In brief: HoneyNaps funding, Philips BiPAP update, F&P Healthcare results 

BOSTON – HoneyNaps, an AI sleep data analysis company based in South Korea, has closed its series B round of funding, securing $11.6 million. 

This funding is nearly three times the $3.9 million raised through series A funding back in 2021. 

"This successful funding amidst a challenging investment climate has validated our position as Korea's leading sleep-tech company,” the company’s CFO stated in a press release. "These resources will enable us to achieve results in the domestic and American medical market and earn recognition.” 

Founded in July 2015, HoneyNaps has amassed about $16.2 million to date, starting with seed funding of about $0.7 million secured through success-share-funding from the Ministry of SMEs and Startups in 2019. In this round, new investors included Korea Industrial Bank, Hi investment Partners and QUAD Investment Management.   

HoneyNaps obtained approval from the U.S. Food & Drug Administration for its AI sleep diagnosis software SOMNUM in 2023, establishing partnerships with major university hospitals across the U.S. through its Boston-based American branch. The domestic sales growth coupled with the perceived potential for export to the American medical market are cited as key drivers to the company's success in funding. 

SOMNUM is an algorithm that analyzes bio signal data during sleep and provides disease diagnoses under five minutes using its self-developed AI model. The software can be integrated into any medical and health care market using real-time, large-scale bio signal. 

Beyond SOMNUM's current use in sleep disease diagnosis, the company plans to further advance the AI to expand its application to other critical areas such as cardiovascular disease, dementia and Parkinson's disease. 

F&P Healthcare ‘returned to trajectory of growth’ 

AUCKLAND, New Zealand – Fisher & Paykel Healthcare has reported total operating revenue of $1.74 billion for the 2024 financial year, a 10% increase year over year, or 8% in constant currency. 

The company says its growth was driven by solid demand in hospital consumables and strong growth in the obstructive sleep apnea mask business. 

“After several years of changing demand patterns, we are pleased to have returned to a trajectory of growth,” said CEO Lewis Gradon. “All the right foundations are in place for future success – we have an impressive portfolio of products, strong relationships with our customers and the right infrastructure to meet our future needs.” 

Specifically for the Homecare product group, F&P reported revenue of $652.3 million, an 18% increase, or 16% in constant currency. Growth was driven by the continued success of the F&P Evora Full mask in both North America and Europe. 

In its financial results, F&P also highlighted the launch of two new masks: the F&P Solo and the F&P Nova Micro. The F&P Solo, which is already available for sale in New Zealand, Australia and the United States, enables automatic fitting for patients who prefer to fit the mask without assistance. The F&P Nova Micro, which has been released in New Zealand and Canada and which is expected to launch in Australia, Europe and the United States in the 2025 financial year, was designed for patients who want to fit the mask manually. 

For the 2025 financial year, F&P expects operating revenue in the range of approximately $1.9 billion to $2 billion and net profit after tax in the range of approximately $310 million to $360 million.   

Philips updates safety notice for certain BiPAPs 

AMSTERDAM – Philips has provided an update on a field safety notice affecting certain Philips Respironics ventilators due to a potential device alarm-related issue. 

The company first notified customers of the safety notice in March. 

Philips provided the following update: 

• Philips Respironics notified customers of the BiPAP A30, BiPAP A40, BiPAP V30 and OmniLab Advanced Plus ventilators of a potential issue affecting approximately 100,000 units. 

• Under certain circumstances, the ventilator inoperative alarm, which detects an internal error or condition that could affect therapy, may incorrectly engage. In this event, the ventilator will shut down, in accordance with the intended function of the alarm.  

• There have been no reports of patient harm for BiPAP V30 or OmniLab Advanced Plus units, and a limited number of possible rare patient adverse events for the BiPAP A30 and BiPAP A40 devices. 

• Regarding BiPAP A30 and BiPAP A40 devices, the company has received 10 reports alleging serious injury, and seven reports of patient death potentially associated with this issue over a 12-year period, between 2011 and 2023. Investigation of these reports could not conclusively determine causation. 

Philips says customers may continue to use their system in accordance with device instructions for use and the field safety notice. 

It also says it is currently investigating this issue and will implement appropriate actions to prevent recurrence. 

