Neovasc’s Reducer Granted German Reimbursement Renewal

February 1, 2023—Neovasc, Inc. announced that the German Institute for the Hospital Remuneration System (InEK) has awarded NUB Status 1 designation for 2023 for the company’s Reducer device.

InEK is responsible for prioritizing new therapies in Germany through the NUB process. NUBs are new examination and treatment methods comprised of novel and innovative medicines, medical products, and procedures that can be utilized by hospitals before reaching full reimbursement eligibility.

The Neovasc Reducer has received CE Mark approval for the treatment of refractory angina.

According to the company, the NUB process opens the path for negotiations between hospitals and health insurers for the reimbursement of new medical treatments in the German health care system.

The Reducer has been granted Status 1, which is the highest priority designation available. The NUB decision is valid for 1 year and can be renewed annually. For 2023, 329 German hospitals applied for the Reducer NUB. In 2022, 256 hospitals applied. They can now negotiate full reimbursement coverage for the Reducer therapy, advised Neovasc.