NeoChord receives German NUB status 1 for DS1000 mitral valve repair system

173

InEK, the German Institute for the Hospital Renumeration System, has granted the NeoChord DS1000 mitral valve repair system NUB (Neue Untersuchungs- und Behandlungsmethoden) status 1.

The NUB process enables the introduction of new medical products prior to formal reimbursement eligibility and introduces the cost of a new procedure, such as the DS1000, into the German reimbursement system. NUB Status 1 is the highest designated level for a new product and allows participating hospitals to negotiate with insurance providers for additional payment to cover the cost of procedures.

“This favourable decision from InEK represents an important step forward for our reimbursement strategy in Germany, and helps to establish the DS1000 as an accessible treatment option for patients struggling with degenerative mitral valve regurgitation,” states David Chung, president and chief executive officer, NeoChord. “After receiving the unique OPS-procedure code in 2015, and now, the NUB Status 1 designation, we are optimistic that we are well on our way toward establishing a unique DRG for the DS1000 procedure,” concludes Chung.

The company received CE market clearance in December 2012 for the DS1000 device for minimally invasive mitral valve repair of DMR with the implantation of artificial chordae tendinae on a beating heart. To date, over 350 patients have been treated for mitral valve regurgitation with the DS1000 system since its introduction.