VertiFlex Announces Two Significant Reimbursement Milestones To Expand Market Opportunity For Superion Interspinous Spacer

AMA CPT^® Editorial Panel Approves Category I Code for Interspinous Spacers and CMS Adds Interspinous Spacers to List of Ambulatory Surgery Center Covered Surgical Procedures

SAN CLEMENTE, Calif.--(BUSINESS WIRE)--VertiFlex^®, Inc., a leading innovator of advanced minimally invasive interventions for spinal stenosis, announced today that the AMA CPT^® Editorial Panel has approved the addition of Category I CPT codes to describe one and two level insertion of interspinous spacers at their October 2015 meeting. The new Category I codes will replace the existing Category III CPT codes effective January 1, 2017.

“We are pleased with both decisions from the AMA and CMS to dramatically strengthen coding and broaden coverage for interspinous spacer procedures”

Further, the company has announced that the Centers for Medicare and Medicaid Services (CMS) has added the insertion of interspinous spacers to their list of approved surgical procedures in Ambulatory Surgery Centers, effective January 1, 2016.

“We are pleased with both decisions from the AMA and CMS to dramatically strengthen coding and broaden coverage for interspinous spacer procedures,” said Earl R. Fender, President and Chief Executive Officer of VertiFlex, Inc. “The transition to a Category I code will erase the longstanding uncertainty associated with coverage and payment of Category III codes for facilities, physicians, and patients. The inclusion of Superion’s minimally invasive procedure in ASCs will afford Medicare beneficiaries increased access to care. Both of these important reimbursement milestones will dramatically expand the market opportunity for Superion, for spine specialty physicians.”

Dr. Porter McRoberts of Holy Cross Orthopedic Institute remarked, “Like many of my colleagues, I’m excited by the prospect of offering our patients access to this promising technology in the ambulatory surgery environment. This procedure, when performed in an ASC, has the potential for significant savings in cost, and presents our patients with an opportunity to be treated effectively in a less demanding and time-consuming manner than in the hospital environment.”

The Superion Interspinous Spacer System is a minimally invasive spinal implant designed to treat moderate lumbar spinal stenosis. Once in place, it is intended to reduce pressure on the affected nerves and allow patients to return to a more active lifestyle. Superion received FDA PMA Approval in May 2015 and has been implanted in over 2000 patients worldwide.

About VertiFlex, Inc.

VertiFlex is a privately held medical device company dedicated to the advancement of minimally invasive solutions for the treatment of lumbar spinal stenosis, which is the leading cause of spinal surgery in the elderly. Founded in 2005 and headquartered in San Clemente, CA, VertiFlex has developed proprietary, minimally invasive technologies for performing both indirect and direct decompressions of the lumbar spine. These procedures fill the gap in the stenosis treatment continuum between conservative care and traditional spine surgery, providing new options for interventional spine physicians and less invasive options for traditional spine surgeons. To date, VertiFlex has compiled the largest, most rigorous body of device clinical evidence related to lumbar spinal stenosis.

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