Bone Index Announces New U.S. Board Members

Bone Index Ltd., a digital healthcare diagnostics company with the game-changing hand-held osteoporosis diagnostics technology (Bindex® (1)), today announced that Mr. Michael Thomas, Dr. David J Soffa, Mr. Dave Brown and Ms. Marcee Chmait have been named to the Board of Directors.

Mr. Thomas has extensive experience as a CEO and Board Chairman in building, funding and growing innovative startups, early and growth stage medical device ventures, with three successful exits. “It is my pleasure to start as a Chairman of Board in Bone Index. Bindex® is a great example of leading preventative measurement technology which solves a significant need to improve osteoporosis outcomes in the U.S.” says Michael Thomas.

Dr. David J Soffa is a Fellow of the American College of Radiology. He is a physician executive with demonstrated success in leveraging years of imaging clinical practice with extensive background in provider and payer utilization management, health plan operations, healthcare regulation, accreditation and medical policy.  “Bindex® provides compelling clinical utility to clinicians. There is substantive, published clinical data with over a million patients scanned in the United States. Bindex offers healthcare providers a cost-effective tool to better manage this chronic disease at an earlier stage.” says Dr. Soffa.

Mr. Brown has 40 years of leadership experience within the California employee benefits community. His expertise is introducing care and cost management innovations to risk-bearing organizations. “Osteoporosis and bone health should be of interest to employers or those providing insurance to retirees. Now early, reliable screening and preventative actions to delay bone fractures are possible for the first time with Bindex® and the Bindex Total Bone Health® - program (2)” says David Brown.

Ms. Chmait has served in multiple roles within the health care industry for nearly 30 years. Currently she leads strategic partnerships and business development for the Digital Strategy and Innovation Group at Providence St. Joseph Health. Earlier, she was in Cambia Health Solutions as President & COO of SpendWell. “Bindex is a great example of a disruptive healthcare trend which will significantly improve value-based care and improve lives, particularly among the 50+ and Medicare segments.” says Marcee Chmait.

“We have estimated that the annual need for osteoporosis examinations in the U.S. is 14 million and that is our primary goal for the next few years.” says Bone Index's CEO, Dr. Ossi Riekkinen. “I truly believe that this team, along with previously selected board members Ms. Robin Raff and Mr. Jani Karotie, will expedite our company’s ability to achieve value-creating milestones for our patients, providers, and shareholders.  I am excited to welcome the new members to the Board on behalf of Bone Index.”

Undiagnosed osteoporosis is a worldwide challenge. In the U.S. alone, osteoporosis is responsible for two million broken bones every year, costing over 19 billion dollars. Experts forecast that by 2025, the costs will rise to 25.3 billion dollars. One of the biggest challenges is the limited availability of osteoporosis diagnostics, since bone density scans are mostly performed in hospitals with large DXA X-ray machines that entail high costs. “The overall aim is to prevent osteoporotic fractures, improve surgical outcomes, and improve the quality of life for families in the United States,” says Dr. Riekkinen.

For more information: 
Dr. Ossi Riekkinen, CEO, Bone Index Ltd., Dallas, TX
ossi.riekkinen@boneindex.fi , Tel: 469.805.5419, www.bindex.us, www.totalbonehealth.com

1) The Bindex® point-of-care device measures the cortical bone thickness of the tibia and the algorithm calculates the Density Index, a parameter that estimates bone mineral density at the hip as measured with DXA. Bindex® detects osteoporosis with 90% sensitivity and specificity.

American Medical Association has issued a new reimbursement code for Bindex® and the Centers for Medicare & Medicaid Services (CMS) has approved coverage for the code in several settings.

CPT Code, 0508T: Pulse-echo ultrasound bone density measurement resulting in indicator of axial bone mineral density, tibia.

www.bindex.us

2) Bindex Total Bone Health® is the world's first science-based, personalized fracture prevention program to build strong bones and improve stability along with tailored nutritional improvements. This program is for all gyms and fitness programs which provide services for the 50+ population, specifically those on Medicare.

www.totalbonehealth.com

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Bone Index Finland Ltd. Savilahdentie 14, 70700 Kuopio, FINLAND • tel. +358 50 448 1696 • info(at)boneindex.fi