Tandem integrates with Dexcom 

SAN DIEGO – The Tandem Mobi insulin pump with Control-IQ technology is now fully compatible with both the Dexcom G7 and Dexcom G6 continuous glucose monitoring systems (CGMs). Tandem Mobi, an automated delivery system (AID), launched in the United States earlier this year. “Choice is a hallmark of our offerings, and we’ve proven this commitment with the expansion of our insulin pump portfolio and extended CGM compatibilities,” said John Sheridan, president and CEO of Tandem Diabetes Care. “With this integration, we’re providing more flexibility for our customers and continuing our decade-long partnership with Dexcom to bring innovative and discrete solutions to people living with diabetes.” As a result of the new integration, Tandem Mobi users can also experience more time in closed loop with Dexcom G7’s 30-minute sensor warmup time and additional discretion with Dexcom G7’s low-profile, all-in-one wearable. Tandem will email all Tandem Mobi users in the United States over the coming weeks, when their software update is available, with instructions on how to add the new feature free of charge by remote software update. Tandem Mobi pumps pre-loaded with the updated software are now shipping to new customers. 

GAO names new MedPAC members 

WASHINGTON – The U.S. Government Accountability Office has appointed two new members to the Medicare Payment Advisory Commission (MedPAC) and reappointed four current members. The newly appointed members are Paul Casale, MD, MPH, executive director of NewYork Quality Care and Professor of Population Health Sciences and Clinical Medicine at Weill Cornell Medicine, and Joshua Liao, MD, MSc, professor of medicine and division chief of general internal medicine at the University of Texas Southwestern Medical Center and faculty at the University of Texas Southwestern O’Donnell School of Public Health. Their terms will expire in April 2027. “MedPAC provides critical information to Congress on the key issues related to the Medicare program,” said Gene L. Dodaro, comptroller general of the United States and head of the GAO. “I am pleased to announce these latest appointments and am confident today’s highly qualified members will provide valuable contributions to MedPAC’s important work.” The reappointed members are Lynn Barr, MPH, founder of the Barr-Campbell Family Foundation; Cheryl Damberg, PhD, director of the RAND Center of Excellence on Health System Performance and principal senior economist at the RAND Corp.; Stacie Dusetzina, PhD, professor of health policy and an Ingram Professor of Cancer Research at Vanderbilt University Medical Center; and Gina Upchurch, RPh, MPH, founder and executive director of Senior PharmAssist. Their terms will also expire in April 2027. Current members whose terms expired in April 2024 are Jonathan Jaffery, MD, MS, MMM; and Jaewon Ryu, MD, JD. Congress established MedPAC in 1997 to analyze access to care, cost and quality of care, and other key issues affecting Medicare. The comptroller general is responsible for naming new commission members. 

NSF reviews sleep research, details impact of screens 

STONY BROOK, N.Y. - Sleep experts selected by the National Sleep Foundation to review 574 peer-reviewed published studies have agreed that, in general, screen use impairs sleep health among children and adolescents. They also found that the content of screen use before sleep impairs sleep health of children and adolescents, and behavioral strategies and interventions may attenuate the negative effects of screen use on sleep health. ”Upon review of the current literature, our panel achieved consensus on the importance of reducing pre-bedtime digital media to improve sleep health, especially for children and adolescents,” says Lauren Hale, PhD, chair of the Consensus Panel and professor in the Program of Public Health at Stony Brook University, and in the Department of Family, Population, and Preventive Medicine at the Renaissance School of Medicine at Stony Brook. “We also identified the gaps in the literature and the need for future research.” The findings, outlined in “The Impact of Screen Use on Sleep Health Across Lifespan: A National Sleep Foundation Consensus Statement,” were published in Sleep Health, the national journal of the NSF. The NSF provides recommendations for best practices to reduce the impact of screen use on sleep, including avoiding stimulating or upsetting material near bedtime; implementing early, regular and relaxing bedtime routines without screens; setting time limits around screen use, especially in the evening and at night; and parents modeling appropriate nighttime screen use for children. 

Jason Morin to help ‘drive mission’ at Analytix Solutions 

WOBURN, Mass. – Jason Morin, formerly of Coloplast, has joined Analytix Solutions as vice president of the company’s Healthcare Division. “I’m looking forward to the opportunity to work more closely with leaders like Enida Mimani and Satish Patel who continue to raise the bar in delivering tech-enabled services and solutions for the HME industry,” he said in a LinkedIn post. Analytix Solutions, based in Woburn, Mass., offers accounting / bookkeeping, medical billing, audio visual and IT outsourcing services to small businesses across the country. “With over 25 years of expertise in the health care industry, Jason brings a wealth of knowledge and experience that will greatly benefit our clients,” the company said in a LinkedIn post. “His leadership and innovative vision promise to drive forward our mission of delivering exceptional health care solutions.”