Pacific Edge (NZX, ASX: PEB) has requested a trading halt to ensure investors are fully informed of draft proposals by Novitas, the Medicare Administrative Contractor (MAC) with jurisdiction for Pacific Edge’s US laboratory, that have the potential to disrupt the reimbursement of Cxbladder in the US.
The proposals, which go against US legal requirements, would mean Cxbladder tests would no longer be eligible for Medicare reimbursement.
Pacific Edge has presented its initial concerns to Novitas and will work with the CMS and its contractors to make the necessary changes to ensure that there is no disruption to coverage.
The company will update shareholders as it progresses this matter.
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