* Aims to post sequential quarterly revenue growth
* Sees growing demand for CGM products
* Says reimbursement not a barrier to CGM adoption
* Expects to expand in Europe
By Anand Basu
BANGALORE, July 2 - Medical device maker DexCom Inc aims to post higher sequential revenue through each quarter of 2009 and expects to expand its presence in Europe.
"We continue to see demand for continuous glucose monitoring (CGM) growing despite the economy and are quite pleased with that growth opportunity," Chief Executive Terrance Gregg said in an interview.
The CGM systems, which DexCom markets under the Seven and Seven Plus brands, check for dangerous spikes or dips in blood sugar levels via a wire-like sensor inserted under the skin of diabetic patients, mainly Type 1 diabetics.
Such products are not yet covered broadly by insurance companies and depend heavily on reimbursement for higher adoption rates due to the cost associated with both the device and the sensors that need frequent replacement.
However, the company said it does not see the reimbursement environment threatening the adoption of its CGM systems as more insurers, like Aetna Inc and Cigna Corp, are now amending their policies to cover more patients.
"Two of the largest payers have actually amended their coverage decisions to be more comprehensive and allow more patients to receive coverage in reimbursement for the product over the last six to nine months," Gregg said.
However, patients may still have to go through a long documentation process to have their claims reimbursed by the insurers, DexCom Chief Administrative Officer Steven Pacelli said.
READY FOR EXPANSION
DexCom also plans to expand its presence outside the United States especially in Europe, its CEO said.
"We are currently in a couple of countries with the Seven system and as we receive CE mark on the Seven Plus system, our goal is to expand to a number of countries later this year," Gregg said.
In November, the company received the CE mark for its Seven system. CE mark is required to sell any product in the European Union.
Gregg said there were seven countries in Western Europe with reimbursement facility and the necessary infrastructure for the distribution of CGM products, but refused to comment on the revenue expectations from international operations. (Reporting by Anand Basu; Editing by Aradhana Aravindan)