Summary: REMSleep Holdings Inc announced a goal to capture 10% of the CPAP mask market within the next 24 months following the FDA approval of its DeltaWave nasal pillow mask. The company’s CEO says REMSleep aims to improve CPAP therapy compliance by addressing mask discomfort, a primary reason for therapy discontinuation. REMSleep is intensifying its sales and marketing efforts and plans to conduct clinical trials to expand the mask’s applications to conditions like COPD and CHF.
Key Takeaways:
- REMSleep’s DeltaWave nasal pillow mask received FDA 510(k) clearance in July.
- The company has set a goal to capture 10% of the CPAP mask market in the US within the next two years.
- REMSleep intends to conduct FDA clinical trials to prove the efficacy of its masks in providing relief for patients with COPD and congestive heart failure.
REMSleep Holdings Inc, manufacturer of the ResPlus CPAP machines and recently approved DeltaWave CPAP mask, unveiled a corporate goal of capturing 10% of the CPAP mask market within the next two years.
The company announced the goal in a letter to shareholders and interested investors authored by REMSleep Holdings chief executive officer Tom Wood.
The DeltaWave nasal pillow mask, which received US Food and Drug Administration (FDA) 510(k) clearance in July, is designed to provide comfort and breathing ability. As uncomfortable masks may be one of the reasons patients discontinue their therapy, the DeltaWave nasal pillow interface employs fluid dynamics to ensure each breath has adequate airflow to satisfy demand, allowing users to breathe at their normal respiratory rate with no mechanical interruption, according to the company.
“We believe that our patented mask is one of the most important developments in the CPAP market to help sleep apnea patients since Philips Respironics debuted the first CPAP machine in the United States in 1985,” says Wood in the letter. “To the satisfaction of our shareholders, our company is now fully committed to aggressively pursuing a 10% market share of the CPAP mask market in the United States within the next 24 months.”
According to Wood, the company is intensifying sales and marketing efforts, focusing on building strategic relationships with key distributors. He notes that a significant portion of resources is dedicated to educating these distributors, along with medical professionals, about the advantages of the DeltaWave mask over existing options.
“Our core marketing message emphasizes three key points: First, our mask will enhance compliance rates among users who might otherwise discontinue CPAP therapy due to discomfort,” Wood says in the letter. “Second, we aim to be the preferred secondary option if a patient discontinues their initial CPAP therapy. Third, we will ultimately be the first choice among CPAP users.”
Relief for COPD and CHF Patients
Wood notes in the letter that the company’s next-generation masks have demonstrated promising internal indications of relief for individuals with chronic obstructive pulmonary disease (COPD) and/or congestive heart failure (CHF), in addition to sleep apnea. The company intends to conduct formal FDA clinical trials to confirm the effectiveness of REMSleep masks in alleviating COPD and CHF symptoms.
“At present, no CPAP masks on the market address these multiple conditions. Successful clinical trials will provide REMSleep with a competitive edge in a new market for traditional CPAP masks,” Wood says in the letter. “This achievement will be a crucial step in showcasing the superiority of REMSleep products, enhancing sales, marketability, and overall profitability.”
According to Wood, REMSleep has aimed to position itself for acquisition from the beginning. Expanding into this new market is expected to enhance the company’s value and attract potential buyers. REMSleep is in the process of identifying hospitals and sleep centers to conduct these upcoming studies.
The company currently trades on the OTCQB. The company’s number-one financial markets goal is to graduate to Nasdaq within the next two years, according to Wood.
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