Tag: Oventus Medical
Hart resigns, Oventus voluntarily suspends trading
June 9, 2022HME News Staff
BRISBANE, Australia – Dr. Chris Hart has resigned from Oventus effective June 8. The board of directors has begun a search for a new Australian resident director. “On behalf of the board, I want to thank Chris for his contribution to Oventus,” said the company. “He invented the technology and led Oventus through its early stages. He is leaving the board to return to his clinical practice.” The board will place Oventus into voluntary suspension, such that its shares will...
Oventus reaches milestone
May 2, 2022HME News Staff
BRISBANE, Australia – Oventus Medical’s direct-to-consumer market model reached its first optimization milestone in the third quarter of its fiscal year 2022: It delivered growth in active leads with a reduction in advertising spend of 20% less than the previous quarter, the company has announced. Despite the March quarter being slow due to seasonality, Oventus says new leads increased 63% with 6,100 generated. “With the weakest of insurance seasonality period behind us, we...
Oventus gains momentum with DTC model
February 28, 2022HME News Staff
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...
In brief: Home infusion fail, free tests, ResMed CTO
February 4, 2022HME News Staff
WASHINGTON - The National Home Infusion Association isn’t surprised by a recent report from CMS that shows a drop in the number of beneficiaries using the Medicare Part B home infusion therapy (HIT) services benefit.
The association says the report shows the benefit has failed to draw sufficient participation from providers to ensure equitable access across the country.
“The Part B HIT services benefit is clearly failing to meet the needs of Medicare beneficiaries,”...
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...
Oventus grows DTC sales channel
October 28, 2021HME News Staff
BRISBANE, Australia – Oventus had revenue of $221,000 for its fiscal first quarter 2022, in line with the previous quarter. Its direct-to-consumer sales channel grew, with visits more than doubling, from 118,000 to 247,000, over the prior quarter. “While the COVID pandemic continues to hamper patient volumes for some of our clinical partners in the U.S., Australia and Canada, it is very pleasing to see our DTC marketing program achieving positive results,” said Dr. Chris Hart, managing...
Oventus reapplies to PDAC
October 26, 2021HME News Staff
BRISBANE, Australia – Oventus Medical has reapplied to Palmetto GBA, the pricing data analysis and coding contractor (PDAC), for approval of the newly submitted Optima version of its O2Vent oral appliance to treat obstructive sleep apnea. This version of the device is designed specifically for Medicare patients. “In the meantime, this means that O2Vent Optima will not be able to be supplied to Medicare patients in its own right for reimbursement purposes,” the company stated....
Oventus targets growth in North America with new hire
September 13, 2021HME News Staff
BRISBANE, Australia – Oventus Medical has appointed Michael Sisk as vice president of finance in the U.S. to support the increasing needs of the company’s North American operations. He brings more than 25 years of experience in finance and accounting, ranging from smaller banks to $8 billion publicly traded financial institutions. “Mike has built a strong track record of financial management with publicly traded organizations over many years,” said Dr. Chris Hart, founder...
Oventus Medical reports growth
August 31, 2021HME News Staff
BRISBANE, Australia – Oventus Medical booked revenues of $1.1 million for the 12 months ended June 30, an increase of 160% over the prior period. “FY21 was Oventus’ best year for device sales on record, despite what remained a highly challenging patient treatment environment for in-person clinical settings, which were heavily tampered by the COVID-19 pandemic,” the company stated. Contributing to Oventus’s growth in the year: lab-in-lab sites that remained operational...
Oventus up over last year
August 2, 2021HME News Staff
BRISBANE, Australia – Oventus reported revenue of $223,000 for its fiscal fourth quarter of 2021, an increase of 214% over the same quarter in 2020, but a 30% decrease from the third quarter, which the company attributed to sporadic lockdowns in key markets. Telehealth bookings continue to grow with 507 consultations scheduled in Q4 FY21, up 635% vs. Q4 FY20, and up 25% vs Q3 FY21. Also during the quarter, Oventus completed a restructure to align with current market conditions and reduce overhead...