Neovasc (NVCN) Announces Neovasc Reducer System Receives National Reimbursement in France

Neovasc Inc. (NASDAQ: NVCN) today announced that the Neovasc Reducer™ (“Reducer”) system has been granted Prise en Charge Transitoire (“PECT”) reimbursement in France by the national health authority, Haute Autorité de Santé (“HAS”). The decision will be officialized upon publication in the French Journal Officiel.

The Reducer is the first therapy to be approved under the newly established PECT process. It is designed to allow patients with significant illnesses and no other therapeutic options to benefit from novel therapies for select indications. The national approval is for a period of one year, and it can be renewed.

Prof. Martine Gilard, past President of the French Society of Cardiology and Director of Interventional Cardiology, Brest University Hospital, France, commented, “This is positive news for patients suffering from refractory angina in France. The clinical data on Reducer therapy continue to demonstrate efficacy and an excellent safety profile. It is a strong message from HAS that the very first therapy approved under the innovative PECT process is the Reducer. This authorization is a major step for Reducer therapy and will help new centers in France to begin utilizing the device.”

“One pillar of Neovasc’s value creation strategy is to expand reimbursement for Reducer to enable broader market access. The HAS decision builds upon the recent reimbursement expansion in the United Kingdom, as well as the positive American Medical Association decision to establish a new Category III CPT code for coronary sinus reduction procedures in the United States,” stated Fred Colen, President and Chief Executive Officer of Neovasc. “We look forward to expanding our presence in France to support the new reimbursement decision.”

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