SAN DIEGO--(BUSINESS WIRE)--
Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device company and
manufacturer of the t:slim®, t:slim G4™ and t:flex® Insulin Pumps,
stated that it has learned that UnitedHealthcare yesterday announced
that effective July 1, 2016, UnitedHealthcare Community Plan and
Commercial members will no longer have an in-network choice among
insulin pump providers. This unexpected decision by UnitedHealthcare
designates Medtronic as their preferred, in-network durable medical
equipment provider of insulin pumps. The Company anticipates that this
decision will prevent a majority of UnitedHealthcare members from
purchasing an insulin pump on an in-network basis from Tandem Diabetes
Care and several other durable medical equipment providers.
"Having diabetes isn't a choice. How people manage it should be," said
Kim Blickenstaff, president and CEO of Tandem Diabetes Care. "Insulin
pumps are not a one-size fits all solution. Selecting which pump is the
best fit for a person to manage their therapy needs should be a decision
made between a person and their healthcare provider."
UnitedHealthcare's preferred relationship does not apply to members who
are 18 years old and younger, UnitedHealthcare Sierra Health and Life
Commercial members, as well as all Medicare Advantage members.
UnitedHealthcare will continue to cover supplies for all insulin pump
brands while in-warranty and still functioning properly. In 2015, the
Company shipped approximately 15,500 insulin pumps, of which
approximately 1,200 pumps were to people who would not have been
eligible for in-network coverage under UnitedHealthcare's new preferred
relationship.
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com)
is a medical device company with an innovative, user-centric and
integrated approach to the design, development and commercialization of
products for people with diabetes who use insulin. The Company
manufactures and sells the t:slim® Insulin Pump, the slimmest and
smallest durable insulin pump currently on the market, the t:flex®
Insulin Pump, the first pump designed for people with greater insulin
requirements, and the t:slim G4™ Insulin Pump, the first CGM-enabled
pump with touch-screen simplicity. Tandem is based in San Diego,
California.
Follow Tandem Diabetes Care on Twitter @tandemdiabetes, use #tslim,
#tslimG4, #tflex, #tconnect, and $TNDM.
Follow Tandem Diabetes Care
on Facebook at www.facebook.com/TandemDiabetes.
Follow
Tandem Diabetes Care on LinkedIn at https://www.linkedin.com/company/TandemDiabetes.
t:slim, t:flex and Tandem Diabetes Care are registered trademarks, and
t:slim G4 is a trademark of Tandem Diabetes Care, Inc.
Forward Looking Statement
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that
concern matters that involve risks and uncertainties that could cause
actual results to differ materially from those anticipated or projected
in the forward-looking statements. These forward-looking statements
relate to the anticipated impact of a decision by UnitedHealthcare to
designate Medtronic as their preferred, in-network durable medical
equipment provider of insulin pumps effective July 1, 2016 and the
ability of UnitedHealthcare members to purchase an insulin pump on an
in-network basis from Tandem Diabetes Care and other durable medical
equipment providers in the future. The actual impact may differ
materially from those indicated in these forward-looking statements due
to numerous risks and uncertainties. For instance, UnitedHealthcare may
further modify coverage decisions related to the Company's products at
any time, with little or no advance notice to the Company, and the
Company's understanding of the decision by UnitedHealthcare may not be
accurate or complete. In addition, it is possible that the pump
purchasing process, even for UnitedHealthcare members for whom this
preferred relationship does not apply, may be more difficult or
time-consuming than it has been historically, thereby increasing the
risk that sales of pumps to those customers will be delayed or
prevented, as well as other risks identified in the Company's most
recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and
other documents that the Company files with the Securities and Exchange
Commission. Investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Tandem undertakes no obligation to update or review any
forward-looking statement in this press release because of new
information, future events or other factors.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160503005767/en/
for Tandem Diabetes Care, Inc.
Media Contact:
Steve
Sabicer, 714-907-6264
ssabicer@thesabicergroup.com
or
Investor
Contact:
Susan Morrison, 858-366-6900 x7005
smorrison@tandemdiabetes.com
Source: Tandem Diabetes Care, Inc.
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