The POWER KNEE achieves important reimbursement milestone
August 20 2012 - 3:12PM
PR Newswire (Canada)
QUEBEC, Aug. 21, 2012 /CNW Telbec/ - Ossur, a global leader in
non-invasive orthopedics, announced in its second-quarter report
that the POWER KNEE was accepted into the reimbursement system in
the U.S., effective as of January 2013. The allocation of the
reimbursement code by the Centers for Medicare & Medicaid
Services ("CMS") for the POWER KNEE is a very important milestone
and confirms the acceptance of bionic products as the next
generation of prosthetics. The reimbursement price has not yet been
determined. The allocation of the code is not expected to have any
material impact on sales of the POWER KNEE in 2012. "This is a
major commercial achievement for Ossur as CMS reimbursement is a
critical step toward adoption of the Power Knee. Victhom is very
proud that its collaboration with Ossur has generated such an
exceptional product that will significantly improve the quality of
life for above-knee amputees," stated Mr. Normand Rivard, President
& CEO of Victhom. Ossur is the world leader in bringing the
most innovative prosthetic solutions to market. Developed in
partnership with Victhom Human Bionics Inc., the POWER KNEE is the
world's first and only motor-powered, artificially intelligent
prosthesis for above-knee amputees that restores lost muscle
function and enables amputees to perform normal daily functions
without even thinking about their next movement. This breakthrough
provides unprecedented stability, safety and confidence for any
above-knee amputee. About Victhom Victhom is a company which owns
patents in the field of orthotics and prosthetics ("O&P"),
including intellectual property used in the Power Knee, the world's
first and only motor-powered prosthesis for above-knee amputees, a
product distributed under license agreement by Ossur, a global
leader in the O&P market. The Company also has a royalty
agreement related to the Neurostep(®) System and neuromodulation
products in other indications (sleep apnea and epilepsy) using the
Neurobionix technology platform currently under development by
Neurostream Technologies, a General Partnership now owned by Otto
Bock, a global leader in the O&P market. FORWARD-LOOKING
STATEMENTS Some of the statements made herein may constitute
forward-looking statements. These statements relate to future
events or our future financial performance and involve known and
unknown risks, uncertainties and other factors that may cause
Victhom's actual results, performance or achievements to be
materially different from those expressed or implied by any of
Victhom's statements. Actual events or results may differ
materially. We disclaim any intention, and assume no obligation, to
update these forward-looking statements. VICTHOM HUMAN BIONICS INC.
CONTACT: Source: Victhom Human Bionics Inc.For more information:
Normand RivardPresident & CEOVicthom Human Bionics Inc. Tel.:
(438) 380-5244 Fax: (438)
381-1530normand.rivard@victhom.comwww.victhom.com
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