Regenerative medicine company Orthocell (ASX:OCC) has announced that its Remplir has been added to the federal government's Prostheses List (PL).
Its addition to the PL makes Remplir eligible for reimbursement by private health insurers for peripheral nerve repair procedures.
According to Orthocell managing director Paul Anderson, “Inclusion of Remplir on the Prostheses List is the culmination of translational research and a regulatory program to bring this product to the Australian market. I am delighted that patients now have access to a premium nerve repair device that has been designed, manufactured and now reimbursed in Australia.”
Orthocell said the Australian addressable market for nerve repair and reconstruction is significant, with 11,7801 surgical repairs of peripheral nerves completed in public and private hospitals in 2019-20.
The company said it believes Remplir will become the market-leading nerve repair device, with uptake driven by the surgeon’s preference for high-quality, easy-to-use devices that reduce the need for damaging sutures and facilitates better patient outcomes.
The Company is well-positioned to achieve further international approvals for Remplir in nerve repair. Inclusion on the Prostheses List follows Australian market approvals for Remplir™ medical device in March 2022, and the appointment of
Device Technologies was recently appointed as the exclusive distributor of Remplir across Australia and New Zealand.