LifeHealthcare Group Limited (LifeHealthcare) (ASX:LHC) refers to today’s announcement from the Minister for Health and Sport on the strategic agreement reached with the Medical Technology Association of Australia on behalf of its members and other companies that have products listed on the Prostheses List (PL).
Minister Hunt has today announced a four year strategic agreement in effect from 15 October 2017 to January 2022 that will initiate a number of reform measures to the PL including price reductions, due to take effect in 2018 and 2020 with varying levels of percentage price reductions across the thirteen categories of the PL based upon established price variances between private and public pricing. The price reduction in 2018 will be implemented in two tranches, 80% with effect from 1 February 2018 and 20% with effect from 1 August 2018. The price reduction in 2020 will be implemented 100% with effect from 1 February 2020.
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