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Justin Smith on growing 3B Medical the PE way

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Justin Smith on growing 3B Medical the PE way

May 14, 2021Liz Beaulieu, Editor

WINTER HAVEN, Fla. – 3B Medical’s new CEO Justin Smith wants to grow the company to hit $100 million in revenues in the next few years.  Hear what Smith, whose background includes roles at Bear Stearns and ComVest Partners, had to say about how 3B Medical’s product pipeline and acquisition plans make it a company “with legs.”  HME News: What drew you to the health care industry and 3B Medical?  Justin Smith: I...

3B Medical, Justin Smith, private equity


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OxyGo buys LIFE Corporation

May 11, 2021HME News Staff

WESTLAKE, Ohio – OxyGo, a manufacturer of lightweight portable oxygen concentrators, has acquired LIFE Corporation, a manufacturer of portable emergency oxygen and CPR administration equipment.  The acquisition will allow OxyGo to further expand its expertise in the oxygen market, says V.E. Marquard-Schultz, Esq., CEO.  “Acquiring LIFE Corp. is an exciting and logical next step in offering proactive gas solutions to the medical and industrial markets,...

LIFE Corporation, M&A, OxyGo, Portable Oxygen Concentrator


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In Invacare’s ‘line of sight’: robust growth  

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In Invacare’s ‘line of sight’: robust growth  

May 7, 2021Liz Beaulieu, Editor

ELYRIA, Ohio – Invacare expects to ship $15 million worth of back orders in the next two quarters, which will give the company a nice lift going into the back half of 2021.  Invacare reported a 10.2% decrease in net sales for the first quarter this year compared to the same period last year, primarily due to the impacts of the COVID-19 pandemic, including continued limited access to health care, and to supply chain disruptions.  “Our first quarter results were...

Coronavirus Outbreak, Invacare, Matt Monaghan


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Inogen: Bumps in Q1 should smooth out in Q2

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Inogen: Bumps in Q1 should smooth out in Q2

May 7, 2021Liz Beaulieu, Editor

GOLETA, Calif. – Inogen’s financial results for the first quarter of 2021 were a mixed bag but there are early signs, company officials say, that they will improve in the second quarter.  Inogen reported an 84.2% increase in rental revenues – hitting about 34,700 patients on service – and an 11.6% increase in domestic B2B sales for the first quarter of 2021 compared to the same period last year. But it also reported a...

Ali Bauerlein, Inogen, Oxygen


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Invacare: Decline is temporary 

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Invacare: Decline is temporary 

May 6, 2021HME News Staff

ELYRIA, Ohio – Invacare reported net sales decreased 10.2% to $196.2 million in the first quarter of 2021 compared to the same period in 2020.  The company says revenue growth in respiratory products was more than offset by lower sales of mobility and seating and lifestyle products, which continue to be impacted by the COVID-19 pandemic, as well as supply chain disruptions that hampered its order fulfillment during the quarter.   "We entered 2021 with strong demand for...

Home Medical Equipment, Invacare, Matt Monaghan


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Inogen sees significant growth in rental revenues 

May 5, 2021HME News Staff

GOLETA, Calif. – Inogen reported total revenues of $86.9 million for the first quarter of 2021, a 1.8% decrease from the same period last year, primarily due to the impacts of the COVID-19 pandemic, the company says.  It reported a net loss of $732,000 vs. a net loss of $1.59 million.  “While the COVID-19 pandemic continued to have an impact on our business in the first quarter of 2021, we saw sequential growth in all four channels, and sequential growth of 17.5%...

Inogen, Nabil Shabshab, oxygen concentrators


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Philips gets in front of possible safety issue 

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Philips gets in front of possible safety issue 

April 30, 2021Liz Beaulieu, Editor

CAMBRIDGE, Mass. – There’s only a “small risk” that the sound abatement foam in the first-generation DreamStation is being compromised by outside factors, including ozone cleaners, but Philips has chosen to be proactive and fix or replace these CPAP devices in the U.S., says CEO Frans van Houten.  The occurrence rate of deterioration of the foam is about 0.03%, based on internal user...

CPAP Machines, DreamStation, Philips


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ResMed: ‘We have clear path to double-digit growth’ 

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ResMed: ‘We have clear path to double-digit growth’ 

April 30, 2021Liz Beaulieu, Editor

SAN DIEGO – The odds were against ResMed in a number of ways in the third quarter of fiscal year 2021, but the company expects a rebound in the next several quarters.  ResMed’s third quarter is typically slower due to insurance deductibles resetting in March, then the company faced a tough comparable – it generated $35 million in COVID-related revenues in the same quarter last year that haven’t been sustained.  “As we look further forward, we...

CPAP, Home Respiratory Equipment, Mick Farrell, ResMed


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Scottish designer wins $1M to develop smart chair

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Scottish designer wins $1M to develop smart chair

April 29, 2021Tracy Orzel

FORRES, Scotland – Phoenix Instinct was recently named the winner of Toyota’s Mobility Unlimited Challenge, a three-year long contest meant to drive innovation in the field of assistive technologies, for its intelligent ultra-light carbon fiber wheelchair. The small, Scotland-based company beat out more than 80 teams from 28 countries around the world for the title and—more importantly—the $1 million prize to further develop its Phoenix i, which continuously adjusts its own...

Phoenix Instinct


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Philips reports possible safety issue

April 27, 2021HME News Staff

CAMBRIDGE, Mass. – Philips has determined from user reports and testing that there are possible risks to users related to the sound abatement foam used in certain of the company’s sleep and respiratory care devices.  “The risks include that the foam may degrade under certain circumstances, influenced by factors including use of unapproved cleaning methods, such as ozone, and certain environmental conditions involving high humidity and temperature,” the company stated...

CPAP device, DreamStation, Philips, safety


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