SomnoMed CO-CEOs Amrita Blickstead and Karen Borg talked with Proactive live from the ASX SMIDcaps Conference about the company’s performance and opportunities in the global sleep apnea treatment market.
The company, which develops proprietary oral appliances for obstructive sleep apnea, is seeing significant demand as patients seek alternatives to traditional CPAP therapy. “About 60% of people fail to be able to use actual CPAP therapy because it’s quite invasive,” Borg explained.
SomnoMed’s devices offer a less intrusive solution and are distributed through dental channels in 28 countries, with strong uptake in the United States and Western Europe.
The co-CEOs discussed a major tailwind from the rising use of GLP-1 therapies for weight loss, which is pushing more patients to explore alternative sleep apnea treatments. Increased public awareness of sleep wellness through apps and consumer health trends is also fueling demand.
To meet this growth, Blickstead said their immediate focus was on ensuring “the right foundation for profitable growth.” This included strengthening the company’s financial base, reducing costs, paying down debt, and investing heavily in manufacturing.
Production capacity has increased by over 40%, with revenue up 19% year-on-year and EBITDA for the first half reaching AU$5.80 million, compared to a AU$1.10 million loss previously. Despite these gains, Blickstead noted they are still “chasing our tails and trying to make enough product to continue to grow this business.”
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