Alliqua’s MIST wound-care system eligible for Medicare coverage in FL, Caribbean territories

Alliqua BioMedical ($ALQA) announced its MIST ultrasound wound-care system is now covered by Medicare Administrative Contractor First Coast Service Options, which processes claims in Florida, Puerto Rico and the U.S. Virgin Islands.

First Coast, which is one of 8 regional Medicare contractors in the U.S., covers a region that represents more than 58,000 providers and about 2.9 million Medicare beneficiaries, the company said.

The FDA-approved MIST Therapy System uses a low-frequency ultrasound to stimulate cells below the wound bed to promote the healing process. With the addition of First Coast, Medicare coverage for MIST now includes all Medicare Administrative Contractors.

“I believe that our success in obtaining nationwide Medicare reimbursement coverage is largely attributable to the compelling portfolio of clinical support for our innovative MIST Therapy, which demonstrates the System’s effectiveness in accelerating the wound healing process,” Nino Pionati, chief strategy and marketing officer of Alliqua, said in a statement.

Langhorne, PA-based Alliqua picked up the MIST system in early 2015 when it shelled out $30.4 million to acquire Celleration in an effort to expand its presence in regenerative medicine.

A couple of months after the Celleration deal, Alliqua upped its exclusive licensing agreement with Celgene Cellular Therapeutics, a subsidiary of Celgene ($CELG), to add the right to develop and market the biopharma's connective tissue matrix (CTM) product.