BioCentury
ARTICLE | Finance

Reimbursement money

VCs bulk up CardioDx after Medicare coverage for coronary artery disease test

September 3, 2012 7:00 AM UTC

CardioDx Inc. will use part of last week's $58 million series F round to nail down private payer reimbursement for the company's Corus CAD test for obstructive coronary artery disease. The company is banking that the August decision by Medicare administrator Palmetto GBA to reimburse the test will help smooth the way with private payers.

President and CEO David Levison said CardioDx had planned to wait until the Medicare decision before raising more money, noting the company pulled in $60 million in an E round last year...