Announcement at UBS Australia Annual Healthcare Conference Underscores Watermark’s Leadership in Providing Diagnostics in a Virtual Environment
BOCA RATON, Fla.--(BUSINESS WIRE)-- Watermark Medical, Inc. (“Watermark”), the leader in Health Information Technology for managing chronic diseases, has signed a national contract with UnitedHealthcare, a division of UnitedHealth Group (NYSE:UNH), to provide home sleep testing service for the diagnosis of obstructive sleep apnea (OSA). The agreement, the first national partnership for Watermark, establishes the foundation for a greater focus on delivering diagnostic testing in a home-based environment for patients and a greater savings in longer-term healthcare.
Under the new multiyear agreement, Watermark will work directly with the UnitedHealthcare physician network to diagnosis patients in the comfort and convenience of their own home at a fraction of the cost of a traditional in-lab sleep study. Watermark will deliver these services through its Mail-to-Patient division, supporting physicians not currently providing home sleep diagnostics for their patients. Physicians in UnitedHealthcare’s network, who are not doing home sleep testing in their office, can refer patients with symptoms of OSA to Watermark and the company will ship their diagnostic test directly to the patient.
“Watermark’s partnership with UnitedHealthcare will provide a better, convenient experience for their customers at a lower cost than a traditional sleep lab,” said Sean Heyniger, CEO of Watermark Medical. Speaking to analysts at the UBS Australia Annual Healthcare Conference this week, he added, “Our Watermark SleepCare Platform ensures a simplified delivery platform for physicians that maintains the clinical integrity of a sleep lab and provides the board-certified results that are compliant with AASM regulations. We are thrilled UnitedHealthcare can now offer this to their customers.”
About Watermark Medical:
Watermark Medical, Inc. Is a privately held healthcare information technology company focused on improving the clinical outcomes of patients with chronic diseases. Watermark pioneered cloud-based HST for Obstructive Sleep Apnea by allowing primary care physicians to become the point of care for diagnostic testing. Its co-founders are serial entrepreneurs with a track record of building successful information technology companies and sales channels for medical service companies. Information technology management company CA Technologies (NASDAQ: CA) is Watermark’s largest investor. Currently, Watermark has a national direct sales force of more than 30 sales representatives covering all 50 states and approximately 2,000 distribution sales representatives. The company is headquartered in Boca Raton, FL.
UnitedHealthcare is dedicated to helping people nationwide live healthier lives by simplifying the health care experience, meeting consumer health and wellness needs, and sustaining trusted relationships with care providers. The company offers the full spectrum of health benefit programs for individuals, employers and Medicare and Medicaid beneficiaries, and contracts directly with more than 650,000 physicians and care professionals and 5,000 hospitals nationwide. UnitedHealthcare serves more than 38 million people and is one of the businesses of UnitedHealth Group, a diversified Fortune 50 health and well-being company.
About UnitedHealth Group:
UnitedHealth Group (NYSE: UNH) is a diversified health and well-being company dedicated to helping people live healthier lives and making health care work better. With headquarters in Minnetonka, Minn., UnitedHealth Group offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services. Through its businesses, UnitedHealth Group serves more than 75 million people worldwide. Visit About UnitedHealth Group at www.unitedhealthgroup.com for more information.
JR Finkelmeier, 561-283-1247
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