Second Sight Announces Final 2019 Medicare Hospital Outpatient Payment Rate for the Argus II Retinal Prosthesis System
November 06 2018 - 3:01PM
Second Sight Medical Products, Inc. (NASDAQ:EYES) (“Second
Sight” or the “Company”), a developer, manufacturer and marketer of
implantable visual prosthetics that are intended to create an
artificial form of useful vision for blind individuals, today
announced that the Centers for Medicare & Medicaid Services
(CMS) has finalized its Medicare hospital outpatient payment rate
of $152,500 for the Argus® II Retinal Prosthesis System (Argus II)
and the associated surgical implantation procedure for calendar
year 2019.
“We are delighted to have received CMS’ final 2019 outpatient
payment rate, which provides Medicare patients continued access to
our life changing technology. We are also happy to see the change
in methodology that considers multiple years of historic data when
setting a rate for a low volume device such as Argus. We believe
this change will temper future year-to-year fluctuations in the
reimbursement rate,” said Will McGuire, President and Chief
Executive Officer of Second Sight.
About Second Sight Second Sight Medical
Products, Inc. (NASDAQ: EYES) develops, manufactures and markets
implantable visual prosthetics that are intended to deliver useful
artificial vision to blind individuals. A recognized global leader
in neuromodulation devices for blindness, the Company is committed
to developing new technologies to treat the broadest population of
sight-impaired individuals.
Second Sight’s Argus® II Retinal Prosthesis System is the only
FDA and CE Mark approved device for treating retinitis pigmentosa,
with proven implant durability of multiple years. In 2016, the
Company published five year results. Today, several Argus II
devices have been implanted and continue to be operational in
humans for more than 10 years. The Company is developing the Orion®
Visual Cortical Prosthesis which is intended to provide useful
artificial vision to individuals who are blind due to various
causes. The Company’s U.S. headquarters are in Los Angeles, and
European headquarters are in Lausanne, Switzerland. More
information is available at www.secondsight.com.
Safe Harbor
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange and Exchange
Act of 1934, as amended, which are intended to be covered by the
“safe harbor” created by those sections. All statements in this
release that are not based on historical fact are “forward looking
statements.” These statements may be identified by words such as
“estimates,” “anticipates,” “projects,” “plans,” “goal,” or
“planned,” “seeks,” “may,” “will,” “expects,” “intends,”
“believes,” “should,” and similar expressions, or the negative
versions thereof, and which also may be identified by their
context. All statements that address operating performance or
events or developments that Second Sight expects or anticipates
will occur in the future, such as stated objectives or goals, or
that are not otherwise historical facts, are forward-looking
statements. While management has based any forward-looking
statements included in this release on its current expectations,
the information on which such expectations were based may change.
Forward-looking statements involve inherent risks and uncertainties
which could cause actual results to differ materially from those in
the forward-looking statements, as a result of various factors
including those risks and uncertainties described in the Risk
Factors and in Management’s Discussion and Analysis of Financial
Condition and Results of Operations sections of our Annual Report,
on Form 10-K, filed on March 20, 2018 and Form 10-Q, filed on
August 7, 2018, and our other reports filed from time to time with
the Securities and Exchange Commission. We urge you to consider
those risks and uncertainties in evaluating our forward-looking
statements. We caution readers not to place undue reliance upon any
such forward-looking statements, which speak only as of the date
made. Except as otherwise required by the federal securities laws,
we disclaim any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained
herein (or elsewhere) to reflect any change in our expectations
with regard thereto, or any change in events, conditions, or
circumstances on which any such statement is based.
Investor Relations Contacts:
Institutional Investors
In-Site Communications, Inc. Lisa Wilson, President T:
212-452-2793E: lwilson@insitecony.comor Individual InvestorsMZ
North AmericaGreg Falesnik, Managing DirectorT: 949-385-6449E:
greg.falesnik@mzgroup.us
Media Contacts: Nobles Global Communications Laura Nobles or
Helen Shik T: 617-510-4373 E: Laura@noblesgc.comE:
Helen@noblesgc.com
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