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Cheelcare Announces Medicare and Medicaid Services Reimbursement Approval for Companion Power Assist Device, Expanding U.S. Market Access
Investment Highlights: U.S. Medicare and Medicaid reimbursement eligibility achieved: The Co...
About this update from Cheelcare Inc.
[{"type":"text","content":"Cheelcare Announces Medicare and Medicaid Services Reimbursement Approval for Companion Power Assist Device, Expanding U.S. Market AccessInvestment Highlights:U.S. Medicare and Medicaid reimbursement eligibility achieved:The Company has received Pricing, Data Analysis, and Coding (\"PDAC\") verification, enabling U.S. Medicare and Medicaid reimbursement for its Companion power assist device. Companion is a best-in-class, front-mounted add-on for manual wheelchairs that provides motorized assistance, helping users enable a higher quality of life.Medicare and Medicaid funding removes a key barrier to customer adoption:Medicare reimbursement supports broader clinical recommendation of Companion and improves accessibility for wheelchair users by reducing reliance on private-pay funding.Builds on existing U.S. sales momentum:Prior to Medicare and Medicaid reimbursement, Companion sales in the U.S. gained traction through Veterans Affairs, Workers' Compensation, and private-pay channels, with recent periods of record sales indicating strong demand ahead of broader insurance coverage.U.S. distribution and manufacturing scale in place:With 300+ authorized dealers across the United States and operations now live at its new, 16,000 sq. ft. manufacturing facility (October 2025), Cheelcare is well positioned to support increased sales volumes.Foundation for more predictable revenue growth:Insurance-funded purchases are expected to accelerate adoption, improve revenue visibility, and support the Company's path to profitability as adoption expands within the U.S. market.Markham, Ontario--(Newsfile Corp. - January 26, 2026) - Cheelcare Inc. (TSXV: CHER) (\"Cheelcare\" or the \"Company\"), a Canadian innovator in advanced mobility solutions, announces that it has received Pricing, Data Analysis, and Coding (PDAC) verification for the Companion power assist device, confirming reimbursement eligibility.Cheelcare currently is represented by a growing network of over three hundred authorized dealers throughout the United States. Historically, adoption of Companion within this network has been primarily concentrated within Veterans Affairs (VA), Vocational Rehab, and Workers Compensation (WC) programs, due to the absence of Medicare and Medicaid reimbursement. This reimbursement represents a significantly larger addressable market, and the Company e...