Itamar Medical Ltd. (TASE:ITMR) has obtained US American Medical Association (AMA) CPT Category 1 insurance indemnification code for the company WatchPAT 200 portable diagnostic device for sleep apnea.
Insurance indemnification will be $600-1,500 per test. Itamar added, however, that it believes that an error occurred regarding the amount of indemnification, and it has asked the AMA to review the matter, if necessary.
The AMA indemnification code applies to medical procedures covered by Medicare and Medicaid, which currently covers 14% of the US population.
In a separate development, Itamar Medical signed a new two-year distribution agreement with a Japanese distributor for its EndoPAT cardiovascular diagnostic device. The distributor will seek Japanese National Health Insurance (NHI) indemnification for the device.
Itamar Medical's share price rose 2.4% by mid-afternoon to NIS 1.93, giving a market cap of NIS 250 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 2, 2011
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