Stimwave Technologies Receives Reimbursement Authorization in Germany
POMPANO BEACH, Fla.--(BUSINESS WIRE)--Today Stimwave Technologies announced that it has received additional reimbursement authorization in Germany, one of the Company’s largest commercial markets outside of the United States.
The German Institute for Hospital Remuneration (InEK) has granted Stimwave Technologies’ Freedom PNS and SCS products Status 1 designation under its NUB funding process. Being designated NUB Status 1 entitles hospitals in Germany that submitted a NUB application to negotiate reimbursement in addition to DRG payment with statutory health insurers. These designations are based on the InEK’s belief that Stimwave Technologies’ chronic pain management products are innovative medical devices, that previously lacked sufficient payment.
“Chronic pain is a global challenge that impacts millions of patients and their families. The need for patients to have access to an innovative solution to manage pain without incremental surgical intervention or opioid use has never been greater,” said Chris Valois, Chief Marketing and Strategy Officer. “We are very excited about the decision from the German government for this additional reimbursement authorization. We believe this will have a material positive impact on our ability to help more patients get relief from their chronic pain, and we look forward to working with physicians, hospitals, and payors in Germany to make that a reality.”
The Company’s Freedom PNS and Freedom SCS products have received CE Mark certifications as well as FDA 510(k) clearances, and both products are commercially available in Europe and the United States.
About Stimwave Technologies Incorporated
Stimwave Technologies is a medical device company that develops, manufactures, and markets, neuromodulation products. Its Peripheral Nerve Stimulation (PNS) and Spinal Cord Stimulation (SCS) products are implanted technology that block pain signals to the brain and provide a drug-free alternative for treating patients suffering from chronic pain. Stimwave Technologies’ Freedom Systems, the SCS and PNS products, provide a unique and innovative technology with an HF-EMC wireless energy transfer from an external transmitter and antenna to the implanted electrode array and separate receiver. Stimwave Technologies’ FDA-cleared product portfolio can treat nerves from the neck down that are causing pain. Stimwave Technologies’ principal place of business is in Pompano Beach, Florida and it operates worldwide through its operating subsidiaries. For more information, please visit https://stimwavefreedom.com/.
Mike Vallie, ICR Westwicke