Glaukos Takes Another Hit From CMS; Investors Respond Negatively As Stock Falls
The US Medicare agency's new rule for facility fees brings more bad news for Glaukos; Wells Fargo downgrades company’s stock in response.
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Corza Medical, a private equity-backed surgical technologies company, has acquired Barron Precision Instruments to expand its ophthalmology surgery business and manufacturing capacity. Earlier in the year, Corza bought Katena Products, a developer of ophthalmic instruments for surgical and in-office applications.
Rate adjustment recommendations to US Medicare could result in less drastic reimbursement cuts for Glaukos than those currently on the table.
The US Centers for Medicare & Medicaid Services (CMS) issued a proposed rule that includes new reimbursement levels for multiple medical devices, including the Glaukos iStent.