Press release from GlobeNewswire (a Nasdaq OMX company)
Abiomed Announces Publication of Protect II Cost Effectiveness Study in American Health & Drug Benefits Journal
Wednesday, May 01, 2013
Abiomed Announces Publication of Protect II Cost Effectiveness Study in American Health & Drug Benefits Journal05:00 EDT Wednesday, May 01, 2013
DANVERS, Mass., May 1, 2013 (GLOBE NEWSWIRE) -- Abiomed, Inc. (Nasdaq:ABMD), a leading provider of breakthrough heart support technologies, today announced the publication of the PROTECT II Cost Effectiveness Study in the American Health & Drug Benefits (AHDB) journal, titled "A Value-Based Analysis of Hemodynamic Support Strategies for High-Risk Heart Failure Patients Undergoing a Percutaneous Coronary Intervention."
The study demonstrated a gain in quality of life for Impella patients over the current standard of care, the intra-aortic balloon pump (IABP), at an incremental cost-effectiveness ratio (ICER) of $39,389/QALY (Quality Adjusted Life Year), well below the $100,000/QALY threshold commonly used in the United States or the $50,000/QALY threshold of dialysis.
PROTECT II was the first multicenter, randomized trial comparing non-emergent use of hemodynamic support in patients with depressed left ventricular function and complex anatomy that analyzed both the clinical and economic benefits of hemodynamic support. The clinical trial outcomes data and actual billing data from patients were modeled over ten years using a Markov Model to derive the ICER/QALY.
"This study indicates that new, minimally invasive technologies like Impella provide the opportunity for increased quality care and shared savings opportunities for all stakeholders. As the heart failure population proliferates, decision-makers will need to understand and balance the short-term costs of procedures versus the long-term costs for ongoing care," said David Gregory, MPA, FACHE, author of the study and Executive Vice President and Partner, Presscott Associates - A Division of ParenteBeard, LLC.
"We are very excited about the continued expansion of compelling cost-effectiveness data for the Impella platform, which helps providers and payers navigate the evolving landscape of health care reform," said Michael R. Minogue, Chairman, President and Chief Executive Officer of Abiomed.
The American Health & Drug Benefits (AHDB) is an independent, peer-reviewed journal founded in 2008 on the concept that health and drug benefits have undergone a transformation: the econometric value of a therapy is currently of equal importance to clinical outcomes as it is to serving as the basis for coverage decisions and benefit designs.
The publication of this PROTECT II Cost Effectiveness study is one of several published or presented data sets from 2012-2013 that all demonstrate the cost effectiveness of Impella.
Based in Danvers, Massachusetts, Abiomed, Inc., is a leading provider of medical devices that provide circulatory support. Our products are designed to enable the heart to rest by improving blood flow and/or performing the pumping of the heart. For additional information please visit: www.abiomed.com
This release contains forward-looking statements, including statements regarding development of Abiomed's existing and new products, the Company's progress toward commercial growth, and future opportunities and expected regulatory approvals. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including uncertainties associated with development, testing and related regulatory approvals, including the potential for future losses, complex manufacturing, high quality requirements, dependence on limited sources of supply, competition, technological change, government regulation, litigation matters, future capital needs and uncertainty of additional financing, and other risks and challenges detailed in the Company's filings with the Securities and Exchange Commission, including the most recently filed Annual Report on Form 10-K and quarterly report on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.
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