EBR Systems (ASX:EBR) is targeting an around $3.6 billion initial addressable market at the commercial launch of its Wireless Stimulation Endocardially (WiSE) Cardiac Resynchronisation Therapy (CRT) system, according to a Thursday Australian bourse filing.
The firm submitted its application to the US Centers for Medicare & Medicaid Services for the transitional pass-through reimbursement scheme for its proprietary WiSE CRT system.
The biggest segment in the initial addressable market is expected to be patients for whom the traditional CRT system implant has ceased to provide effective CRT. This segment represents $1.45 billion.
High-risk patients and patients with a leadless right ventricle pacemaker are also part of the firm's initial addressable market. Medtronic's Micra leadless pacemaker has been qualified for use with the WiSE CRT system.
The firm's shares slumped 12% in recent trading on Thursday.
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