PROCEPT BioRobotics Corporation Announces Cigna Adds Aquablation Therapy to its Coverage Policy

Sep 28, 2021

REDWOOD CITY, Calif., Sept. 28, 2021 (GLOBE NEWSWIRE) -- PROCEPT® BioRobotics Corporation (Nasdaq: PRCT), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, today announced a new positive coverage decision from Cigna, expanding access to Aquablation therapy for the treatment of their members with Benign Prostatic Hyperplasia. The revised policy is effective September 15, 2021.

Cigna Corporation is a global health service company that provides health insurance coverage for approximately 16 million members in the United States. Their mission is to improve the health, well-being, and peace of mind to those they serve by making health care simple, affordable, and predictable.

“We are pleased with Cigna’s decision to cover Aquablation therapy for the treatment of lower urinary tract symptoms (LUTS) due to BPH. This coverage update will provide access to an effective, safe and durable treatment option to millions of members nationwide,” said Reza Zadno, President and CEO of Procept BioRobotics. “Payors continue to rely on high quality clinical data when establishing coverage criteria for new treatments, Aquablation therapy is the only BPH surgical treatment with proven clinical outcomes, independent of the size or the shape of the prostate, and a reduced risk of sexual side effects. With this updated policy, Cigna joins Medicare and numerous private health plans that cover Aquablation therapy.”

Cigna’s Updated Benign Prostatic Hyperplasia coverage policy can be found here: Cigna's BPH Coverage Policy

About PROCEPT BioRobotics Corporation
PROCEPT is a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. PROCEPT develops, manufactures and sells the AquaBeam Robotic System, an advanced, image-guided, surgical robotic system for use in minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia, or BPH. BPH is the most common prostate disease and impacts approximately 40 million men in the United States. PROCEPT designed Aquablation therapy to deliver effective, safe and durable outcomes for males suffering from lower urinary tract symptoms, or LUTS, due to BPH that are independent of prostate size and shape or surgeon experience. PROCEPT has developed a significant and growing body of clinical evidence, which includes nine clinical studies and over 100 peer-reviewed publications, supporting the benefits and clinical advantages of Aquablation therapy.

Forward Looking Statements
This release contains forward‐looking statements within the meaning of federal securities laws, including statements regarding the potential utilities, values, benefits and advantages of Aquablation® therapy performed using PROCEPT’s products, including AquaBeam® Robotic System, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. Forward‐looking statements should not be read as a guarantee of future performance or results and may not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward‐looking statements are based on PROCEPT’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward‐looking statements as a result of these risks and uncertainties. These risks and uncertainties are described more fully in the section titled “Risk Factors” in PROCEPT’s filings with the Securities and Exchange Commission (the “SEC”), including PROCEPT’s Registration Statement on Form S-1 filed with the SEC. PROCEPT does not undertake any obligation to update forward‐looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward‐looking statements contained herein. These forward-looking statements should not be relied upon as representing PROCEPT’s views as of any date subsequent to the date of this press release.

Investor Contact:
Gilmartin Group
Matt Bacso, CFA