Post by Deleted on Feb 1, 2018 14:06:24 GMT
German NUB Status 1 Designation for Neovasc Reducer™ Procedure for Treatment of Refractory Angina
CNW GroupFebruary 01, 2018
Participating Hospitals in Germany Now Eligible to Negotiate Reimbursement for Reducer Procedure
NASDAQ, TSX: NVCN
VANCOUVER , Feb. 1, 2018 /CNW/ - Neovasc, Inc. ("Neovasc" or the "Company") (NASDAQ, TSX: NVCN), a leader in the development of minimally invasive transcatheter mitral valve technologies, today announced that the "Institut für das Entgeltsystem im Krankenhaus" ("InEk"), the German Institute for the Hospital Remuneration System, has awarded its Neovasc Reducer™ ("Reducer"), a CE-Marked medical device for the treatment of refractory angina, NUB status 1 designation for 2018.
InEK, is responsible for prioritizing new therapies in Germany through the NUB process. Yesterday, InEK upgraded the status of the Neovasc Reducer from status 4 to status 1 - the highest priority designation available.
A NUB decision is valid for one year and can be renewed annually. The NUB process opens the path for negotiations between hospitals and health insurances on the reimbursement of new medical treatments in the German system. Based on the new NUB status 1 for the Neovasc Reducer, 107 German hospitals can now negotiate reimbursement coverage for the Neovasc Reducer therapy under the German health insurance system.
Fred Colen , CEO of Neovasc commented "This significant upgrade to the highest level in the German NUB status is an exciting development for the Reducer therapy in Europe . For many patients Angina remains a significant issue and many of them have limited treatment options today. This positive NUB development will allow additional patients suffering from refractory angina to be treated with the Reducer in Germany ."
About Reducer
The Reducer is CE-marked in the European Union for the treatment of refractory angina, a painful and debilitating condition that occurs when the coronary arteries deliver an inadequate supply of blood to the heart muscle, despite treatment with standard revascularization or cardiac drug therapies. It affects millions of patients worldwide, who typically lead severely restricted lives as a result of their disabling symptoms, and its incidence is growing. The Reducer provides relief of angina symptoms by altering blood flow in the heart's circulatory system, thereby increasing the perfusion of oxygenated blood to ischemic areas of the heart muscle. Placement of the Reducer is performed using a minimally invasive transvenous procedure that is similar to implanting a coronary stent and is completed in approximately 20 minutes.
About Neovasc Inc.
Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include the Reducer, for the treatment of refractory angina, which is not currently available in the United States and has been available in Europe since 2015, and the Tiara™ ("Tiara"), for the transcatheter treatment of mitral valve disease, which is currently under clinical investigation in the United States , Canada and Europe . For more information, visit: www.neovasc.com.
===================
C L