SAN RAMON, Calif., Feb. 6, 2018 /PRNewswire/ -- BioVentrix, Inc., a pioneer of technologies and procedures for less invasive treatment of heart failure (HF), today announced a significant reimbursement achievement. InEk, the German Institute for Hospital Remuneration, has reconfirmed the award of NUB Status 1 for the Revivent TC™ TransCatheter Ventricular Enhancement System.
The NUB process recognizes select innovative medical devices for reimbursement support in Germany. It enables participating hospitals to receive full reimbursement for the product and a supplemental payment when utilizing groundbreaking technologies not listed in the existing German healthcare system. NUB Status 1 is the highest priority designation available, and was only assigned to a handful of innovative technologies in 2018. Revivent TC achieved this status for the second consecutive year.
"Attaining NUB Reimbursement Status 1 for a second time is a testament to the impact Revivent TC is having in the German heart failure community. The number of hospitals applying for coverage of Less Invasive Ventricular Enhancement (LIVE) procedures with the Revivent TC system more than doubled. This large increase in product adoption demonstrates the existing therapy gap and growing need for clinically impactful, less invasive, and cost effective HF treatment options," stated Kenneth Miller, President and Chief Executive Officer of BioVentrix, Inc. "We will continue to partner with German heart failure centers who wish to provide this novel therapy to patients who have limited options available to treat their left ventricular dysfunction."
About BioVentrix and the Revivent TC System
BioVentrix, a privately held medical technology company headquartered in San Ramon, Calif., is focused on developing and commercializing minimally invasive therapies for treating HF. The company recently received CE mark certification for its closed-chest Revivent TC TransCatheter Ventricular Enhancement System for plication of scar tissue in post-MI, ischemic cardiomyopathy patients. Placement of the Revivent TC System via the LIVE procedure obviates the need for more invasive surgery. Instead, small titanium anchors are placed along the outer surface of the heart and along one of the interior walls via a catheter-based approach. The anchors are then pulled towards one another, effectively excluding the scarred and non-functioning heart wall. Ventricular volume is immediately reduced as a result of the exclusion, by as much as 30-40 percent1.
Note: The Revivent TC System is approved for sale in Europe; it is not approved for sale in the United States.
1Wechsler, A. et al., Clinical benefits twelve months after less invasive ventricular restoration operations without ventriculotomy. Annual meeting of the European Society of Cardio-Thoracic Surgery, 07 Oct. 2013, Vienna, Austria.
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SOURCE BioVentrix, Inc.