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IMPEDIMED LIMITED — Capital/Financing Update 2014
Nov 2, 2014
65135_rns_2014-11-02_e21ca6e2-3cd5-44a0-978d-9d590b875279.pdf
Capital/Financing Update
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03 November 2014
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ASX ANNOUNCEMENT
ImpediMed (ASX:IPD)
Medicare payment for new L-Dex[®] Category I code announced
ImpediMed (ASX:IPD) is pleased to announce today the Centers for Medicare and Medicaid Services (CMS) has published the valuation for CPT[®] Category I Code 93702 for the Company’s L-Dex procedure for the assessment of lymphoedema.
Beginning 1[st] January 2015, physicians and hospitals will be able to seek reimbursement for the L-Dex procedure through this new CPT Category I code. Under the US reimbursement regime, CMS has assigned a payment rate when billed by a hospital outpatient facility of $112.67.
Release of the valuation for the Category I code for L-Dex is another major reimbursement milestone, and should provide greater access for patients, facilitate claims processing and accelerate coverage from payers.
Mr Richard Carreon, CEO of ImpediMed said, “The publication of this CPT Category I code valuation is a significant milestone and will be central to driving market adoption of L-Dex. We are pleased that today’s announcement means that many US cancer patients will have access to this important test. Our targeted launch begins in January 2015 and we are now armed with both compelling clinical evidence and a simplified, standardised reimbursement environment for physicians.
Investor Conference Call
Investors are invited to join a conference call hosted by Richard Carreon, CEO on Monday 3[rd] November 11:30am AEDT.
To access the call please use the dial in details below:
Conference ID: 606 692
Conference Call Toll-Free Access Numbers
| Australia | 1800 558 698 | ||
|---|---|---|---|
| New Zealand | 0800 453 055 | Japan | 0053 116 1281 |
| China | 4001 200 659 | Singapore | 800 101 2785 |
| Canada | 1855 8811 339 | United Kingdom | 0800 051 8245 |
| Hong Kong | 800 966 806 | United States | 1855 8811 339 |
For all other locations please dial: +61 2 9007 3187
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For further information contact: Richard Carreon, ImpediMed CEO Morten Vigeland, ImpediMed CFO T: +1 (760) 585-2100
Kyahn Williamson, Buchan Investor and Media Relations T: +61 3 9866 4722 E: [email protected]
About ImpediMed
ImpediMed Limited is the world leader in the development and distribution of medical devices employing Bioimpedance Spectroscopy (BIS) technologies for use in the non-invasive clinical assessment and monitoring of fluid status. ImpediMed’s primary product range consists of a number of medical devices that aid surgeons, oncologists, therapists and radiation oncologists in the clinical assessment of patients for the potential onset of secondary lymphoedema. Pre-operative clinical assessment in cancer survivors, before the onset of symptoms, may prevent the condition from becoming a lifelong management issue and thus improve the quality of life of the cancer survivor. ImpediMed has the first medical device with an FDA clearance in the United States to aid health care professionals, clinically assess secondary unilateral lymphoedema of the arm and leg in women and the leg in men.
For more information, visit: www.impedimed.com.au
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