--#fishskin--Kerecis announced today that, over the past year, 63 million more Americans became eligible for insurance coverage for the company’s fish-skin treatments, an increase of more than 70%. This is the result of more private insurance companies deciding to cover the Kerecis fish-skin technology, in addition to previously existing Medicare coverage. This milestone means that about 150 million Americans — about 45% of the country’s population — can now enjoy the benefits of the patented fish-skin treatment.
Kerecis is pioneering the use of sustainably sourced fish skin and fatty acids in cellular therapy and tissue regeneration and protection. The company has three product lines indicated for the treatment of damaged human tissue: GraftGuide® for burns, SurgiBind/SurgiClose® for surgical repair, and MariGen for conditions such as diabetic wounds, pressure ulcers and vascular ulcers.
The increased coverage is partially due to the fact that multiple large U.S. private insurers recently rated MariGen as “medically necessary” for diabetic foot ulcers that have not healed with standard therapy.
“This substantial growth in insurance coverage reflects the increased recognition of our treatment’s efficacy and economy of use,” said Fertram Sigurjonsson, founder and CEO of Kerecis. “A significant portion of the population now has access to our fish-skin treatment. We expect that the number of people covered by insurance for our products will increase from 150 million today to more than 200 million in the coming year,” he added.
The Kerecis technology has been the subject of more than 50 peer-reviewed studies including four randomized, controlled trials. Many of these studies have found that the Kerecis products heal wounds faster than alternative products.
Kerecis develops products from fish skin and fatty acids for cellular therapy, tissue regeneration and protection. When grafted onto damaged human tissue or implanted, the patented material recruits the body’s own cells and ultimately is converted into living tissue. Because no disease-transfer risk exists between cold-water fish and humans, the Kerecis fish skin is only gently processed and retains its similarity to human tissue. The gentle processing preserves the skin’s original three-dimensional structure, maintaining its inherent natural strength, complexity and molecules (such as fatty acids). Clinical studies have found that the Kerecis products heal wounds faster than competing products. Kerecis is the only approved manufacturer of medical devices containing intact fish skin globally.
Kerecis is the fastest-growing and one of the top five companies in the U.S. biologics-skin and dermal-substitute market, according to SmartTRAK Business Intelligence. Kerecis’ expanding product portfolio includes SurgiBind®/SurgiClose®, which are used for reconstructive surgery in hospital operating rooms; GraftGuide®, which is mostly sold to burn centers; and MariGen®, which is sold to healthcare facilities to treat diabetic and other chronic wounds.
Kerecis is committed to the United Nations Sustainable Development Goals. The fish skin used in Kerecis products derives from wild and sustainable fish stock caught in pristine Icelandic waters and processed with 100% renewable energy in the town of Isafjordur, close to the Arctic Circle. For more information, visit https://www.kerecis.com.
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