NeoChord Again Awarded NUB Status 1 In Germany

More than 350 patients treated by company’s Beating Heart Chordal Repair System

ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--NeoChord, Inc., a leader in advancing the treatment of minimally invasive repair of degenerative mitral regurgitation (DMR), announced today that InEK GmbH, the Institute for the Hospital Remuneration System, has assigned NUB (Neue Untersuchungs- und Behandlungsmethoden) Status 1 for the NeoChord DS1000™ Mitral Valve Repair System.

“This favorable decision from InEK represents an important step forward for our reimbursement strategy in Germany and helps to establish the DS1000 as an accessible treatment option for patients struggling with degenerative mitral valve regurgitation”

The NUB process enables the introduction of new medical products prior to formal reimbursement eligibility and introduces the cost of a new procedure, such as the DS1000, into the German reimbursement system. NUB Status 1 is the highest designated level for a new product and allows participating hospitals to negotiate with insurance providers for additional payment to cover the cost of procedures.

“This favorable decision from InEK represents an important step forward for our reimbursement strategy in Germany and helps to establish the DS1000 as an accessible treatment option for patients struggling with degenerative mitral valve regurgitation,” stated David Chung, President and Chief Executive Officer, NeoChord, Inc. “After receiving the unique OPS-procedure code in 2015, and now, the NUB Status 1 designation, we are optimistic that we are well on our way toward establishing a unique DRG for the DS1000 procedure,” concluded Mr. Chung. The Company received CE market clearance in December 2012 for the DS1000 device for minimally invasive mitral valve repair of DMR with the implantation of artificial chordae tendinae on a beating heart. To date, over 350 patients have been treated for mitral valve regurgitation with the DS1000 system since its introduction.

About NeoChord, Inc.

Based in St. Louis Park, Minnesota, NeoChord, Inc. is a privately held medical technology company leading the advancement of minimally invasive repair of DMR. Mitral regurgitation is a progressive disease that can result in atrial fibrillation, congestive heart failure, and death when left untreated. For more information, visit: www.NeoChord.com.

The NeoChord DS1000 System is CE marked and approved for sale in Europe.
CAUTION: The NeoChord device is not available for use in the United States.