BOSTON (Thomson Financial) - Shares of Abiomed Inc. rose slightly Friday
after the Danvers, Mass.-based provider of medical devices said it received
approval for national reimbursement coverage from the Centers for Medicare &
Medicaid Services (CMS) for AbioCor total replacement heart.
With this decision, CMS will now reimburse hospitals for the cost of the
AbioCor replacement heart and the cost of implanting the device as part of
coverage with evidence development.
The decision is the first positive coverage position CMS has taken since a
non-coverage determination was issued for artificial hearts in 1986.
Shares of Abiomed rose 1.2% to $15.20 on volume of 20,979 shares.
Casey Logan
cl/vj
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