VidaMed has already received FDA approval. The Company expects to
receive a CPT code in January 1998. The CPT code will help accelerate
the reimbursement of TUNA procedures. A competitor of VIDA today
announced that the largest UK insurer approved reimbursement of its
system.
Read the press release carefully. I believe (totally unconfirmed)
that VidaMed's TUNA procedure was also approved for reimbursement.
"... will begin reimbursing providers using thermotherapy".
The coming months bode well for VIDA. The stock should run up
in anticipation of the CPT code. It is a bargain compared with
ULGX. Also it hasn't tied itself up with major distribution
agreements which may have prevented or detered an acquisition.
Largest Private U.K. Insurer To Reimburse For Targis(TM) System For BPH
MINNEAPOLIS, Sept. 22 /PRNewswire/ -- Urologix, Inc. (Nasdaq: ULGX), a rapidly emerging developer and marketer of minimally invasive medical products for the treatment of urological disorders, announced today that British United Provident Association (BUPA), the largest private health insurer in the United Kingdom, will begin reimbursing providers using thermotherapy, such as the company's Targis(TM) System, for the treatment of benign prostatic hyperplasia (BPH). BPH, commonly know as enlarged prostate disease, affects approximately
1.2 million men in the U.K.
"BUPA's decision to reimburse for thermotherapy gives urologists the opportunity to offer our Targis System to patients as an office-based treatment alternative for BPH that has demonstrated in rigorous clinical studies that it provides significant relief of BPH symptoms with little risk of complications," said Jack Meyer, president and chief executive officer of Urologix. "This decision is particularly significant because it reverses BUPA's previous position and authorizes reimbursement for thermotherapy for BPH. We believe this action is indicative of the high quality and integrity of the Targis System clinical results, which were a factor in the decision
making process."
The Targis System is a non-surgical, anesthesia-free, catheter-based therapy that uses a proprietary microwave technology for the treatment of BPH. Urologix has approval to market the Targis System in the 18 European Union countries, Canada, Japan, and most recently, the U.S. BUPA provides health insurance for approximately 48 percent of patients in the U.K. who maintain private health insurance.
"Obtaining reimbursement has been a major part of our Targis System market development activities in Europe," said Paul A. LaViolette, group president, Nonvascular Businesses for Boston Scientific Corporation, Urologix's distribution partner. "This complements our previous reimbursement progress in Germany and represents what we hope will be a trend throughout Europe in
securing reimbursement for the Targis System. We are encouraged by BUPA's recognition of the cost benefits of thermotherapy such as the Targis system, and are excited about providing a less invasive, office-based solution to urologists in the U.K. for their patients suffering from BPH."
SOURCE Urologix, Inc.
-0- 09/22/97 |
