Orthofix Medical shares rose about 10% in after-hours trading Thursday after the Centers for Medicare and Medicaid Services withdrew a final order that had reclassified non-invasive bone growth stimulators. The company said CMS released revised guidance on Wednesday stating the devices will be processed and paid consistent with the treatment in effect prior to the FDA reclassification. The earlier order would have negatively impacted billing requirements and Medicare fee schedules.
Orthofix Medical IncCMS reversed reclassification that would have negatively impacted billing and Medicare fee schedules for Orthofix's non-invasive bone growth stimulators.