NEW PRAGUE, Minn.--(BUSINESS WIRE)--
Electromed, Inc. (NYSE MKT:ELMD) today announced entry into an agreement with Monaghan Medical Corporation to distribute and sell the Aerobika® Oscillating Positive Expiratory Pressure (OPEP) Device in the United States homecare market. Electromed will begin sales of the Aerobika® OPEP device in targeted geographies in the third quarter of its fiscal 2017, with planned expansion prior to the end of the fiscal year.
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Aerobika® OPEP Device (Photo: Business Wire)
“We are thrilled to expand Electromed’s airway clearance therapy product portfolio and broaden the patient population we serve by offering the Aerobika® OPEP device to the homecare market for the first time,” commented Kathleen Skarvan, President and Chief Executive Officer of Electromed. “The Aerobika® OPEP device is a best-in-class airway clearance therapy for patients with compromised pulmonary function that may not need high frequency chest wall oscillation (HFCWO), which is the therapy delivered by our SmartVest® Airway Clearance System, or qualify for HFCWO reimbursement. Monaghan Medical shares our commitment to a patient-first culture, published evidence, and an unwavering focus on designing, manufacturing and marketing innovative airway clearance products.”
The Aerobika® OPEP device is a drug-free, easy to use, hand-held device with a proprietary pressure-oscillation dynamic that provides intermittent resistance and creates positive pressure and oscillations simultaneously. The Aerobika® OPEP device opens weak or collapsed airways to mobilize and assist mucociliary clearance to the upper airways where it can be coughed out. Clinical evidence demonstrates that using the Aerobika® OPEP device improves the ability to bring up mucus, decreases cough frequency and breathlessness, and increases exercise tolerance resulting in a better quality of life.
Bill Seitz, Vice President of Sales & Marketing at Monaghan Medical, commented, “We are excited about the opportunity to work with Electromed in the homecare market. Electromed has strong relationships with pulmonary clinicians throughout the United States and their business model offers an ideal opportunity for Monaghan Medical to offer its airway clearance product to more patients at home.”
Electromed intends to distribute the Aerobika® OPEP device directly to patients, upon receipt of physician prescriptions. Electromed currently anticipates minimal impact to fiscal 2017 revenues and expenses resulting from the new agreement.
About Electromed, Inc.
Electromed manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest® Airway Clearance System, to patients with compromised pulmonary function. It is headquartered in New Prague, Minnesota and founded in 1992. Further information about Electromed can be found at www.smartvest.com.
About Monaghan Medical Corporation
Monaghan Medical offers aerosol drug delivery devices and respiratory management products, including the AeroEclipse® II Breath-Actuated Nebulizer, AeroChamber® brand of Valved Holding Chambers and the Aerobika® OPEP device. The strength of Monaghan Medical lies in product development around core capabilities in mechanical design complimented by collaboration with a state-of-the-art aerosol research laboratory. Monaghan Medical focuses on developing cost-efficient, outcome-based solutions for its customers. Further information about Monaghan Medical can be found at http://www.monaghanmed.com/.
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