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Archive: July 2015


Providers

'Chaos' erupts as Univita loses contracts

July 31, 2015Theresa Flaherty, Managing Editor

MIRAMAR, Fla. - Less than a year after it took over the Florida Medicaid market, Univita Health has lost all of its contracts.HME providers place much of the blame on Medicaid officials.“We knew, from day 1, that this was going to happen,” said Fino Randazzo, owner of Florida Home Health in Orlando. “When you have one company trying to service 2 million people, it's not sustainable. Why would (the state) allow this?”Univita gained control of much of the Florida Medicaid market...

Univita Health


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Mobility

Zeldin fuels efforts to reverse decision on accessories

July 31, 2015Tracy Orzel

WASHINGTON - Mobility stakeholders have found a new champion in Rep. Lee Zeldin, R-N.Y.Zeldin introduced a bill last week that would provide a technical correction to prevent CMS from applying competitive bid pricing to accessories for complex power wheelchairs.“His name was suggested to us because he's on the Veterans' Affairs Committee,” said Don Clayback, executive director of NCART. “We met with his office the day after the congressional CRT Expo (on July 20) to discuss the...

CRT accessories


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Vendors

ResMed Americas shines in fourth quarter

July 31, 2015Liz Beaulieu, Editor

SAN DIEGO - ResMed's flow generator sales increased 53% and mask sales rebounded to increase 5% in the fourth quarter ended June 30, 2015.ResMed officials credit healthcare informatics platforms like U-Sleep, which allows providers to monitor and manage their businesses, with powering the company to generate $151.5 million in flow generator sales for the quarter.“The analogy would be iTunes is such a great platform that people are buying a lot of iPhones and iPads,” said CEO Mick Farrell....

Jim Hollingshead, ResMed


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Vendors

Invacare realigns team

July 31, 2015Liz Beaulieu, Editor

ELYRIA, Ohio - Invacare is a company in transition, Chairman, President and CEO Matthew Monaghan told investors during a conference call on July 23 to discuss the company's financial results for the second quarter of 2015.“As CEO, I've spent the last few month focusing the organization on two critical priorities: building a strong sustainable quality culture, and generating profitable growth,” he said. “There are a number of transition activities underway to make that happen, primarily...

Invacare, Matthew Monaghan


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News

In brief: O2 Concepts lands capital, growth in healthcare spending slows

July 31, 2015HME News Staff

OKLAHOMA CITY, Okla. - O2 Concepts and BOK Financial Capital, a financial services holding company, have closed on a strategic investment.Proceeds from the investment, the first outside capital that O2 Concepts has raised since launching in 2010, will support international expansion, manufacturing facility enhancements and new product development.“Our partnership with BOK Financial Capital Corporation allows us to accelerate our already impressive rate of growth,” said Rob Kent, president...

02 Concepts, Inogen, Therafirm


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Also Noted

Tech challenge winners announced

July 31, 2015HME News Staff

NEW YORK - The Kinesic Mouse, a software solution that allows users to operate their PCs hands-free using a 3D camera to detect facial expressions and head rotations, was awarded the $25,000 grand prize in the Connect Ability Challenge, sponsored by RESNA, AT&T, and New York University's ABILITY lab. The People's Choice award went to the Laugh Out Loud Aid, which sends social and living skills reminders, such as saying "please" and "thank you,” to users. More than 60 software, wearable and...

Connect Ability Challenge, RESNA


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Also Noted

ResMed finishes year with singe-digit increases

July 31, 2015HME News Staff

SAN DIEGO - ResMed reported revenues of $453.1 million for the fourth quarter ended June 30, 2015, a 9% increase compared to the same quarter last year. It reported a net income of $87.5 million, consistent with the same quarter last year. ResMed reported revenues of $1.7 billion for fiscal year 2015, an 8% increase compared to last year. It reported a net income of $352.9 million, a 2% increase. For the Americas, ResMed reported revenues of $273.7 million for the fourth quarter, a 27% increase compared...

earnings, ResMed


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Vendors

O2 Concepts lands capital for int'l expansion

July 30, 2015HME News Staff

OKLAHOMA CITY, Okla. - O2 Concepts and BOK Financial Capital, a financial services holding company, have closed on a strategic investment.Proceeds from the investment, the first outside capital that O2 Concepts has raised since launching in 2010, will support international expansion, manufacturing facility enhancements and new product development.“Our partnership with BOK Financial Capital Corporation allows us to accelerate our already impressive rate of growth,” said Rob Kent, president...

investment. BOK Financial Capital, O2 Concepts


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Also Noted

Prism Medical reports second quarter results

July 30, 2015HME News Staff

TORONTO - Prism Medical on July 28 reported sales of $14.1 million for the three months ended May 31, 2015, compared to $10.3 million for the same period last year. Net income was $430,000 vs. $21.3 million. The Canadian DME manufacturer and provider reported net sales of $26.3 million for the six months ended May 31, 2015, compared to $20.3 million for the same period last year. Net income was $832,000 vs. $22.1 million. The company intends to increase shareholder value through organic growth and...

earnings, Prism Medical


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Also Noted

Inogen to join S&P SmallCap 600

July 30, 2015HME News Staff

NEW YORK, N.Y. - Inogen will be added to the S&P SmallCap 600 stock market index after trading closes on Aug. 3. A company's market capitalization must range from $400 million to $1.8 billion to be included in the S&P SmallCap 600 Index. Inogen will be replacing Micrel, an IC solutions manufacturer.

Inogen, S&P SmallCap 600