Tag: CPAP

PLYMOUTH MEETING, Pa. – Acquisitions will continue to be a big part of AdaptHealth’s strategy, but how much will depend on how the market for CPAP devices unfolds throughout 2022, company execs said on a recent earnings call.  “Depending on supply and the availability of product in the back half of the year, we could dial up or dial down our ability to do integrations and acquisitions,” said Josh Parnes, president.   In 2021, AdaptHealth closed on 23 acquisitions,...

TAMPA, Fla. – RemSleep Holdings says it has responded to the Additional Information request related to its 510(k) application to the U.S. Food and Drug Administration for its patented DeltaWave nasal mask CPAP interface. “This submission is expected to be the final step and pivotal moment for our company,” said CEO Tom Wood. “It will dramatically strengthen the commercialization of our brand and make the DeltaWave a premier product that reinforces our commitment to providing...

WASHINGTON – The Food and Drug Administration’s Center for Devices and Radiologic Health has proposed that an order should be issued to require Philips to submit a plan to repair, replace or refund the purchase price of recalled devices manufactured after November 2015.  The FDA says Philips has the right to an informal hearing prior to the agency’s decision on whether to issue the order.  The CDRH’s proposal is in addition to the FDA’s previous...

AMSTERDAM, the Netherlands – Philips’ plan to remediate an additional 300,000 devices will push the completion date of its recall into 2023, but the company recorded additional provisions in the first quarter to speed up the process as much as it can.  Philips now expects to complete more than 90% of production and shipments to customers by the end of 2022, said Frans van Houten, CEO, during an April 25 conference call to discuss the company’s financial results for...

CINCINNATI – Quipt Home Medical has acquired Good Night Medical, a business with operations across seven states, for about $7 million in cash.  The acquisition provides Quipt Home Medical with expansion opportunities into Massachusetts, North Carolina and Texas, where it doesn’t have a presence.  “Good Night Medical strengthens our healthcare network across multiple states, enhancing our national coverage sphere over an area that includes about 5 million COPD sufferers...

YARMOUTH, Maine – A majority of sleep physicians and patients have been reluctant to prescribe and use different brands of CPAP devices, despite a recall and supply chain challenges that are limiting access to products, according to a recent HME Newspoll.  A big reason for that, respondents say: Philips and ResMed, which are the most widely prescribed and used, have the most sophisticated compliance tracking and reporting capabilities.  “Although many are upset with Philips,...

PHILADELPHIA – Baird Respiratory Therapy has filed a lawsuit against Philips, claiming it and other DME suppliers are owed refunds for recalled respiratory devices containing PE-PUR sound abatement foam, according to Law360.   The complaint, filed March 9 in the U.S. District Court for the Eastern District of Pennsylvania, seeks class action status on behalf of all similarly affected suppliers, arguing that Philips breached its warranty and misrepresented the risk...

PLYMOUTH MEETING, Pa. – A larger than expected hit from the Philips CPAP recall in the fourth quarter of 2021 is creating an overhang on 2022, but AdaptHealth says it expects to take a significant share of the patient backlog when the situation improves.  The company had previously estimated the recall’s financial impact in 2022 to be in the neighborhood of $20 million, but said during an earnings call last week that number is closer to $65 million.  “It was...

PLYMOUTH MEETING, Mass. – AdaptHealth more than doubled its revenue in 2021, with reporting $2.45 billion, up from $1.06 billion in 2020.  “2021 was a remarkable year for AdaptHealth,” said Steve Griggs, CEO. “Despite the worldwide pandemic, the shortage of CPAP equipment, and higher costs from supply chain challenges, AdaptHealth has continued to grow and prosper. Although adjusted EBITDA fell short of our full-year guidance due to product mix shift from rental to...

CINCINNATI – Despite an industry-wide shortage of CPAP devices that has significantly hampered new sleep setups, Quipt Home Medical Equipment had an “extraordinary” 2021 and plans to build on that momentum throughout 2022, say company execs.  At the end of December, the company had approximately 8,000 patients waiting to be set up on sleep devices, compared to a more typical 1,000 patients, said Greg Crawford, CEO, on a recent earnings call.  “We've got...