Laborie's Optilume® Issued Category 1 CPT Code by American Medical Association

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Nov 07, 2022, 07:54 ET

The approval represents an important milestone in establishing the reimbursement pathway for this novel technology in the U.S.

PORTSMOUTH, N.H., Nov. 7, 2022 /PRNewswire/ -- Laborie Medical Technologies Corp (Laborie), a specialist medical technology company, announced today that the American Medical Association (AMA) has issued the new Category 1 Current Procedural Terminology (CPT®) code 5X000 to report cystourethroscopy with mechanical urethral dilation and therapeutic drug delivery via coated balloon. The new code is applicable to services that physicians perform with the company's Optilume Urethral Drug Coated Balloon, a first-of-its-kind technology for the treatment of patients with urethral stricture.

Optilume's paclitaxel-coated balloon technology combines mechanical dilation for immediate symptomatic relief with local drug delivery to maintain urethral patency. The technology was developed in response to patient and physician dissatisfaction with current endoscopic solutions for urethral strictures. It provides a durable, cost effective, minimally invasive treatment option for millions of patients suffering from these conditions globally.

"We are pleased to hear the AMA Editorial Panel's decision. The new code will expand Optilume's presence at patient sites of care, creating a pathway for widespread adoption and reimbursement," said Michael Frazzette, President & CEO of Laborie. "Importantly, it will provide patients with greater access to this treatment."

Beginning January 1, 2024, providers will be able to report the new CPT code for Optilume. Created and maintained by the AMA, CPT codes are widely recognized by public and private health insurance payers in the United States to describe healthcare services and procedures to facilitate reimbursement.

About Laborie Medical Technologies

Headquartered in Portsmouth, New Hampshire, Laborie is a global medical technology company focused on Urology, Urogynecology, Gastroenterology, Obstetrics, Gynecology & Neonatal Health. We manufacture and deliver high-quality, high-impact diagnostic and therapeutic products that help clinicians and hospitals preserve and restore patient dignity. Clinicians and hospitals look to us as the market-leading experts in our business segments, and we support our products with a world-class Clinical Education & Information program. Laborie is a portfolio company of Patricia Industries. For more information visit www.laborie.com.

About Patricia Industries

Patricia Industries, a part of Investor AB, invests in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. We invest with an indefinite holding period and partner with great management teams to create value for people and society by building strong and sustainable businesses.

About Investor AB

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high-quality, global companies. We have a long-term investment perspective. Through our board participation, industrial experience, global network and financial strength, we work continuously to support our companies to remain or become best-in-class.

SOURCE Laborie Medical Technologies