GERMANTOWN, Md. & CHESTERFIELD, Mo. - Senseonics Holdings (NYSE:SENS), Inc. (NYSE American: SENS), a developer of implantable continuous glucose monitoring (CGM) systems for diabetes management, has announced a partnership with Mercy, a significant U.S. health care system. This collaboration introduces the Eversense CGM technology across Mercy's network, marking a first in the health system's diabetes population management program.
The Eversense Remote Patient Monitoring (RPM) program is designed to improve patient outcomes and reduce hospitalizations by enabling better diabetes management through continuous glucose monitoring. The program, which is set to begin with patient device placements in July, will initially be launched in St. Louis-area communities, with a broader rollout across Mercy's regions in Missouri, Kansas, Arkansas, and Oklahoma continuing into 2025.
An estimated 30,000 of Mercy's 3 million annual patients could benefit from the Eversense CGM system. Mercy's decade-long experience in remote patient monitoring for various conditions positions it to effectively integrate this new technology into its patient care strategies.
Dr. Jeff Ciaramita, President of Mercy specialty service lines, emphasized the transformative potential of the Eversense RPM program for both patients and providers. The program aims to support timely interventions, thereby improving patient health and reducing avoidable hospitalizations.
Senseonics' President and CEO, Tim Goodnow, PhD, highlighted the partnership with Mercy and Ascensia as a comprehensive approach to enhancing diabetes care. He also mentioned the potential addition of future products, including a next-generation 365-day implantable CGM system expected later this year.
The Eversense CGM system is FDA-approved for use up to 180 days, offering an alternative to fingerstick blood glucose measurements. The addition of the Eversense RPM solution aims to provide patients with ongoing coaching and guidance, contributing to improved diabetes management outcomes.
Mercy's commitment to incorporating innovative technologies for patient care is underscored by its recognition as one of America's Most Innovative Companies by Fortune magazine in 2023. This collaboration with Senseonics is a continuation of Mercy's mission to enhance patient care and operational efficiencies.
This news is based on a press release statement and does not include any additional commentary or speculative information.
InvestingPro Insights
As Senseonics Holdings, Inc. (NYSE American: SENS) partners with Mercy to roll out its Eversense CGM system, the company's financial health and market performance are key factors for investors. The latest data from InvestingPro provides insights into Senseonics' current market position:
- The company's market capitalization stands at $240.46 million, reflecting investor valuation of the firm in the context of its new partnership.
- With a Price to Earnings (P/E) ratio of -4.24 and an adjusted P/E for the last twelve months as of Q4 2023 at -4.0, Senseonics is currently not profitable, which aligns with analysts' expectations that the company will not be profitable this year.
- Despite these challenges, the company's revenue growth is notable, with a 36.62% increase in the last twelve months as of Q4 2023, suggesting that its products and services are gaining traction in the market.
InvestingPro Tips suggest that Senseonics holds more cash than debt on its balance sheet, which could provide financial flexibility in its operations and expansion efforts. However, the company is quickly burning through cash, which could raise concerns about long-term sustainability. Investors might also note that Senseonics does not pay a dividend, which could be a factor for those seeking income-generating investments.
For those interested in a deeper dive into Senseonics' financials and future outlook, InvestingPro offers additional insights. There are currently 9 more InvestingPro Tips available for Senseonics, which could provide a more nuanced understanding of the company's potential. Interested readers can access these tips at InvestingPro and use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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