TransEnterix Receives Senhance Reimbursement in Japan
Posted on August 01, 2019 by Medtech[y] Staff
After receiving Japanese regulatory approval in May for their Senhance Surgical System, TransEnterix announced today that Japan's Ministry of Health, Labour and Welfare (MHLW) expert review panel will provide Senhance reimbursement starting July 31, 2019.
This is welcome news for investors as Japan is the second-largest medical device market in the world, valued at over $40 billion annually, including over $5 billion in capital equipment spending. The country has more than 8,400 hospitals, of which approximately 80% are private entities. Additionally, Japan has the one of the most penetrated laparoscopic surgery markets in the world, giving the company an opportunity to gain immediate traction in already scheduled laparoscopic surgical cases.
“We are extremely pleased to have obtained reimbursement in Japan, which represents another critical milestone as we work to drive adoption of the Senhance globally,” said Todd M. Pope, TranEnterix President and CEO. “We view Japan as a significant opportunity as it is the world’s second-largest surgical robotics market, and we will continue to work to put our commercial infrastructure in place to support a successful commercial launch.”
The coverage applies to 98 benign and malignant laparoscopic procedures across general, colorectal, gynecologic, bariatric and urologic surgeries at reimbursement rates equivalent to traditional laparoscopy in Category A1.
TransEnterix has scheduled their second quarter earnings conference call for August 7, 2019.
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