Collaboration Will Endeavor to Reach Millions Suffering from Undiagnosed and Untreated Sleep Apnea Sufferers
CAESAREA, Israel and PETERBOROUGH, N.H., Dec. 04, 2019 (GLOBE NEWSWIRE) -- Itamar Medical Ltd. (Nasdaq: ITMR) (TASE: ITMR), ( “Itamar Medical”) a company that develops, manufactures and markets non-invasive ambulatory diagnostic medical devices for sleep apnea and offers Total Sleep Solution using a cloud based digital health platform, and SoClean Inc., a company that develops, manufactures and markets sleep equipment sanitizers through direct-to-consumer (DTC) channels to the sleep apnea market, today announced a collaboration agreement between their respective wholly owned subsidiaries to make Itamar Medical’s WatchPAT ONE home sleep apnea test and Digital Health Services available to consumers. The collaboration is designed to overcome the barriers to sleep apnea testing and therapy solutions by enabling consumers to purchase remote sleep consultations and home-based sleep test using the WatchPAT ONE in the comfort of their own homes.
WatchPAT ONE is the first and only disposable home sleep apnea test (HSAT) cleared by the FDA. WatchPAT ONE provides an automated and comprehensive sleep report for interpretation and is simple to use with logistical advantages that are uniquely suited to the DTC market.
Under the terms of the collaboration agreement, SoClean’s Subsidiary ("SoClean") will have exclusivity to market and sell the WatchPAT ONE to the DTC Segment in the United States, subject to purchasing certain minimum quantities. SoClean will have exclusive DTC rights in the U.S. through any and all marketing and sales channels, excluding healthcare providers and facilities and SoClean parent company has agreed to guarantee the performance of the collaboration by its subsidiary. SoClean plans to announce further details regarding its home sleep apnea testing service in Q1 2020.
Itamar Medical to Present at the Piper Jaffray 31st Annual Healthcare Conference
Gilad Glick, President and Chief Executive Officer of Itamar Medical, will participate in a fireside chat at the Piper Jaffray 31st Annual Healthcare Conference in New York, NY, today, December 4, 2019 at 4:30 PM ET.
A live and archived webcast of the presentation will be available on the investor events section of the Company’s website at: https://www.itamar-medical.com/investors-events/.
About Itamar Medical Ltd.
Itamar Medical is engaged in research, development, sales and marketing of non-invasive medical devices for the diagnosis of respiratory sleep disorders and uses a digital healthcare platform to facilitate the continuum of care for effective sleep apnea management with a focus on the cardiology market. Itamar Medical offers a Total Sleep Solution to help physicians provide comprehensive sleep apnea management in a variety of clinical environments to optimize patient care and reduce healthcare costs. Its flagship PAT®-based product, the WatchPAT™ device, is a home-use diagnostic device for sleep breathing disorders. Its digital health platform, including CloudPAT™ and SleePATH™, facilitates seamless and complete care pathway management in a complex environment. Itamar Medical also offers the EndoPAT™ system, an FDA-cleared device to test endothelial dysfunction and to evaluate the risk of heart disease and other cardiovascular diseases. Itamar Medical is a public company traded on the Nasdaq and on the Tel Aviv Stock Exchanges, and is based in Caesarea, Israel with U.S. headquarters based in Atlanta, GA. For additional information visit www.itamar-medical.com.
About SoClean
SoClean Inc. is the creator of the world's first automated sleep equipment cleaner and sanitizer, an innovative device that naturally sanitizes sleep equipment without the need for disassembly, water or harsh chemicals. It's the safer, healthier way to breathe cleaner and have a better sleep experience. For more information, visit http://www.soclean.com.
Forward-Looking Statements
This Press Release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. For example, when we discuss potential outcomes and growth opportunities which may arise out of the collaboration between Itamar Medical and SoClean, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks, uncertainties and assumptions, including events and circumstances out of the Company's control and actual results, expressed or implied by such forward-looking statements, could differ materially from the Company's current expectations. Factors that could cause or contribute to such differences include, but are not limited to, risks, uncertainties and assumptions discussed from time to time by the Company in reports filed with, or furnished to, the U.S. Securities and Exchange Commission (“SEC”) and the Israel Securities Authority (“ISA”), including the Company’s latest Form 20-F which is on file with the SEC and the ISA. Except as otherwise required by law, the Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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Itamar Medical Company Contact
Itamar Medical Ltd.
Shy Basson
Chief Financial Officer
Phone: +972-4-617-7700
bshy@itamar-medical.com
Itamar Medical Investor Relations Contact (U.S.)
Lazar FINN Partners
David Carey
Phone: 212-867-1762
david.carey@finnpartners.com