It was in early August 2022 the company learned its Cxbladder tests could be dropped by Novitas. Those tests represented a significant portion of testing revenue.
Pacific Edge has previously said it has a range of strategies, including a potential legal challenge, should a non-coverage determination be delivered.
A decision was due by last Friday but, in a website post on Saturday, Novitas said it was considering all the feedback from interested parties and an extension had been granted for all comments to be considered thoroughly.
In an update to the NZX yesterday, Pacific Edge said the continued deliberation meant its Cxbladder Triage, Detect and Monitor tests continued to receive reimbursement from Medicare and Medicare Advantage payers in line with historical reimbursement rates, subject to medical necessity guidelines.
The timeframe for finalising the LCD was unknown. The company would update shareholders as it gained certainty on the status of the LCD and the timeline for its resolution but would not be making further comment until then, Pacific Edge said.
Rhys Griffiths.
Deer Industry New Zealand has named both a permanent chief executive and a new board chairman.
Interim chief executive Rhys Griffiths, who has been filling in since the departure of Innes Moffat, has been permanently appointed to the position.
Mr Griffiths has spent more than 16 years in the industry, beginning as DINZ velvet marketing services manager in 2008 before taking over the markets manager role in 2015.
"I am honoured that the board has seen fit to make my position as DINZ chief executive permanent. Anyone that knows me knows how passionate I am about the deer industry and positioning us for the best chance for future success. I’m also very grateful for the team I have at DINZ, who have really pulled together over the last couple of months to help as I wore two hats", he said in a statement.
Meanwhile, Haldon Station manager Paddy Board has been named board chairman, replacing Gerard Hickey who has been interim chairman since late June. Mr Hickey temporarily took on the role after the incumbent, Mandy Bell, failed to be reappointed.
Tony Allison.
Dunedin's Tony Allison has been appointed to the board of Crown Research Institute Scion.
Mr Allison, the managing director and owner of Smiths City Finance, has a career spanning various executive and governance roles. Previous roles include chairman of Otago Polytechnic and he has also held other governance roles at Delta Utility Services, Dunedin International Airport, Mornington Health Centre, Night ’n Day Foodstores and City Forests Ltd.
Economist Murray Sherwin was also appointed to Scion’s board by Science, Innovation and Technology Minister Judith Collins.
Earlier this year, Mainland Angel Investors expanded into Canterbury, by teaming up with Canterbury Angels, to help pave a more efficient road to early-stage capital in the South Island.
Now MAI’s board has appointed experienced entrepreneur, director and angel investor Camille Hunt to lead the Canterbury network with its growth and expansion efforts. Ms Hunt previously managed Valhalla Angela, an investor community in Vancouver, Canada.
In a statement, board chairman Brad Hurndell, of Queenstown, said MAI was delighted to add her significant experience growing and supporting an angel community to the team as momentum was built in Canterbury.
"The scale Christchurch brings to MAI is a major step forward for our community and for local businesses seeking to raise capital in New Zealand", he said.
Ms Hunt noted there were many strong investment clusters to build on in Canterbury for business growth, including aerospace and future transport, food, fibre and agritech, health tech and hi-tech.
MAI runs regular investment evenings simultaneously in Christchurch, Queenstown, Dunedin, Invercargill and Wanaka.
