- Neovasc’s (NVCN) Reducer system for refractory angina has received its first national reimbursement from England’s National Health Service
- The NHS included the Reducer in the High-Cost Tariff Excluded Devices national catalogue, a purchase and supply system for medical devices
- Hospital providers can now order the Reducer and bill the cost of the device directly to the NHS
- The Reducer is CE-marked in the European Union for the treatment of refractory angina
- The device provides relief by altering blood flow and increasing the perfusion of oxygenated blood in the heart
- Neovasc is a specialty medical device company that develops, manufactures and markets products for the cardiovascular marketplace
- Neovasc (NVCN) closed the day up by 5.22 per cent trading at $1.21 per share
Neovasc’s (NVCN) Reducer system for refractory angina has received its first national reimbursement from England’s National Health Service.
The NHS included the Reducer in the High-Cost Tariff Excluded Devices (HCTED) national catalogue, a purchase and supply system for medical devices designed to support the accelerated adoption of effective new technologies.
Hospital providers can now order the Reducer and bill the cost of the device directly to the NHS.
The Reducer is CE-marked in the European Union for the treatment of refractory angina, a debilitating condition that occurs when the coronary arteries deliver inadequate blood supply to the heart, despite treatment with standard revascularization or cardiac drug therapies.
The device provides relief by altering blood flow within the heart’s myocardium and increasing the perfusion of oxygenated blood to ischemic areas of the heart.
Placement involves a minimally invasive transvenous procedure that lasts approximately 20 minutes.
The U.S. FDA granted the Reducer a Breakthrough Device designation in October 2018. The designation is granted to devices with potential to provide a more effective treatment of life-threatening or irreversibly debilitating diseases.
Professor Jonathan Hill, MD, Consultant Interventional Cardiologist at Royal Brompton & Harefield NHS Foundation Trust, London, commented,
“The clinical data on Reducer therapy, much of it developed in the U.K., continues to demonstrate efficacy and excellent safety. Inclusion in the HCTED catalogue is an important step for Reducer therapy and will help new centers to begin utilizing the device. This is good news for the many patients suffering from refractory angina in the U.K.”
Fred Colen, President and CEO of Neovasc, added,
“Expanding reimbursement for Reducer to enable broader market access has been a cornerstone of the value creation strategy at Neovasc. We are pleased with the NHS decision that follows the positive American Medical Association decision to establish a new Category III CPT code to report the transcatheter implantation of a coronary sinus reduction device. We are honored that the NHS has assessed the Reducer as an effective new therapy for patients.”
Neovasc is a specialty medical device company that develops, manufactures and markets products for the cardiovascular marketplace.
Neovasc (NVCN) closed the day up by 5.22 per cent trading at $1.21 per share.
