Decision Benefits Patients with Chronic Wounds

NEWPORT NEWS, Virginia (February 22, 2013) – Beginning this month, Blue Cross Blue Shield of Michigan, a nonprofit network of 158 hospitals and approximately 30,000 doctors, will provide coverage for the use of TheraSkin®, a real skin therapy that effectively treats chronic wounds. This decision dovetails with the mission of this insurer to ensure a higher quality of health care for its 5.5 million subscribers, about 40% of the state, while simultaneously reducing the cost of care.

“We applaud the decision by Blue Cross Blue Shield of Michigan to cover this limb and life-saving product, ” said Kerry McCarter, CEO of Soluble Systems, LLC, the parent company of TheraSkin, explaining that Michigan residents with diabetic and venous leg ulcers will now have access to cost-effective living cell therapy. Patients who have particularly benefited from the wound healing capabilities of TheraSkin are those with diabetes.

“Diabetics are likely to develop foot ulcers, which are often extremely difficult to heal,” explained McCarter. “When all else fails, these patients are involved in nearly two-thirds of all non-traumatic lower limb amputations each year.” TheraSkin clinical results demonstrate the potential to save many patients from these life-threatening lower limb amputations by effectively closing over 60% of previously “non-healing” diabetic and venous ulcers in 12 weeks.

“We will work tirelessly with the medical institutions and practitioners in the BCBS network to help implement the clinical and economic benefits of TheraSkin,” said Allan Staley, president of Soluble Systems. The Company recently hired three Michigan-based representatives to work to support TheraSkin.

TheraSkin is not only clinically effective, but economical, costing 50 – 70% less than competing biologically active products, saving patients and payers thousands of dollars per treatment. A potent new weapon in the battle against rising healthcare costs, TheraSkin has the potential to save patients and the U.S. healthcare system more than $1 billion over the next decade.

TheraSkin is a biologically active cryo-preserved human skin allograft for non-responsive chronic wounds. Its fully developed extracellular matrix (ECM) and living cells provide an “at-ready” supply of human growth factors, cytokines and collagen to jumpstart wound healing. Like competing biologically active skin substitutes, TheraSkin provides necessary growth factors and cytokines to treat chronic wounds; however, it also provides a large quantity of essential human collagens in appropriate ratios to support healing.