11:23 AM EDT, 08/19/2024 (MT Newswires) -- Therma Bright ( TBRIF ) on Monday said its Venowave VW5 received a permanent Healthcare Common Procedure Coding System (HCPCS) code from the U.S. Department of Health & Human Services' Centers for Medicare and Medicaid Services.

The Venowave VW5 device, used to combat deep-vein thrombosis and other conditions, will have a complete patient buyout option for a pair of Venowave devices with a capped reimbursement of US$1,199. It can also be rented with a capped rental fee reimbursement of US$78.05 per month, with a total capped rental reimbursement payment of US$819.55 for 13 months of continuous use. After the 13th rental payment, the patient will own the device.

"We're pleased that the Centers for Medicare and Medicaid has approved our permanent code request, as well as the reimbursement pricing and the new HCPCS Level II designation for our Venowave VW5 device," said chief executive Rob Fia.

The Venowave VW5 is a series of compact, battery-operated peristaltic pumps that generate a wave-form motion. When strapped to the calf, the device compresses the calf which causes an increased upward volumetric displacement of venous and lymph fluid.

Therma Bright ( TBRIF ) shares were last seen down $0.005 to $0.08 on the TSX Venture Exchange.

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