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Biotech / Medical : LUNR (lunar corp)

LUNR 11.70

-2.7%

9:51 AM EDT

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To: GRC who wrote (21)	11/5/1997 9:45:00 AM
From: GRC	Read Replies (1) of 29

Here it is: Tuesday November 4 6:12 PM EST Company Press Release Lunar Corp. Announces Higher Medicare Reimbursement Rates for 1998 MADISON, Wis.--(BUSINESS WIRE)--Nov. 4, 1997--Lunar Corp. (NASDAQ:LUNR) announced today that Health Care Financing Administration (HCFA) published revised reimbursement rates for bone densitometry in the Oct. 31 Federal Register. Effective Jan. 1, 1998, the new rates will increase Medicare reimbursement for scans performed on axial densitometers from $120 to $131 and increase the rates for scans performed on peripheral densitometers from $38 to $69. Dr. Richard Mazess, president of Lunar Corp., noted that the latest HCFA proposal should eliminate confusion caused by an earlier HCFA proposal to lower the reimbursement rate for axial bone density scans to $50. Lunar offers a full line of bone densitometers including the DPX-IQ line of axial bone densitometers and the PIXI peripheral bone densitometer. Lunar has also submitted a PMA application in September to the Food and Drug Administration for approval to sell the Achilles ultrasound bone densitometer in the United States. Lunar develops products for the diagnosis and monitoring of osteoporosis and other diseases. The company develops and sells bone densitometers, which are specialized instruments used to aid in the diagnosis and monitoring of bone disease. The company also sells products for orthopedic imaging. Lunar is the exclusive United States distributor of the Artoscan Magnetic Resonance Imaging system, a dedicated extremity MRI device that sells for under $350,000. Lunar manufactures and sells the ORCA mini C-arm, a portable X-ray device used by surgeons to image extremities.

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