Second Sight Medical Products Inc. announced that the German health care system has approved reimbursement coverage for the Argus II Retinal Prosthesis system in certain hospitals throughout the country.
The device produced by the Sylmar medical manufacturer restores limited vision to the blind utilizing an implant and camera.
The German Institute for the Hospital Remuneration System, the government-formed nonprofit that made the decision, was established to improve the health care system by managing billing of hospital services and reimbursement rates. The agency renewed the Argus II’s approval status at 15 German hospitals, allowing the hospitals to negotiate reimbursement coverage for the device when treating patients with retinitis pigmentosa and other impairments.
“We look forward to collaborating with leaders in the ophthalmic and patient community who are committed to help patients living with blindness as a result of severe diseases such as retinitis pigmentosa,” Second Sight Chief Executive Will McGuire said in a statement.
Across the globe, more than 215 Argus IIs have been implanted with approximately 35 in Germany.
Second Sight announced the approval Thursday. Shares closed Friday up 4 cents or 2.6 percent to $1.57 on the Nasdaq.