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Covalon's ColActive Plus Receives Medicare Billing Codes in Advance of the Symposium on Advanced Wound Care in Denver

ACCESSWIRE

MISSISSAUGA, Ontario - May 1, 2013 - /Newswire/ - Covalon Technologies Ltd. (the "Company" or "Covalon") (COV.V), an advanced medical technologies company, today announced its Collagen Matrix Dressings, ColActive(R) Plus and ColActive(R) Plus Ag have been assigned Healthcare Common Procedure Coding System (HCPCS) codes for Medicare billing. Covalon's ColActive Plus line of collagen wound dressings are used for treatment of chronic wounds, including diabetic foot ulcers, and have been marketed and sold in the United States and elsewhere since 2005.

In February of this year, Medicare Pricing, Data Analysis and Coding (PDAC) announced that for claims with dates of service on or after June 1, 2013, the only products which may be billed to Medicare using the Collagen Dressing Codes are those for which a written coding verification has been made by the PDAC contractor and are listed on the Product Classification List in the Durable Medical Equipment Coding System (DMECS) maintained on the PDAC web site www.dmepdac.com/dmecsapp/do/search.1

"The timing of this announcement is significant because it means our customers and the healthcare professionals who use HCPCS codes for DME billing will continue to be reimbursed after June 1st when using ColActive Plus" said Brian Pedlar, Covalon's Chief Executive Officer. "There are a limited number of Collagen Wound Dressings that have been re-approved and we expect this to be a topic of discussion at SAWC in Denver."

SAWC is the largest annual gathering of wound care clinicians in the United States. The symposium provides an opportunity for Covalon to showcase its wound care products to more than 2,000 physicians, podiatrists, nurses, therapists, and researchers and over 200 leading wound care product manufacturers, wholesalers and distributors are expected to attend the 2013 Spring SAWC meeting.

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Covalon will also be showcasing its portfolio of advanced dressing technologies, including the recently FDA cleared line of antimicrobial silicone based adhesive dressings, IV Clear and SurgiClear, both of which have already received HCPCS codes for their respective categories. These exciting new products are available for immediate licensing or distribution.

To learn more about Covalon's products and services, please visit us at booth 841 in the Colorado Convention Center from May 1-5 or contact Brian Pedlar, CEO, Covalon Technologies Ltd. at bpedlar@covalon.com.

1.https://www.dmepdac.com/resources/articles/2013/02_25_13.html

For further information please contact:

Brian Pedlar

CEO, Covalon Technologies Ltd.

Email: bpedlar@covalon.com

Phone: 905.568.8400 x 233

Toll free: 1.877.711.6055

Fax: 905.568.5200

Web site:www.covalon.com

Twitter:@covalon

About Covalon

Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.