Oventus reports significant growth

BRISBANE, Australia – Oventus Medical has booked revenues of $550,232 for the six-month period ended Dec. 31, a 192% increase over the prior period. The company credits growth driven by lab-in-lab sites that remained operational during the pandemic, continuing to scan patients; an expansion of the telehealth extension of the lab-in-lab program; and an increase in direct sales to dentists who delivered treatments in their own practices, as well as through lab-in-lab programs. “We are very pleased with how our lab-in-lab model has performed through what has been one of the most volatile and unprecedented respiratory pandemics in history,” said Dr. Chris Hart, founder and CEO. “Despite the hampering of footfall across North America, we’ve still managed to grow device sales by 143% when compared to the same period last year. Based on what we currently know and correlated with a drop in the rate of infection, we see an improved outlook for physical patient appointments in North America.” Cash receipts for the period were $415,560, up 109% over the prior period. Oventus reported that four new sites have signed on to the lab-in-lab model, including two new sites with an existing customer, Careica Health; one with Specialized Sleep in California; and one with PEAKsleep in London, Ontario. The company also reported that the first member of the VGM Group is expected to go live with Oventus in the next 90 days.