Oventus Medical Ltd has signed its first material contract with an American sleep medicine group that will adopt the company’s O2Vent treatment platform for the treatment of obstructive sleep apnea (OSA) across 8 clinical treatment sites.
The agreement identifies Oventus as the primary supplier for oral appliances for the treatment of OSA. The agreement with The Sleep Doctor PLLC reaches across three states—Texas, Arizona, and New Mexico—where minimum monthly quota of 20 O2Vent devices will be delivered to patients, per site. Due to large volumes of patients, device orders are expected to exceed these quotas once fully operational. The agreement will be officially launched if/when the O2Vent Optima oral device has received regulatory clearance from the US FDA.
Chris Hart, M.Phil, BSc, BDSc, CEO of Oventus, says in a release, “This is an important agreement as it is the first we’ve announced in the US which will use our ‘lab in lab’ business model and one that we have signed in anticipation of FDA clearance of the company’s flagship device the O2Vent Optima. It further validates the growing interest in our sleep apnea treatment platform and the business model which benefits both patients and treatment providers. This US agreement follows our announcement last month that the first 7 sites had signed up in Canada under the same model, also committed to selling minimum quantities of our O2Vent Optima devices.
“There are a number of additional contracts being negotiated in Canada where both O2Vent Optima and Oventus’ unique oral PEEP valve, ExVent are both cleared for sale. We are working through the set-up process for the first 7 sites in Canada now and are hopeful that FDA approval for the O2Vent Optima will occur shortly so that we can enable these US agreements soon after completing our initial Canadian deployments.”
Further agreements of this kind are expected to be secured and announced across these key markets over the next 12-24 months.