Archive: January 2022
ConvaTec enters new market
January 31, 2022HME News Staff
BRIDGEWATER, N.J. – ConvaTec will enter the wound biologics segment with its planned acquisition of Memphis, Tenn.-based Triad Life Sciences for an initial consideration of $125 million.
The company says the wound biologics segment is estimated to be worth $1.8 billion per year globally.
“Today’s announcement marks another successful step in our strategic intent of pivoting to sustainable and profitable growth,” said Karim Bitar, CEO of ConvaTec. “This...
Oventus names new CEO, reports results
January 31, 2022HME News Staff
BRISBANE, Australia – Oventus Medical has announced that John Cox will replace Dr. Chris Hart as CEO on Feb. 1. Hart will remain executive director and will also take on the new role of chairman of the Scientific Advisory Board to lead scientific and clinical research projects designed to position the company’s O2Vent Opima technology as the first choice for patients and clinicians for the treatment of OSA. “On behalf of the board, I want to thank Chris for his leadership and the...
Big chunk of Congress supports Medicare Advantage
January 31, 2022HME News Staff
WASHINGTON – A recent letter signed by 346 members of the U.S. House of Representatives makes the case for a “stable” Medicare Advantage program. In the letter to CMS, lawmakers urge the agency to “provide a stable rate and policy environment that ensure Medicare Advantage can continue to provide the affordable, high-quality, patient-centered coverage our constituents rely on every day.” “Medicare Advantage continues to reach new highs in enrollment, beneficiary...
Improper payment rate drops
January 31, 2022HME News Staff
WASHINGTON – The improper payment rate for DMEPOS was 28.6% from July 2019 through June 2020, a 3.2% decrease from the prior year, according to the latest 2021 Medicare Fee-for-Service Supplemental Improper Payment Data Report from CMS. The improper payment rate varies by product category, AAHomecare pointed out in a bulletin, from 8.8% for power wheelchairs to 40.8% for enteral nutrition. CPAP devices and oxygen concentrators had improper payment rates of 30.8% and 22.3%, respectively. The...
ResMed benefits from up to $55M in incremental revenue
January 28, 2022Liz Beaulieu, Editor
SAN DIEGO – Demand for CPAP devices is so high right now that, despite current supply chain constraints, ResMed was able to increase sales by double digits in the United States, Canada and Latin America for the second quarter in a row.
The company posted a 19% increase in sales for CPAP devices in the second quarter of its fiscal year 2022, on the back of a 40% increase in the first quarter, largely as a result of a competitor’s recall.
“In relation to the impact...
Philips: ‘We are very intent on getting back in play’
January 28, 2022Liz Beaulieu, Editor
AMSTERDAM, the Netherlands – Philips expects to be better able to provide guidance on when it will start recovering its market share in the sleep and respiratory market this summer, says CEO Frans van Houten.
The company is still very much in the throes of a recall of respiratory devices that it doesn’t expect to conclude until the fourth quarter of this year.
“I find it’s too early; nevertheless, I don’t want to leave you hanging there,” he said...
OM’s Byram and Apria ‘complete each other’
January 28, 2022Theresa Flaherty, Managing Editor
YARMOUTH, Maine – Owens & Minor’s anticipated acquisition of Apria Healthcare, announced earlier this month, follows the playbook of a deal generating synergies between buyer and “buyee,” but the companies have their work cut out for them, says Dexter Braff, president of the Braff Group.
“You’ve got two mammoth organization trying to find a way to work with one another to optimize these and leverage those opportunities,” he said. “It’s...
Project seeks to map activity of seniors
January 28, 2022Theresa Flaherty, Managing Editor
COLUMBIA, Mo. – A new project puts eyes in the homes of seniors living in rural areas to see what is happening in real time, says Rachel Proffitt of the University of Missouri and principal investigator.
“This is one of the first times putting (such monitoring) into the home and pushing it into the rural areas,” said Proffitt, an assistant professor in the MU School of Health Professions. “Everybody talks about precision health care and doing genetic sequencing and...
In brief: AAH rallies for bid relief, Philips recalls more vents, Belluscura beats forecasts
January 28, 2022HME News Staff
WASHINGTON – AAHomecare is calling on providers to contact their members of Congress to sign on as original co-sponsors for draft legislation from by Rep. Markwayne Mullins, R.-Okla., and Paul Tonko, D-N.Y., that would provide reimbursement relief.
The legislation would apply 90/10 blended reimbursement rates for the 13 product categories that were removed from Round 2021 of Medicare’s competitive bidding program. The rates would apply from Jan. 1, 2022, through Dec. 31, 2023.
“A...
ResMed posts double-digit increases
January 28, 2022HME News Staff
SAN DIEGO – ResMed reported revenue of $894.9 million for the second quarter of fiscal year 2022, a 12% increase compared to the same period the prior year.
It reported net income of $201.8 million, also a 12% increase.
“Our second-quarter results reflect continued strong performance across our business resulting in double-digit top-line revenue growth, driven by ongoing high demand for our sleep and respiratory care products, and solid growth in our software-as-a-service...