60% of the Medicare population now has access to Kerecis Shield in private doctors’ clinics

Kerecis, the company pioneering the use of sustainably sourced fish-skin and fatty acids in cellular therapy, tissue regeneration and protection, has received approval from Palmetto GBA for the Kerecis Shield™ private doctors’ clinics fish-skin product range. The approval makes the product eligible for Medicare Part B coverage across Alabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia and West Virginia.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240716475356/en/

Kerecis Silicone Fish-Skin Combination for Wound Healing Receives Approval from Palmetto Insurance Group (Photo: Business Wire)

This recent approval means that 4 of the 7 insurance companies administering Medicare plans across the US have set a fee schedule for the Shield product line, providing improved and more timely patient access to treatment with Kerecis medical-fish-skin treatments. Now, 60% of the Medicare population enjoys access to Kerecis Shield.

For physicians operating in private clinics, this means that invoices will not need to be submitted for reimbursement, improving efficiency by eliminating a step in the reimbursement process.

The Kerecis Shield product range for private doctors’ clinics, announced in April 2023, integrates the Kerecis medical-fish-skin graft with a silicone contact layer. The product range consisting of Shield Standard, Shield Adhesive and Shield Spiral, is designed for managing chronic and acute wounds such as diabetic foot ulcers, pressure ulcers, vascular ulcers, post-Moh's surgical wounds, and draining wounds.

“This additional insurance coverage for our Kerecis Shield product line means that about 60% of Medicare patients now have access to this latest fish-skin treatment, up from around 40%,” said Fertram Sigurjonsson, founder and CEO of Kerecis. “200 million Americans already have insurance coverage for our Kerecis MariGen portfolio of medical-fish-skin products. This new coverage for our new Kerecis Shield product allows more private clinics to provide their patients with the new, sophisticated treatments they require.”

About Kerecis

Kerecis was founded by Fertram Sigurjonsson to develop 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 supports the body’s own processes to heal and regenerate. 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® and Shield™, which are sold to healthcare facilities to treat chronic wounds such as diabetic wounds, as well as post-Moh's surgery 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. Kerecis is part of Coloplast, the leading global supplier of intimate healthcare products. For more information, visit https://www.kerecis.com.

About Palmetto

Palmetto GBA is one of the nation's largest providers of high-volume claims and transaction processing, contact center operations and technical services to the federal government and other commercial customers.

Trademarks and registered trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240716475356/en/