Medical device company Oventus Medical (ASX: OVN) has confirmed its sleep treatment platform will be included in a range of obstructive sleep apnoea (OSA) treatment solutions being sold by Aeroflow Healthcare, a US durable medical equipment supply business.
Under the terms of the agreement, Oventus’ platform, including its O2Vent Optima product and consumables will be introduced by Aeroflow across all its locations across the south-eastern US states, with customers to be processed via a direct-to-consumer e-commerce platform and via agreements with referring sleep clinics.
The two companies have signed a master agreement whereby Aeroflow will sell Oventus’ products under subcontracts with regional sleep groups nationwide across the US.
“Oventus and Aeroflow are aligned through our ambitious growth targets and shared interest in providing the best available care to patients,” declared Oventus chief executive officer Dr Chris Hart.
“This agreement will see Oventus products rolled out initially across the southeast and then nationally as part of Aeroflow’s US expansion plans. Our common targets and values make us great growth partners,” said Dr Hart.
Today’s news comes hot on the heels of news that Oventus launched a further three clinical delivery sites in the US as part of its “lab in lab” business model and generated first revenues at five US sites in December 2019.
Three new sites are now operational in South Carolina, Illinois and Texas, with all three expected to supplement the company’s growth this year.
According to Oventus, its deal pipeline increased from $20 million to more than $33 million, with further growth expected as a result of additional agreements across key markets over the coming months.
Treating sleep apnoea
Oventus says it considers itself as an “obstructive sleep apnoea treatment innovator” that markets a range of sleep apnoea products under the O2Vent Optima brand – a customisable oral device that can be 3D printed with durable nylon.
Moreover, Oventus claims it has developed proprietary airway technology that improves breathing ability and mitigates problems during sleep.
The company’s O2Vent airway channel has been incorporated into each device it manufactures, enabling unobstructed air to flow through the device to the back of the throat, bypassing common sites of obstruction such as the nose, tongue and soft palate.
“We are pleased to partner with Oventus as we feel the O2Vent Airway Technology will offer something unique that our patient and clinician community has been unable to access before now. It is a compelling solution for patients that cannot tolerate CPAP or don’t desire it as a treatment option,” said Casey Hite, chief executive officer of Aeroflow.