Australia's Nova Eye hits 5-month high on withdrawal of US Medicare changes

Nova Eye Medical

29/12/2023 24:45

** Shares of Nova Eye Medical  EYE.AX  rise as much as 44.7%
to A$0.275, their highest level since Aug. 2
    ** The medical technology co says all five Medicare
Administrative Contractors have announced that proposed U.S.A
reimbursement changes for minimally invasive glaucoma surgery
(MIGS), which would  restrict or deny coverage for several MIGS
procedures, will not go into effect 
    ** Sales growth in US expected to continue, co adds
    ** About 1.9 mln shares change hands, compared with the
30-day average volume of 453,948 shares
    ** Shares set to gain for third straight day
    ** Stock has fallen 32.1% this year, as of last close

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))