After rising 16% on the news yesterday, Itamar's share fell 2.6% by midday today, giving a market cap of NIS 98 million.
Itamar Medical Ltd. (TASE:ITMR) has obtained coverage of its sleep disorder diagnostic product, WatchPAT, from US insurer, UnitedHealthcare.
After rising 16% on the news yesterday, Itamar's share fell 2.6% by midday today to NIS 0.85, giving a market cap of NIS 98 million.
UnitedHealthcare is a unit of UnitedHealth Group Inc. (NYSE: UNH). It is one of the five largest US medical insurers, covering 70 million people. Itamar said that the coverage follows granting of a code for the WatchPAT by Centers for Medicare & Medicaid Services (CMS) in March. However, a price has still not been set by CMS, so the WatchPAT's profitability cannot yet be calculated.
Published by Globes [online], Israel business news - www.globes-online.com - on September 24, 2009
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