WILMINGTON, N.C., Nov. 2, 2012 (GLOBE NEWSWIRE) -- TranS1 Inc. (Nasdaq:TSON), a medical device company focused on designing, developing and marketing products that implement its proprietary approach to treat degenerative conditions of the spine affecting the lower lumbar region, announced today that the Department of Health and Human Services, through the Centers for Medicare and Medicaid Services (CMS), has approved and released the valuation of the Category I Current Procedure Terminology (CPT) code 22586 for pre-sacral interbody single level spinal fusion at L5-S1 to be effective January 1, 2013.
CPT code 22586, which applies to the Company's AxiaLIF 1L+ device, is a bundled lumbar arthrodesis procedure that includes bone graft, posterior instrumentation, and fixation which has been assigned a work RVU of 28.12 for calendar year 2013.
"We are pleased with the value assigned to our Category I code, which we believe will enable us to compete successfully in the lumbar fusion market with our AxiaLIF 1L+ implant," said Ken Reali, President and CEO of TranS1. "In the fourth quarter, we have begun the re-launch activities for our AxiaLIF product line. Having a definitive value for physician reimbursement next year will allow us to increase surgeon adoption based on the proven clinical value of our technology and also provide a procedure that can improve the health economics in spinal fusion through our minimally invasive pre-sacral approach."
About TranS1 Inc.
TranS1 is a medical device company focused on designing, developing and marketing products to treat degenerative conditions of the spine affecting the lower lumbar region. TranS1 currently markets the AxiaLIF® family of products for single and two level lumbar fusion, the VEOTM lateral access and interbody fusion system, and the VectreTM posterior fixation system for lumbar fixation supplemental to AxiaLIF fusion. TranS1 was founded in May 2000 and is headquartered in Wilmington, North Carolina. For more information, visit www.trans1.com.
CONTACT: Investors: TranS1 Inc. Joseph P. Slattery, 910-332-1700 Executive Vice-President and Chief Financial Officer Westwicke Partners Mark Klausner, 443-213-0501 email@example.comSource:TranS1 Inc.