Oventus gains momentum with DTC model
By HME News Staff
Updated 11:31 AM CST, Mon February 28, 2022
IRVINE, Calif. – Oventus Medical has reported interim financial results for the six months ended Dec. 31, 2021, including $554,000 in revenue. The company, which makes the O2Vent oral device to treat obstructive sleep apnea, also reported cash receipts totaling $497,000, up 20% compared to the same period in 2020. “We are very encouraged by the way the move to direct-to-consumer marketing has resulted in substantial growth of the prospective customer pipeline,” said John Cox, who recently replaced Dr. Chris Hart as CEO. “We’ve proven our ability to identify and engage customers, and that once engaged, they are very interested in the O2Vent technology. We now turn our focus to improving our conversion rates and reducing the remaining friction points in the patient journey.” Oventus reported revenue per unit increased by 42% for the six months ended Dec. 31, as patients increasingly embrace the convenience of what it calls the “virtual patient journey.” It also reported strong growth in the sales pipeline, including a two-fold or better improvement in many key customer capture metrics.
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