- Oventus Medical (OVN) has signed new contracts with U.S.-based national durable medical equipment (DME) supplier Connect DME and Australian fatigue risk management group Circadian Australia
- Through the first agreement, Oventus will make its technology available to Connect DME’s customers
- Meanwhile, Oventus will also provide its sleep treatment platform to Circadian’s clients across high-risk areas such as mining, aviation and oil and gas
- On market close, Oventus is down 2.50 per cent and is trading at 19.5 cents per share
Oventus Medical (OVN) has signed new contracts with Connect DME and Circadian Australia.
Connect DME
Oventus, which calls itself an obstructive sleep apnea treatment innovator, has secured a new virtual lab-in-lab agreement with U.S. based national durable medical equipment (DME) supplier Connect DME.
Connect DME is a DME contractor to provide medical equipment to third party administrators (TPA).
Through the new contract, Oventus will make its technology available to members of health plans offered by Connect DME’s customers. Connect DME will also offer Oventus’ homecare oral appliance therapy option to the TPA beneficiaries directly.
The contract is for three years and will be automatically extended for a further three years unless either party terminates the deal.
Circadian Australia
Oventus has also signed a distribution agreement with Circadian Australia, a leader in fatigue risk management.
As poor sleep and fatigue can impact the performance of workers in high-risk situations, Circadian will make Oventus’ sleep treatment platform available to its clients across the mining, aviation, transport, oil and gas, control room operations, and health and professional services.
The agreement will see Oventus technology delivers under the virtual lab-in-lab model for 12 months, with an automatic renewal for successive 12-month
periods.
“The Oventus telehealth model is a game-changer: the O2Vent telehealth technology is going to revolutionise the opportunity for remote workers and FIFO employees to achieve a cost-effective diagnosis, sleep consultation and treatment for sleep apnea,” Circadian Australia Director Mark Holmes said.
Despite this positive news, on market close, Oventus is down 2.50 per cent and is trading at 19.5 cents per share.