Vapotherm Provides Business Update in Response to COVID-19 Pandemic
March 23 2020 - 5:06PM
Business Wire
- Hi-VNI® Technology is a first-line therapy in treating
COVID-19 patients in respiratory distress
- Manufacturing capacity being increased to support
demand
Vapotherm, Inc. (NYSE: VAPO) (“Vapotherm” or the “Company”), a
global medical technology company focused on the development and
commercialization of its proprietary Hi-VNI Technology products
that are used to treat patients of all ages suffering from
respiratory distress, today announced an update on their business
in response to the COVID-19 pandemic.
Vapotherm’s High Velocity Nasal Insufflation (HVNI) Technology,
an advanced form of High Flow Oxygen therapy1, is a first-line
therapy for COVID-19 patients who are struggling to breathe. The
Journal of American Medical Association (JAMA) published research
showing that 19% of COVID-19 patients are in respiratory distress
and need some form of support to get the oxygen they need to stay
alive.2 Our hospital customers are using our technology to support
COVID-19 patients in mild to moderate respiratory distress, so that
they can triage their sickest patients to a limited number of
ventilators.
“At Vapotherm, customers and their patients are our total focus.
Despite the challenging current environment, our entire team is
working to support our hospital customers as they treat COVID-19
patients suffering with respiratory distress,” said Joe Army,
President and CEO of Vapotherm. “We have seen a significant
increase in demand for our products in Europe and have been
preparing for similar increases in the United States. We are
working diligently to increase our production of Precision Flow
systems and disposables for use in treating this global
pandemic.”
The Company has seen significant increase in demand for
Vapotherm Precision Flow® systems and single-use disposables as a
result of COVID-19. The Company has been working to materially
increase production capacity in its facility in New Hampshire,
while ensuring the safety of employees at all times. Vapotherm has
increased the number of production shifts and has identified
additional opportunities to further increase manufacturing capacity
in an effort to keep up with growing demand. This increased
production is putting pressure on our supply chain and the Company
is working with policy makers and suppliers to increase
availability of critical parts to support production at these
higher levels.
Vapotherm, Inc. (NYSE: VAPO) is a publicly traded
developer and manufacturer of advanced respiratory technology based
in Exeter, New Hampshire, USA. The company develops innovative,
comfortable, non-invasive technologies for respiratory support of
patients with chronic or acute breathing disorders. Over 2.1
million patients have been treated with Vapotherm Hi-VNI
Technology. For more information, visit www.vapotherm.com.
Hi-VNI® Technology is mask-free noninvasive ventilation
for spontaneously breathing patients and a front-line tool for
relieving respiratory distress—including hypercapnia, hypoxemia,
and dyspnea. It allows for the fast, safe treatment of
undifferentiated respiratory distress with one user-friendly tool.
Hi-VNI Technology’s mask-free interface delivers optimally
conditioned breathing gases, making it comfortable for patients and
reducing the risks and care complexities associated with mask
therapies. While being treated, patients can talk, eat, drink and
take oral medication.
Website Information Vapotherm routinely posts important
information for investors on the Investor Relations section of its
website, http://investors.vapotherm.com/. Vapotherm intends to use
this website as a means of disclosing material, non-public
information and for complying with Vapotherm’s disclosure
obligations under Regulation FD. Accordingly, investors should
monitor the Investor Relations section of Vapotherm’s website, in
addition to following Vapotherm’s press releases, Securities and
Exchange Commission filings, public conference calls, presentations
and webcasts. The information contained on, or that may be accessed
through, Vapotherm’s website is not incorporated by reference into,
and is not a part of, this document.
1. High Flow Oxygen therapy is also commonly referred to as High
Flow Nasal Cannula, High Flow Nasal Oxygen, High Flow Therapy, and
other similar formulations.
2. Wu Z, McGoogan JM. Characteristics of and Important Lessons
From the Coronavirus Disease 2019 (COVID-19) Outbreak in China:
Summary of a Report of 72314 Cases From the Chinese Center for
Disease Control and Prevention. JAMA. 2020.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200323005691/en/
Investor Relations Contact: Mark Klausner or Mike Vallie,
Westwicke, an ICR Company, ir@vtherm.com, +1-(603)-658-0011
Media Contact: Terri Clevenger, Westwicke, an ICR
Company, pr@vtherm.com, +1-(603)-658-0011
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