Orthofix Medical (OFIX) shares were up 17% in Monday afternoon trading after the company said late Thursday it expects average Medicare reimbursement for non-invasive bone growth stimulators to return to rates prior to May 18.
Last Wednesday, the Centers for Medicare & Medicaid Services withdrew the reclassification of non-invasive bone growth stimulators from class III to class II devices that modified certain billing requirements and Medicare fee schedule treatment, the company said in a filing with the US Securities and Exchange Commission.
Price: 11.64, Change: +1.70, Percent Change: +17.05
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