In brief: NovaSom files for bankruptcy, Cape Medical makes buy

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Friday, August 16, 2019

GLEN BURNIE, Md. – VirtuOx is seeking to acquire the assets of NovaSom, which filed for Chapter 11 Aug. 2.

Per the court documents, filed in the United States Bankruptcy Court for the District of Delaware, NovaSom seeks to sell virtually all of its assets to VirtuOx through a stalking horse auction; the estimated purchase price is $5.3 million.

NovaSom, a provider of home sleep testing, was founded in 1992 and manufactures the AccuSom, which features continuous patient support and next-day test results. Its backers include TPG Biotech and Johnson & Johnson.

In its court filing, the company indicated assets of between $1 million and $10 million, and liabilities of between $10 million and $50 million.

In August, the Baltimore Business Journal reported that NovaSom would shut down its Glen Burnie headquarters, effective Sept. 1, affecting nearly 170 employees.

The anticipated sale date is Sept. 27.

Cape Medical acquires sleep division of Enos Home Medical

SANDWICH, Mass. – Cape Medical Supply has acquired the sleep therapy assets of New Bedford, Mass.-based Enos Home Medical.

“We are very excited to expand our patient volumes in southeastern Massachusetts and Rhode Island,” said Gary Sheehan, president and CEO of CMS. “We continue to partner with leading healthcare organizations across New England and leading health insurance providers in this marketplace.”

Enos, which sold its ventilation therapy business to Norwood, Mass.-based Reliable Respiratory in *2018, has been focusing on its hospice business, says President Jonathan Enos.

“We continue to focus our efforts on building the premier hospice partnership service in New England,” he said. “Cape Medical has a wonderful sleep therapy program and we are confident our patients will be well cared for. We can now narrow our focus and continue to build on the part of our organization that we see as vital to the future.”

The family-owned Cape Medical, founded in 1977 by Mark and Nancy Sheehan, also operates in New Hampshire and Maine.

For the past decade it has focused on enhancing its sleep therapy program, says Sheehan.

“Our focus on digital solutions yields a very positive patient experience and we are very proud of our sleep therapy outcomes—our focus on data delivers healthier, more engaged and satisfied patients.”

INC. 5000: StateServ-Hospicelink, 3B Medical, Sunset Healthcare

YARMOUTH, Maine – Several HME-industry companies have made Inc. Magazine’s annual list of America’s fastest-growing companies. StateServ-Hospicelink (3089) made the list for the fourth time. The Birmingham, Ala.-based provider has a three-year revenue growth of 120% and serves more than 125,000 patients daily…3B Medical (1797) reported a three-year growth of 311%. The Winterhaven, Fla.-based company manufactures sleep, oxygen and disinfection products…Sunset Healthcare (1872) made the list for the eighth time. The Chicago-based manufacturer of home medical supplies has recently added two new products to its respiratory line, the Mini Mesh Nebulizer and the SperaChamber.

NSM expands in western Canada…

NASHVILLE, Tenn. –SelfCare is expanding into Abbotsford, British Columbia, said parent company National Seating & Mobility, which acquired the Vancouver-based provider earlier this year. Jason Clarke, former owner of Ability in Motion, will join the staff at the new location as an RTS. “As we continue our growth into Canada, we’re proud to partner with industry leaders who are deeply rooted in their communities,” said Bill Mixon, NSM CEO. “We’re pleased to add Jason to our team.” NSM has been focused on growing its presence in western Canada.

…taps new regional director

NSM has named Darryl Mackie as regional area director of Western Canada. Mackie will be responsible for growing NSM’s presence in the region. “Darryl has earned a strong reputation as an industry leader in Canada,” said Bill Mixon, NSM CEO. “His proven experience coupled with a passionate commitment to serve those in need of mobility solutions, make him an ideal choice to lead our branches and support our continued growth in the Western provinces.” Mackie previously owned SelfCare Home Health Products.

1800CPAP.com revamps website

MAINEVILLE, Ohio – 1800CPAP.com has revamped its website to improve functionality and give users a better shopping experience. “Our product pages offer greater detailed content as well as improved images to help CPAP users find the exact product that fits their individual needs," said Jason Crowe, Ohio Sleep Awareness CFO. The new platform has faster page loads and easy navigation. 1800CPAP.com, which launched in 2009, offers a wide range for CPAP machines and masks, as well as a home sleep testing kit.

Inspire rebrands with new website and ad campaign

MINNEAPOLIS – Inspire Medical Systems, a medical technology company that offers minimally invasive solutions for patients with sleep apnea, has a new brand and a new website, inspiresleep.com. The company has also launched a new advertising campaign featuring TV, radio, social and digital ads to demonstrate “how simple it is to get relief from sleep apnea with just the click of a remote.” “While our name and focus on patient outcomes remain the same, our brand identity and website have evolved to ensure prospective patients can easily learn about our innovative sleep apnea treatment,” says Tim Herbert, president and CEO. Inspire’s therapy is an FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.

DASCO partners with health network

HUNTINGTON, W.Va. – DASCO Home Medical Equipment has partnered with Mountain Health Network to provide DME and respiratory equipment, including oxygen, CPAP and non-invasive ventilators and nebulizers to patients in West Virginia and Ohio, according to the Herald-Dispatch. “This agreement helps us improve the continuum of quality care for our patients and offer a choice after they leave our facilities,” said Michael Mullins, president and CEO of Mountain Health.

AAHomecare clarifies EVV requirements: They don’t apply to DME

WASHINGTON – New guidance issued by CMS on electronic visit verification requirements for certain Medicaid services does not apply to durable medical equipment, according to a bulletin from AAHomecare. The issue first came to the association’s attention when the state of Minnesota issued guidance that this requirement would apply to DME.  AAHomecare followed up with CMS to clarify the issue and educated agency staff on the significant differences between home-health visits and equipment delivery/set-up.

Amoena launches line of shapers

ATLANTA – Amoena has launched its Balance portfolio, a line of premium prosthetic breast shapers to help survivors restore their body symmetry after treatment. The line includes a range of shapes, sizes, weights and thicknesses, made of high-quality silicone. Unlike a full prosthetic, the shapers can compensate for missing tissue. “Amoena’s mission is to be
a trusted partner in supporting women’s confidence, and we understand that breast asymmetry can impact a woman’s self-esteem,” said Kevin Ostwald, president. “With our Balance shapers, we hope to help more women achieve a symmetrical look in any outfit, no matter the size or shape of their breasts.”

Correction

Hillrom has agreed to acquire Irvine, Calif.-based Breathe Technologies, a manufacturer of patented, wearable non-invasive ventilators, for $130 million. Breathe, an IDTF based in Overland Park, Kan., has not been sold.