VieMed Healthcare, Inc. (the “Company” or “VieMed”) (TSX: VMD.TO and NASDAQ:VMD), a home medical equipment supplier that provides post-acute respiratory care services in the United States, announced an innovative alliance with Commonwealth Primary Care ACO, LLC (“Commonwealth”) to bring VieMed’s best-in-class home respiratory equipment, services and technologies to Commonwealth’s independent physicians and the patients they serve.
VieMed has a primary focus on Non-Invasive Ventilation at home (NIVH) and recently announced a completed NIVH study led by Dr. William Frazier, VieMed’s Chief Medical Officer. The study evaluated clinical outcomes in COPD patients with chronic respiratory failure (COPD-CRF) treated with NIVH compared to similar patients with COPD-CRF who did not receive NIVH.
The highlights of the results are as follows:
- The group treated with NIVH had a 50% decrease in all-cause mortality during the study period
- The group treated with NIVH had a 28% decline in the risk of hospitalizations
- The group treated with NIVH had a 52% reduction in the risk of an emergency room visit
Along with NIVH, VieMed’s care model includes supplemental oxygen testing and supplies, remote physiological monitoring, and sleep apnea care programs. VieMed has become a national leader in respiratory care management by integrating a high-touch service model with respiratory equipment. By putting patients first and investing in its employees, technologies and processes, VieMed’s care model maintains some of the lowest COPD hospital readmission rates. Accordingly, VieMed is an important component in Commonwealth’s strategy to further improve its already exceptional all-cause unplanned admission rates.
The alliance with VieMed is expected to bring Commonwealth’s independent physicians patient care that is differentiated through high-touch, personalized, respiratory disease management. VieMed is expected to further Commonwealth’s mission to provide exceptional health care outcomes and patient satisfaction, while providing systemic savings.
Services to Commonwealth patients will now include:
- 24/7 on-call support from COPD-certified Respiratory Therapists
- Remote Physiological Monitoring and Patient Engagement technologies
- In-home, personalized assessments, equipment setups, care plans, and education
- Integrated Chronic Care Management
- Transitional care and compliance programs to optimize adherence and reduce readmissions
Commonwealth’s physicians and patients will also benefit from sleep testing administered in the patient’s home offered through Home Sleep Delivered (“HSD”), a VieMed subsidiary. HSD is a significant provider of home sleep tests and offers safety, convenience, savings, and continuity of care through innovations such as disposable home sleep tests, referrals for Auto-PAP therapy, and robust remote support for care management and resupplies.
“Commonwealth’s alliance with VieMed creates an outstanding opportunity for us to bring exceptional independent physician care to their respiratory patients. VieMed is driving change in our organization with proven results and I’m excited to see the difference they can make with our patients in Arizona,” said Lance Donkerbrook, CEO of Commonwealth.
VieMed’s CEO, Casey Hoyt, believes the alliance between VieMed and Commonwealth can have a real impact in Arizona, “Commonwealth ACO has done a tremendous job providing their member physicians the proper balance between quality healthcare and cost. I’m excited to see the value VieMed can add to their network and the impact our proven care-continuum can have on their patients.”
About VieMed Healthcare, Inc.
VieMed, through its indirect wholly owned subsidiaries Sleep Management, L.L.C. and Home Sleep Delivered, L.L.C., is a home medical equipment supplier that provides post-acute respiratory care services in the United States. Sleep Management, L.L.C. focuses on disease management and improving the quality of life for respiratory patients through clinical excellence, education, and technology. Its service offerings are based on effective home treatment with respiratory care practitioners providing therapy and counseling to patients in their homes using cutting edge technology. Home Sleep Delivered, L.L.C. focuses on providing in-home sleep testing for sleep apnea sufferers. Visit our website at www.viemed.com or https://homesleepdelivered.com/.
About Commonwealth Primary Care ACO, LLC
Commonwealth is based in Tempe, AZ and is a collaboration of independent providers who seek to enhance the quality of healthcare while decreasing costs and improving outcomes for patients in Arizona. Commonwealth is primary care based, owned, operated, and governed. Implementation of innovative care programs will assure the continuous success of its independent offices and for the benefit of the patients it serves. To accomplish this, Commonwealth provides not only business support and best practices, it also collects and analyzes data that helps physicians coordinate care and increase communication. Commonwealth operates as a federally chartered Accountable Care Organization serving the greater Phoenix metropolitan area, Flagstaff, Tucson and throughout AZ as a participant in the Medicare Shared Savings Program.
For further information, please contact:
Glen Akselrod
Bristol Capital
905-326-1888
[email protected]
Todd Zehnder
Chief Operating Officer
Viemed Healthcare, Inc.
337-504-3802
[email protected]
Forward-Looking Statements
Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” as such term is defined in applicable Canadian securities legislation (collectively, “forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “potential”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “projects”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “will”, “should”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business, market and economic conditions in the regions in which the Company operates; the impact of the COVID-19 pandemic and the actions taken by governmental authorities, individuals and companies in response to the pandemic on our business, financial condition and results of operations, including on the Company’s patient base and revenues, employees, and equipment and supplies; the Company may be subject to significant capital requirements and operating risks; the ability of the Company to implement business strategies and pursue business opportunities; volatility in the market price of shares in the capital of the Company; the Company’s novel business model; the risk that the clinical application of treatments that demonstrate positive results in a study may not be positively replicated or that such test results may not be predictive of actual treatment results or may not result in the adoption of such treatments by providers; the state of the capital markets; the availability of funds and resources to pursue operations; decline of reimbursement rates; dependence on few payors; possible new drug discoveries; dependence on key suppliers; granting of permits and licenses in a highly regulated business; competition; low profit market segments; disruptions in or attacks (including cyber-attacks) on the Company’s information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations; difficulty integrating newly acquired businesses; the impact of new and changes to, or application of, current laws and regulations; the overall difficult litigation and regulatory environment; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the impact of the previously disclosed restatement and correction of the Company’s previously issued financial statements; the previously disclosed identified material weakness in the Company’s internal control over financial reporting and the Company’s ability to remediate that material weakness; the initiation of legal or regulatory proceedings with respect to the restatement and corrections; the adverse effects on the Company’s business, results of operations, financial condition and stock price, as a result of the restatement and correction process; the Company’s status as an emerging growth company and a foreign private issuer; and the occurrence of natural and unnatural catastrophic events or health epidemics or concerns, such as the recent COVID-19 pandemic, and claims resulting from such events or concerns; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and with the securities regulatory authorities in certain provinces of Canada available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
Recent Comments