Valtech touts German reimbursement win for Cardioband

Valtech Cardio said Tuesday it won reimbursement in Germany for its Cardioband Mitral Reconstruction System designed to treat mitral regurgitation in heart failure patients.

The Cardioband system is composed of a reconstruction implant and a transfemoral, transseptal delivery system. The suture-less implant is connected to the mitral annulus using specially designed anchors, and the mitral annulus is reshaped under physiological conditions with echocardiographic guidance, the company said.

“Reimbursement in Germany represents yet another milestone for Valtech in expanding therapeutic options globally for patients experiencing mitral regurgitation. The Cardioband system is designed to offer a safe and effective catheter-based alternative to open heart surgery. Valtech is committed to developing a portfolio of catheter-based technologies to address the many complexities inherent in heart valve disease,” Valtech CEO Amir Gross said in a press release.

The German Neue Untersuchungs und Behandlungsmethoden Status 1 approval grants reimbursement for procedures with the device at 70 hospitals in Germany, the Israel-based company said.

Valtech won CE Mark approval in the European Union for the Cardioband last September.

Last month, HeartWare International (NSDQ:HTWR) backed out of its acquisition of Valtech and settled a proxy war with activist investor Engaged Capital. HeartWare proposed the buy of Valtech, which would have cost them $929 million, last September.