Osprey Medical (ASX: OSP) has initiated commercial activities in Europe with plans to gain reimbursement for its DyeVert Plus System through the UK's National Health Service (NHS).
Osprey Medical said it has engaged with the leading UK market access consultancy, Device Access UK, to begin market access activities.
It will work to secure a positive market access recommendation from the UK's National Institute for Health and Care Excellence (NICE).
NICE’s role is to provide guidance to the NHS and hospitals on the adoption of safe, and clinically cost-effective medical technologies. The is expected to take approximately 12 months.
According to Michael Branagan-Harris, president of Device Access, “Osprey Medical’s DyeVert Plus System has proven results in the US market. Given the high rate of Acute Kidney Injury (AKI) and clinical interest in finding a solution to this problem within the NHS, it makes strategic and economic sense that the DyeVert Plus System is supported by the NHS and is fully adopted and implemented in the routine care of NHS CKD patients undergoing endovascular heart procedures.”
Osprey said it is also working with UK distributor CardioLogic as part of its commercial strategy to access leading heart centers in the UK.
"We are pleased to be working with Device Access and CardioLogic," said Osprey president Mike McCormick.
"AKI, which can be caused by contrast dye use in heart imaging procedures, costs the UK hospital system £1.02billion annually, or about one per cent of the NHS yearly budget. This alone shows that if the DyeVert Plus System were introduced to the UK market to impact AKI rates, it will have substantial health and economic benefits.”