Senseonics shares jump 6.7% on new insurance coverage for continuous glucose monitor

Shares of medical technology company Senseonics Holdings Inc.
SENS,
+8.05%
gained 6.7% premarket on Friday after the company announced that UnitedHealth Group Inc.’s
UNH,
+1.12%
UnitedHealthcare, a major health insurer, would provide coverage of its implantable continuous glucose monitoring system. The coverage of the Eversense E3 CGM System will start July 1 for people with type 1 and insulin-requiring type 2 diabetes, Senseonics said in a release. “With the addition of UnitedHealthcare, we are nearing all insured adults in the United States having access” to the system, Senseonics president and CEO Tim Goodnow said in a statement. Senseonics shares are down 38% in the year to date, while the S&P 500
SPX,
+1.33%
has gained 9.9%.