Tag: ProSomnus
ProSomnus seeks ‘renewed foundation’
May 15, 2024HME News Staff
PLEASANTON, Calif. – ProSomnus, which makes a CPAP alternative for the treatment of obstructive sleep apnea, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, listing more than $26.3 million in assets and $52.89 million in debts.
In connection with this process, ProSomnus has secured the support of multiple key investors and lenders under a plan that is designed to deliver an aggregate of approximately $20 million of new capital into the...
ProSomnus raises $10M
September 25, 2023HME News Staff
PLEASANTON, Calif. – ProSomnus, which makes a CPAP alternative for the treatment of obstructive sleep apnea, has completed a $10 million convertible preferred equity offering led by existing investors Spring Mountain Capital and Cetus Capital. The company will use the new capital to optimize its core business operations and support its strategic growth initiatives as it strives to achieve cash flow breakeven. “The completion of this financing fortifies our balance sheet as we continue...
ProSomnus says OAT therapy as effective as CPAP
August 23, 2023HME News Staff
PLEASANTON, Calif. – Precision oral appliance therapy was effective among 90% of moderate and 85% of severe OSA patients during a recent study, says ProSomus, maker of the ProSomnus EVO. The company’s First Line Obstructive Sleep Apnea Treatment (FLOSAT) study looked at 136 patients to compare the effectiveness of precision OAT vs. CPAP therapy. Key findings to date include: Precision oral appliance therapy is effective, and non-inferior to CPAP, as a first-line treatment for moderate...
ProSomnus oral appliance cleared for Medicare reimbursement
December 19, 2022HME News Staff
SAN FRANCISCO – ProSomnus, Inc., which makes precision oral appliance therapy (OAT) devices for the treatment of obstructive sleep apnea (OSA), has announced that its ProSomnus EVO {PH] Sleep and Snore Device now qualifies for Medicare reimbursement. The Pricing, Data Analysis, and Coding (PDAC) contractor has reviewed and verified the device for HCPCS code E0486. “With Medicare coding verification, the ProSomnus EVO [PH] offers health care providers and their Medicare beneficiary patients...
ProSomnus secures $30M in financing
August 29, 2022HME News Staff
SAN FRANCISCO – ProSomnus Sleep Technologies, a manufacturer of oral appliance therapy devices, has announced definitive agreements with institutional investors led by funds affiliated with or managed by Cohanzick Management and CrossingBridge Advisors. The financing - $30 million of debt comprised of two tranches: $15 million of senior secured convertible notes and $15 million of junior secured convertible notes with maturities of 36 months and 40 months, respectively – will support...