Abiomed (NSDQ:ABMD) today announced that its Impella technology won reimbursement coding and payment from healthcare regulators in the Netherlands.
The Danvers, Mass.-based medical device company called the win a "significant milestone" for its flagship Impella device, which the company calls the "world’s smallest heart pump."
"We are encouraged that the Netherlands now provides reimbursement for Impella," Abiomed president & CEO Michael Minogue said in prepared remarks. "The World Health Organization ranks the Netherlands as one of the top healthcare systems globally, based upon measurements of the overall level and distribution of health, responsiveness, and financial contribution to healthcare services."
ABMD shares were up 1.2% to $22.24 as of about 11:55 a.m. today.
Minogue told analysts during a conference earlier this year that Abiomed expects to complete its Impella PMA submission to the FDA by the end of fiscal 2014. Minogue added that early indications suggest that the PMA could be granted without Abiomed having to run another clinical trial, citing its trove of data covering real-world use of the Impella pump.
