Cheelcare Announces Medicare and Medicaid Services Reimbursement Approval for Companion Power Assist Device, Expanding U.S. Market Access

Executive Summary

• Cheelcare Inc. received PDAC verification, confirming that its Companion power‑assist device is eligible for reimbursement under U.S. Medicare and Medicaid (HCPCS code E0986).
• The approval removes a major financing barrier, enabling broader clinical recommendation and accelerating sales across the company’s 300+ authorized U.S. dealers.
• Recent record sales in Nov–Dec 2025 demonstrate strong market demand; the company expects insurance‑funded purchases to drive more predictable revenue growth and support its path to profitability.

Key Details

• PDAC Verification: Pricing, Data Analysis, and Coding (PDAD) verification obtained, allowing Medicare & Medicaid billing for Companion.
• HCPCS Code: Reimbursement will be billed under HCPCS code E0986.
• Dealer Network: Over 300 authorized dealers throughout the United States are positioned to sell the reimbursable device.
• Manufacturing Capacity: New 16,000 sq ft. U.S. manufacturing facility (operational Oct 2025) ready to support increased volume.
• Commercial Momentum: Record assisted‑device sales achieved in November and December 2025, indicating strong demand ahead of broader insurance coverage.
• Revenue Impact: Insurance‑funded purchases expected to accelerate adoption, improve revenue visibility, and contribute to profitability goals.

Notable Quotes

“PDAC approval of a product is a critical step that most DME dealers require… This approval confirms that dealers may bill Medicare for Companion under HCPCS code E0986, which is expected to reduce financial barriers…” – Allan Boyd, Vice President of Growth, Cheelcare

“This approval marks an important milestone for Cheelcare… Together, these efforts position us well to capitalize on the growth and demand we expect to see as a result of this major development.” – Eugene Cherny, Chief Executive Officer, Cheelcare