The POWER KNEE achieves important reimbursement milestone
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.
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.
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.
SOURCE: VICTHOM HUMAN BIONICS INC.For further information:
Source: Victhom Human Bionics Inc.