Centers for Medicare and Medicaid Services said it received a complete, formal request to provide coverage for renal denervation. Renal denervation is a new technology that uses catheters placed into the renal arteries to ablate, or destroy, the renal sympathetic nerves to reduce blood pressure, the agency said in a statement. Shares of Medtronic (MDT) are up 3%, or $2.87, to $92.27 following the news.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDT:
- CMS proposal for reimbursement ‘seems positive’ for Medtronic, says Stifel
- Medtronic’s Renal Denervation Opportunity: Hold Rating Amid Challenges and Potential Growth
- Medtronic’s Market Position: Balancing Growth Opportunities and Challenges
- Medtronic Positioned for Growth with Favorable CMS Decision on Renal Denervation
- Buy Rating Affirmed for Medtronic Amid Favorable NCD Proposal and RDN Market Growth