Independent Publication Reports Neovasc Reducer™ Demonstrates Cost Savings
February 04 2022 - 8:05AM
via NewMediaWire -- Neovasc, Inc. (Neovasc or
the Company) (NASDAQ, TSX: NVCN) today announced the
publication of cost-effectiveness studies supporting the use of the
Neovasc Reducer™ (“Reducer”).
The two analyses, authored by Americo Cicchetti,
Graduate School of Health Economics and Management (ALTEMS) at the
Catholic University of Sacro Cuore, Rome, included a budget impact
analysis and a cost-utility analysis. The evaluations, both of
which were positive for the Reducer therapy, considered direct
healthcare costs from the perspective of the National Health
Service in Italy. The budget impact analysis examined a five-year
timeframe, while the cost-utility analysis utilized a "lifetime"
horizon.
Quality of life measures
- The budget impact analysis and cost-utility model each
demonstrated that the Reducer therapy can lead to an increase in
the quality of life in patients with refractory angina.
Cost effectiveness measures
- In the cost-utility analysis, the Reducer therapy
received the best possible outcome, a dominance profile, meaning
the intervention is not just cost-effective, but cost-saving for
the healthcare system.
- In the budget impact analysis, the higher initial costs
due an initial ramp in Reducer implants are adequately compensated
in the short term by the better clinical outcomes, with consequent
savings for the National Health Service in Italy starting in year
four.
The authors highlight the growing number of
patients suffering from persistent and disabling symptoms of angina
– in part due to the advances in pharmacological and interventional
fields that have prolonged the survival of patients.
Dr. Fabrizio Oliva, Director of Cardiology and
Interventional Cardiology, Niguarda Hospital, Milan, and
President-elect of the Italian National Association of Hospital
Cardiologists, commented, “We see patients with refractory angina
frequently. A therapy that improves quality of life and is less
costly to implement is highly unusual and should be highlighted.
The data are particularly relevant in the context of strong budget
constraints in many countries – a constraint that has been
exacerbated by the COVID pandemic.”
“The data from the ALTEMS analyses are
particularly relevant because patients with refractory angina have
limited treatment options, and they tend to place a hefty financial
burden on healthcare systems,” commented Fred Colen, President and
Chief Executive Officer of Neovasc. “The new Italian publication
builds upon our previously reported cost-effectiveness data and
recent reimbursement wins in the United Kingdom, France, Germany,
and the United States and it demonstrates fantastic progress
against our objectives.”
About Reducer
The Reducer is CE-marked in the European Union and
being studied in the United States in the COSIRA-III clinical trial
for the treatment of refractory angina, a painful and debilitating
condition that occurs when the coronary arteries deliver an
inadequate supply of blood to the heart muscle, despite treatment
with standard revascularization or cardiac drug therapies. It
affects millions of patients worldwide, who typically lead severely
restricted lives as a result of their disabling symptoms, and its
incidence is growing. The Reducer provides relief of angina
symptoms by altering blood flow within the myocardium of the heart
and increasing the perfusion of oxygenated blood to ischemic areas
of the heart muscle.
Refractory angina, resulting in continued symptoms
despite maximal medical therapy and without revascularization
options, is estimated to affect 600,000 to 1.8 million Americans,
with 50,000 to 100,000 new cases per year.
About Neovasc Inc.
Neovasc is a specialty medical device company that
develops, manufactures, and markets products for the rapidly
growing cardiovascular marketplace. Its products include Reducer,
for the treatment of refractory angina, which is not currently
commercially available in the United States and has been
commercially available in Europe since 2015, and Tiara™ for the
transcatheter treatment of mitral valve disease, which is currently
under clinical investigation in the United States, Canada, Israel
and Europe. For more information, visit: www.neovasc.com.
Contacts
Investors:
Mike Cavanaugh
ICR Westwicke
Phone: +1.617.877.9641
Email: Mike.Cavanaugh@westwicke.com
Media:
Sean Leous
ICR Westwicke
Phone: +1.646.866.4012
Email: Sean.Leous@westwicke.com
Forward-Looking Statement
Disclaimer
Certain statements in this news release contain
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws that may not be based on historical fact. When used
herein, the words "expect", "anticipate", "estimate", "may",
"will", "should", "intend," "believe", and similar expressions, are
intended to identify forward-looking statements. Forward-looking
statements may involve, but are not limited to, the results of the
cost-effectiveness studies, the growing incidence of
refractory angina and the growing cardiovascular marketplace.
Forward-looking statements are based on estimates and
assumptions made by the Company in light of its experience and its
perception of historical trends, current conditions and expected
future developments, market and other conditions as well as other
factors that the Company believes are appropriate in the
circumstances. Many factors could cause the Company's actual
results, performance or achievements to differ materially from
those expressed or implied by the forward-looking statements,
including those described in the "Risk Factors" section of the
Company's Annual Information Form and in the Management's
Discussion and Analysis for the three and nine months ended
September 30, 2021 (copies of which may be obtained
at www.sedar.com or www.sec.gov). These factors
should be considered carefully, and readers should not place undue
reliance on the Company's forward-looking statements. The Company
has no intention and undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
Neovasc (NASDAQ:NVCN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Neovasc (NASDAQ:NVCN)
Historical Stock Chart
From Jul 2023 to Jul 2024