Upcoming AWS Coverage on STERIS Post-Earnings Results
LONDON, UK / ACCESSWIRE / February 3, 2017 / Active Wall St. blog coverage looks at the headline from Second Sight Medical Products, Inc. (NASDAQ: EYES) as the Company announced on February 02, 2017, that the German Institute for the Hospital Remuneration System has provided its full approval for the Epiretinal Prosthesis across 15 hospitals under the NUB1 innovation program. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.
One of Second Sight Medical Products' competitors within the Medical Appliances & Equipment space, STERIS PLC (NYSE: STE), announced on January 23, 2017, that it will conduct a conference call to discuss its Q3 FY17 financial results at 10:00 a.m. ET on Tuesday, February 07, 2017. AWS will be initiating a research report on STERIS in the coming days.
This decision allows approved hospitals to negotiate reimbursement coverage for treating patients with advanced stage Retinitis Pigmentosa (RP) with the Argus® II Retinal Prosthesis system, with statutory health insurance companies that covers more than 85% of German population. A NUB decision is valid for one year and can be renewed by application.
In Europe, Argus II is indicated for blind people suffering from advanced outer retinal degenerative diseases such as RP. RP is an inherited disease that often results in nearly complete blindness, affecting up to 30,000 Germans and 167,000 Europeans.
"This NUB renewal is a significant endorsement of the strong interest of German ophthalmologists to help blind patients restore some of their vision. We look forward to collaborating with leaders in the ophthalmic and patient community who are committed to help patients living with blindness as a result of severe diseases such as Retinitis Pigmentosa," said Will McGuire, President and CEO of Second Sight Medical Products.
What is Argus II® Retinal Prosthesis System?
Second Sight's Argus II System provides electrical stimulation that bypasses the defunct retinal cells and stimulates remaining viable cells inducing visual perception in individuals with severe to profound Retinitis Pigmentosa. The Argus II works by converting images captured by a miniature video camera mounted on the patient's glasses into a series of small electrical pulses, which are transmitted wirelessly to an array of electrodes implanted on the surface of the retina. These pulses are intended to stimulate the retina's remaining cells, resulting in the perception of patterns of light in the brain. The patient then learns to interpret these visual patterns, thereby regaining some visual function. The Argus II is the first artificial retina to receive widespread approval, and is offered at approved centers in Canada, France, Germany, Italy, Netherlands, Saudi Arabia, Spain, Switzerland, Turkey, UK, and the US.
Follows UK Proposal
On December 22nd, 2016, Second Sight announced that following a positive recommendation from advisors to the UK Government's healthcare funding authority for specialized services in England that, for the first time in the UK, the publicly-funded NHS system will fund blind patients with RP to receive treatment with the Argus® II Retinal Prosthesis System (Argus II) "bionic eye".
NHS England has announced that a selective group of severely blind patients with Retinitis Pigmentosa can have access to Argus II. There will be two implantation centers: The Manchester Royal Eye Hospital in the north of England, and in the south, London's Moorfields Eye Hospital. The hospitals and Second Sight will also provide follow up, rehabilitation and support to patients receiving an Argus II implant.
Argus II will be funded via the Commissioning through Evaluation (CtE) program. The CtE program is especially designed for treatments that show significant promise for the future, while new clinical and patient experience data are collected within a formal evaluation program. Argus II is already reimbursed under a similar "coverage with evidence development" program in France called "Forfait Innovation".
At the close of trading session on Thursday, February 02, 2017, following the announcement, Second Sight Medical Products' stock price climbed 4.08% to end the day at $1.53. A total volume of 525.12 thousand shares were exchanged during the session, which was above the 3-month average volume of 320.58 thousand shares. The stock currently has a market cap of $64.58 million.
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