NanoKnife System Receives OPS Procedure Classification Codes in Germany
(Thomson Reuters ONE) -
ALBANY, N.Y., Oct. 28, 2014 (GLOBE NEWSWIRE) -- AngioDynamics (Nasdaq:ANGO), a
leading provider of innovative, minimally invasive medical devices for vascular
access, surgery, peripheral vascular disease and oncology, today announced the
Germany Ministry of Health has issued an OPS (a procedure classification code)
for the company's NanoKnife System. This process is the first step in securing
reimbursement for new medical technologies in Germany.
Currently, there are seven NanoKnife systems in Germany, used primarily in
patients who suffer from liver, prostate, kidney and lung cancers. Use of the
system is usually paid for by the patient or the costs are picked up through a
research grant at a university hospital. Being granted an OPS is an important
step in the universal acceptance of a medical technology.
"The issuance of the OPS by the German Ministry of Health is an enormous
advancement in the successful implementation of the NanoKnife technology in the
German market," said Rick Stark, Senior Vice President of AngioDynamics' Global
Oncology/Surgery Franchise. "With OPS in-hand, the Ministry can now document the
technology's benefits and determine an appropriate level of reimbursement
according to German Diagnosis Related Groups (G-DRGs) for a variety of specific
procedures."
Eleven new OPS Codes have been introduced, including: bile ducts, 5-513.44;
bone, 5-789.9; liver, 5-501.7; lung, 5-339.22; stomach, 5-433.7; adrenal gland,
5-073.42; kidney, 5-552.9; esophagus, 5-422.7; prostate 5-601.8; pancreas,
5-521.3; and rectum 5-482.e.
"The inclusion of the IRE-Procedures for different types of tissue into the
German OPS-Catalogue highlights the relevance of this novel treatment method,"
added Dr. Philipp Wiggerman, of University Hospital in Regensburg, Germany.
The pathway to a reimbursement code for a medical device in Germany can take a
year or more as it requires multiple agency filings and support from each
scientific society that treats specific disease states. The G-DRG for NanoKnife
is expected by January 1, 2015, with reimbursement occurring as early as April
2015 as facilities go through their individual applications for reimbursement.
About AngioDynamics
AngioDynamics Inc. is a leading provider of innovative, minimally invasive
medical devices used by professional healthcare providers for vascular access,
surgery, peripheral vascular disease and oncology. AngioDynamics' diverse
product lines include market-leading ablation systems, fluid management systems,
vascular access products, angiographic products and accessories, angioplasty
products, drainage products, thrombolytic products and venous products. More
information is available at www.AngioDynamics.com.
Trademarks
AngioDynamics, the AngioDynamics logo and NanoKnife are trademarks and/or
registered trademarks of AngioDynamics Inc., an affiliate or a subsidiary.
Safe Harbor
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements regarding
AngioDynamics' expected future financial position, results of operations, cash
flows, business strategy, budgets, projected costs, capital expenditures,
products, competitive positions, growth opportunities, plans and objectives of
management for future operations, as well as statements that include the words
such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes,"
"seeks," "estimates," "optimistic," or variations of such words and similar
expressions, are forward-looking statements. These forward looking statements
are not guarantees of future performance and are subject to risks and
uncertainties. Investors are cautioned that actual events or results may differ
from AngioDynamics' expectations. Factors that may affect the actual results
achieved by AngioDynamics include, without limitation, the ability of
AngioDynamics to develop its existing and new products, technological advances
and patents attained by competitors, future actions by the FDA or other
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and capital market conditions, general market conditions, market acceptance,
foreign currency exchange rate fluctuations, the effects on pricing from group
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integrate purchased businesses, including Navilyst Medical and its products, R&D
capabilities, infrastructure and employees as well as the risk factors listed
from time to time in AngioDynamics' SEC filings, including but not limited to
its Annual Report on Form 10-K for the year ended May 31, 2014. AngioDynamics
does not assume any obligation to publicly update or revise any forward-looking
statements for any reason.
In the United States, the NanoKnife System has received a 510(k) clearance by
the Food and Drug Administration for use in the surgical ablation of soft
tissue, and is similarly approved for commercialization in Canada, the European
Union and Australia. The NanoKnife System has not been cleared for the treatment
or therapy of a specific disease or condition.
CONTACT: Company Contact:
AngioDynamics Inc.
Mark Frost, CFO
(800) 772-6446 x1981
mfrost(at)AngioDynamics.com
Investor Relations Contacts:
EVC Group, Inc.
Michael Polyviou/Robert Jones
(212) 850-6020; (646) 201-5447
mpolyviou(at)evcgroup.com; bjones(at)evcgroup.com
Media Contact:
EVC Group, Inc.
Dave Schemelia
(646) 201-5431
dave(at)evcgroup.com
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Source: AngioDynamics via GlobeNewswire
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Datum: 28.10.2014 - 11:30 Uhr
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News-ID 347372
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