Aclarion Hits Another Key Milestone by Adding Vitality - Third Major Payer to Cover Nociscan in Greater UK

Rhea-AI Summary

Aclarion (NASDAQ: ACON) has achieved a significant milestone by securing coverage for its Nociscan technology from Vitality, the third major private health insurer in the UK. This addition means Aclarion now has coverage from 3 of the 4 largest private health insurers in the UK, providing access to nearly 60% of patients with private health insurance in the Greater London market.

Nociscan, a SaaS platform that helps physicians identify the location of chronic low back pain, is gaining traction in the UK healthcare market. The London Clinic, a renowned independent hospital, has played a important role in demonstrating Nociscan's value and securing payer coverage. Aclarion's CEO, Brent Ness, expects this success to be replicated across their 10 KOL sites globally.

With private medical insurance becoming increasingly popular in the UK, these coverage decisions represent a significant shift in Aclarion's business model, providing a clear path to commercialization in the UK market.

Positive

• Secured coverage from 3 of the 4 largest private health insurers in the UK
• Nearly 60% of patients with private health insurance in Greater London now have access to Nociscan
• Clear path to commercialization in the UK market established
• Adoption by The London Clinic, a renowned independent hospital, after only 20 patients
• Potential for replication of success across 10 KOL sites globally

Negative

• None.

• Vitality is a top 4 Provider of Private Medical Insurance in the UK.
• Aclarion now has Payer Coverage From 3 of the 4 Largest Private Health Insurers in the UK.
• Nearly 60% of all Patients With Private Health Insurance in the Greater London Market now Have Access to Aclarion’s Nociscan.

BROOMFIELD, CO, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Aclarion, Inc., (“Aclarion” or the “Company”) (Nasdaq: ACON, ACONW), a healthcare technology company that is leveraging biomarkers and proprietary augmented intelligence algorithms to help physicians identify the location of chronic low back pain, announced today their third payer coverage of Nociscan by Vitality in London, UK in conjunction with The London Clinic, one of the UK’s largest and most renowned independent hospitals. With the addition of coverage by Vitality, payer coverage for Nociscan is now available from three major private medical insurance groups in the UK, a global healthcare market with more than nine million residents.

“With three of the top four private payer systems in greater London covering Nociscan, we expect to see further coverage and strong product adoption in the UK market,” said Brent Ness, CEO of Aclarion. “These coverage decisions support the movement of Nociscan into the standard of care and further validate our strategy of partnering with strong clinical leaders in each market to let them see the value of our technology for improving surgical decisioning and then supporting these clinical leaders as they take Nociscan to the payers for coverage. The London Clinic team saw the value in Nociscan after only 20 patients and have thus far delivered payer coverage from 3 of the top 4 private health insurance payers in the market. We expect to replicate The London Clinic success in driving payer coverage at each of our 10 KOL sites in the U.S. and elsewhere around the world.”

In the UK, self-pay and private medical insurance are estimated to represent nearly 70% of private hospital revenues with private medical insurance becoming increasingly popular. Vitality is one of the four leading private medical insurers in the UK with an estimated 13% of the private medical insurance market and an estimated one million insured customers. By joining AXA and Aviva in covering Nociscan, almost 60% of the patients with private insurance now have access to Nociscan.

John Lorbiecki, Aclarion CFO, added, “These significant payer coverage decisions represent a sea change in our business. Every medical technology or services company faces the same dilemma of bringing new products to market. Without insurance companies paying for a technology or service, the revenue challenge is obvious. As soon as insurance companies recognize new innovations with an assigned payment, the economics change considerably. We now have a clear path to commercialization in the UK and will be allocating resources accordingly.”    

Low back pain is estimated to affect up to one third of the UK adult population each year. The London Spine Clinic is the first private specialist spinal unit in England and their expert spine physicians have adopted Nociscan as an important decision support tool to be used when diagnosing and treating chronic low back pain. Nociscan is the first evidence-supported SaaS platform to noninvasively help physicians distinguish between painful and nonpainful discs in the lumbar spine by quantifying chemical biomarkers demonstrated to be associated with disc pain. This biomarker data is entered into proprietary algorithms to highlight if a disc may be a source of pain, and when used with other diagnostic tools, provides critical insights into the location of a patient’s low back pain.

For more information about The London Clinic, please visit: www.thelondonclinic.co.uk

For more information about the London Spine Clinic, please visit: www.londonspineclinic.com

About Aclarion, Inc.

Aclarion is a healthcare technology company that leverages Magnetic Resonance Spectroscopy (“MRS”), proprietary signal processing techniques, biomarkers, and augmented intelligence algorithms to optimize clinical treatments. The Company is first addressing the chronic low back pain market with Nociscan, the first, evidence-supported, SaaS platform to noninvasively help physicians distinguish between painful and nonpainful discs in the lumbar spine. Through a cloud connection, Nociscan receives magnetic resonance spectroscopy (MRS) data from an MRI machine for each lumbar disc being evaluated. In the cloud, proprietary signal processing techniques extract and quantify chemical biomarkers demonstrated to be associated with disc pain. Biomarker data is entered into proprietary algorithms to indicate if a disc may be a source of pain. When used with other diagnostic tools, Nociscan provides critical insights into the location of a patient’s low back pain, giving physicians clarity to optimize treatment strategies.  For more information, please visit www.aclarion.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as well as other disclosures contained in the Prospectus and subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Disclosure

The information stated above was prepared by Aclarion and reflects solely the opinion of Aclarion. Nothing in this statement shall be construed to imply any support or endorsement of Aclarion or any of its products by The London Clinic.

Investor Contacts:
Kirin M. Smith
PCG Advisory, Inc.
646.823.8656
ksmith@pcgadvisory.com

Media Contacts:
Jodi Lamberti
SPRIG Consulting
612.812.7477
jodi@sprigconsulting.com

FAQ

What is the significance of Vitality covering Aclarion's Nociscan technology?

Vitality's coverage of Nociscan is significant because it's the third major private health insurer in the UK to do so, joining AXA and Aviva. This means Aclarion now has coverage from 3 of the 4 largest private health insurers in the UK, providing access to nearly 60% of patients with private health insurance in the Greater London market.

How does Nociscan help in diagnosing chronic low back pain?

Nociscan is a SaaS platform that noninvasively helps physicians distinguish between painful and nonpainful discs in the lumbar spine. It quantifies chemical biomarkers associated with disc pain and uses proprietary algorithms to highlight potential pain sources, providing critical insights when used with other diagnostic tools.

What impact does this coverage have on Aclarion's (ACON) business model?

The coverage decisions represent a significant shift in Aclarion's business model. With major insurance companies now paying for the technology, it provides a clear path to commercialization in the UK market, potentially leading to stronger product adoption and revenue growth.

How prevalent is low back pain in the UK population?

Low back pain is estimated to affect up to one-third of the UK adult population each year, indicating a significant market for Aclarion's Nociscan technology.