Last checked at 29 Nov 2021 07:01
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Belluscura PLC
("Belluscura" or the "Company" or "Group")
Reimbursement approval from U.S. Centers for Medicare & Medicaid Services (CMS)
X-PLO2R™ portable oxygen concentrator now covered by two Medicare reimbursement codes
LONDON, U.K. AND PLANO, TX, U.S. (29 November 2021). Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces that the Medicare Administrative Contractor Palmetto GBA MolDx ("Palmetto") has issued a final local coverage determination for the X-PLO2R™ portable oxygen concentrator ("X-PLO2R"). Weighing only 3.25 lbs (1.5kg), the X-PLO2R is the world's first portable modular oxygen concentrator.
Medicare reimbursement covers approximately 50% of the oxygen concentrator market in the US. The Board believes the approval of the two reimbursement codes will have a positive impact on the Company and expects to update shareholders on the full year outcome for FY21 in early January 2022.
Robert Rauker, CEO of Belluscura plc, commented: "Receiving the two Medicare reimbursement codes should further expand access and the use and distribution of the X-PLO2R throughout the US. We believe many Medicare patients will ask their health care providers and durable medical equipment providers to issue them with the lightweight X-PLO2R."
For further information please contact:
Belluscura plc | www.belluscura.com |
Robert Rauker, Chief Executive Officer | via Walbrook PR |
Anthony Dyer, Chief Financial Officer | |
SPARK Advisory Partners Limited (NOMAD) | Tel: +44 (0)20 3368 3550 |
Neil Baldwin | |
Dowgate Capital Limited (Broker) | Tel: +44 (0)20 3903 7715 |
James Serjeant / Nicholas Chambers | |
Walbrook PR Ltd (Media & Investor Relations) | Tel: +44 (0)20 7933 8780 or belluscura@walbrookpr.com |
Paul McManus / Sam Allen | Mob: +44 (0)7980 541 893 / +44 (0)7502 558 258 |
About Belluscura plc (www.belluscura.com)
Belluscura is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health and economic outcomes for the patients, healthcare providers and insurance organisations.