New Category I CPT Codes for Impella Announced by American Medical AssociationDANVERS, Mass., Sept. 4, 2012 (GLOBE NEWSWIRE) -- Abiomed, Inc. (Nasdaq:ABMD), a leading provider of breakthrough heart support technologies, today announced it has received confirmation from the American Medical Association of three new Category I Current Procedure Terminology (CPT) codes for Impella® percutaneous technologies, effective January 2013.
The process for obtaining Category I CPT® codes for percutaneous ventricular assist devices began in 2011, under the leadership of the Society for Cardiac Angiography and Interventions (SCAI), the American College of Cardiology (ACC), and the Heart Rhythm Society (HRS), and was based on a thorough review of clinical efficacy in published, peer-reviewed literature and usage trends.
As forecasted by Abiomed, there are three individual new CPT codes created that will apply to the insertion, repositioning and removal of Impella percutaneous devices.
"The creation of these newly listed CPT codes, coupled with the updated clinical guidelines from November 2011 and recent PROTECT II publication in Circulation, is generating further momentum for Impella platform adoption," said Michael R. Minogue, Chairman, President and Chief Executive Officer, Abiomed.
In November 2012, SCAI, ACC and HRS will provide more details on the valuation and payment of the specific codes.
CPT® is a registered trademark of the American Medical Association, which develops and maintains CPT codes.
ABOUT ABIOMED
Based in Danvers, Massachusetts, Abiomed, Inc., is a leading provider of medical devices that provide circulatory support. Our products are designed to enable the heart to rest by improving blood flow and/or performing the pumping of the heart. For additional information please visit: www.abiomed.com
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FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements, including statements regarding expected patient outcomes, development of Abiomed's existing and new products, the Company's progress toward commercial growth, and future opportunities and expected regulatory approvals. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including uncertainties associated with development, testing and related regulatory approvals, including anticipated future losses, complex manufacturing, high quality requirements, dependence on limited sources of supply, competition, technological change, government regulation, future capital needs and uncertainty of additional financing, and other risks and challenges detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report filed on Form 10-K and most recently filed Quarterly Report on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.
