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Ventus Medical Gets Serious Cash Infusion - $40 Million
Ventus Medical is the maker of the Provent nasal device which has been getting a lot of positive buzz lately:
PE Hub -- Ventus Medical, a Belmont, Calif.-based medical device maker focused on obstructive sleep apnea, has raised $40 million in Series D funding. No investors were listed, but past backers include Mohr Davidow Ventures, De Novo Ventures and Johnson & Johnson Development Corp. In other company news, former Bayer Healthcare exec Peter Wyles has joined Ventus Medical as president and CEO.
Views: 170
Replies to This Discussion
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Permalink Reply by Rooster on
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Mike, Do you think they will use this money on a new advertising campaign whose theme is, "CPAP is a gas mask-like device which forces air into the lungs of apnea suffers through a mask or a nose appliance"?
:):):)
Just kidding. You are doing a good job of keeping us informed. The Provent device is very interesting. I wonder how much a year's supply costs?
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Permalink Reply by Mike on
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ha ha. yeah, it's possible ;-) in all seriousness, it seems as if they've dumped a boat load of money into just developing and getting this thing to market, since this is a Series D financing -- meaning they've already had 3 prior rounds of financing -- Series A, Series B and Series C -- each raising millions you can be sure. yet, i don't think they've spent much at all on marketing/ advertising. you can tell by the way so many of us scratch our heads and say, Provent?, What the heck is that?
on the cost, it's still not covered by insurance as far as i know, so even though as an absolute number it's tons cheaper than CPAP... it might be MORE expensive to us patients whose insurances cover CPAP but not the Provent device. that's the messed up world of health care for ya.
Rooster said:Mike, Do you think they will use this money on a new advertising campaign whose theme is, "CPAP is a gas mask-like device which forces air into the lungs of apnea suffers through a mask or a nose appliance"?
:):):)
Just kidding. You are doing a good job of keeping us informed. The Provent device is very interesting. I wonder how much a year's supply costs?
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Permalink Reply by Banyon on
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I am self-pay by choice. Took out an insurance policy where the first $37,000 each year is out of my pocket. I don't have to mess with the damn system unless something major happens.
My wild guess is a year's supply of those devices is in the area of $2000.
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what's your premium on a policy like that, Banyon, if you don't mind sharing? and how can other people who want that kind of policy get it -- what's it called?
Banyon said:I am self-pay by choice. Took out an insurance policy where the first $37,000 each year is out of my pocket. I don't have to mess with the damn system unless something major happens.
My wild guess is a year's supply of those devices is in the area of $2000.
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It is informally called catastrophic health insurance. Lots of insurance companies have them. I have preexisting conditions so my premium is very high. I don't want to quote it because it might discourage others from looking into these policies. With less serious or no preexisting conditions, many people might find one of these policies is quite affordable.
For young people, I recommend looking into a high deductible policy which has a health savings account. You can start to accumulate money in your HSA, with tax benefits, and can end up in good shape as you get older.
Of course the future is totally uncertain now as we have an out-of-control government. They are killing jobs and health care because none of the small businesses know how to plan for the future. The big businesses can deal with slow growth and use the government bureaucracy to their advantage. But it is the small businesses that create jobs and they are currently stifled. Small businesses need a relatively free market to thrive.
Vote for limited-government Constitutionalists for office regardless of their political party affiliation or lack thereof.
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Permalink Reply by Mary Z on
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I just wrote to the Provent people suggesting that they market a trial package of a one week supply
of the Provent Device. This should give us an idea if it would work for us, or might be used in the event of a power loss. I'll let you know if they respond to me.
Mary Z.
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Doubt they'll bite because the device is classified as a "dangerous medical device" even though it's as harmless as a breathe right strip. Bottom line: it requires a doctor prescription.
Mary Z said:I just wrote to the Provent people suggesting that they market a trial package of a one week supply of the Provent Device. This should give us an idea if it would work for us, or might be used in the event of a power loss. I'll let you know if they respond to me. Mary Z.
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Mike, you're probably right. The prescription shouldn't be any problem, but what's really in it for them. It makes too much sense.
Rooster, it's $150/ month with discounts for buying more than a months supply at a time.
I wonder why I can't find any end user reviews, even on their webpage.
Mike said:Doubt they'll bite because the device is classified as a "dangerous medical device" even though it's as harmless as a breathe right strip. Bottom line: it requires a doctor prescription.
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I heard from Ventus Medical. Your doctor needs a special prescription form available though them and he can order a 10 day trial pack for about $15.00. I have contact information- Debbie Heller, 1-888-757-9355 option 2 for your doctor to call.
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So that is $1800 per year. If it worked very well, it would be worth it.
Note that the rebate program expired in January 2010.
In looking at tests of efficacy, http://www.proventtherapy.com/pdfs/pdf01_PatientInstructions.pdf, the device reduce AHI and AI by approximately one-half to one-third.
That is just not good enough for CPAPers!!
On the other hand, some of the subjects had an AHI of zero using the device. So it might be worth trying just to find out if it is highly effective for your particular condition.
The next time I visit my sleep doc, I need to ask her about a prescription for a trial pack.
Looks like the valve is made of a hard plastic and might last a long time. I am already thinking you could remove the valve from the adhesive carrier. Then each night fashion some replacement carriers out of a gentle medical tape and reuse the valve. Might get a year's use out of one trial pack! :):):)
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j n k said:http://www.nytimes.com/2009/05/30/health/30patient.html
Banyon said:It is informally called catastrophic health insurance.
The kids writing that article missed two things.
1. Some of us are perfectly able and willing to shell out the annual out-of-pocket amounts, if needed, in order to avoid high premiums and insurance hassles and restrictions.
2. Some people cannot afford anything but catastrophic insurance.
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