NeoStem (NBS) announced its arthroscopic orthopedic treatment, which uses autologous adult stem cells, was approved by Weihai Municipal Price Bureau at Wendeng Orthopedic Hospital. At the same time, reimbursement for the procedure was approved by Weihai Municipal Labor Bureau Medical Insurance Office. Patients are eligible to receive reimbursement for up to 80% of the procedure’s cost.
The stem cell procedure was developed by Regenerative Sciences Inc. NeoStem holds a license to the technology in Asia, and it is signing up hospitals that will offer the procedure. Wendeng Hospital is the first to do so.
Weihai is a prefecture-level city in China’s most northeast province, Shandong.