Osteopore’s products will be incorporated into  the Australian Prostheses List in November, providing access to private health insurance holders.

Osteopore (ASX:OSX) announced that all its products currently listed for use under the Australian Register of Therapeutic Goods (ARTG) will be formally included into the Prostheses List on the 25th November 2022.

The Australian Prostheses List is an official list of implantable devices eligible for reimbursement from all private health insurance funds, as set out in the Private Health Insurance Act 2007.

Being incorporated into the Prostheses List means that any Australian citizen with private healthcare coverage can be reimbursed when they use Osteopore products.

As such, inclusion into the list is expected  to remove barriers for Osteopore products when doctors and surgeons  recommend the best available prostheses for these patients.

It’s estimated that half of all patients in Australia are treated in the private system, so being included in the Prostheses List is crucial to Osteopore’s commercial success in the country.

 

Demand for prostheses is growing

Osteopore says that its products underwent a rigorous application and review process to be incorporated onto the list.

“Demand for prostheses has been growing due to population ageing, chronic health conditions and the introduction of new technologies,” says Osteopore’s executive chairman, Mark Leong.

“We are very happy to be included onto the Australian Prostheses List as we can provide our implants to patients with private healthcare insurance at a fully reimbursed price.

“This could drive more sales in the future,” he added.

Osteopore believes that its bone and tissue implant could potentially reduce the overall healthcare costs of patients.

Its patented technology fabricates specific micro-structured scaffolds for bone regeneration through 3D printing and bioresorbable material.

These scaffolds are made from proprietary polymer formulations that naturally dissolve over time to leave only natural, healthy bone tissue.

Using this technology can significantly reduce post-surgery complications commonly associated with permanent bone implants.

 

This article was developed in collaboration with Osteopore, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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