From "GOMINER":
Biotech News 15 July 2003
Companies included today: VCR
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Ventracor Ltd (VCR)
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CMS delays decision on the reimbursement of VADs as destination therapy
The US Centers for Medicare & Medicaid Services (CMS) announced today that its decision on the
reimbursement of VADs as destination therapy will be delayed 30 days to allow additional time for agency
clearance. The due date is now August 13, 2003.
The Medicare Coverage Issues Manual (CIM) currently covers the use of Ventricular Assist Devices (VADs)
when used in accordance with FDA labeling, including support of circulation after cardiotomy and as a bridge to transplant for patients approved and listed for heart transplantation.
Medicare does not presently cover this device as an alternative to medical management in end-stage heart failure (ESHF) patients who are not eligible for
a heart transplant.
A request has been made to expand coverage to the use of VADs as destination (permanent) therapy for
ESHF patients who are not candidates for heart transplantation. MSAC recently voted in favour of the
resolution, and the final decision will be made by CMS next month.
If approved, the coverage should increase the use of VADs as a treatment option for patients with end
stage heart failure that are not elligable for a heart transplant. VCR is targeting this segment of the VAD
market.
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Thanks Gominer, a marvellous report!
If approved, then the share prices of existing companies must rise. That is because it will result in a vast increase of these produced devices.
Thus, take-over prices could rise also. While it will take some time before VCR will have their device on the market, an Approval must be a positive for the VCR share price as well.
It says that the due date is Aug 13 and we need to keep an eye on this.
Gerry
Please do your own research and you decide if and when to buy, hold or sell.
VCR
ventracor limited
