Vapotherm's HVT 2.0 System Overcomes Regulatory Hurdles for Entry into South America's Largest Health Care Market
EXETER, N.H., Feb. 29, 2024 /PRNewswire/ -- Vapotherm, Inc. (OTCQX:VAPO), ("Vapotherm" or the "Company"), a global medical technology company specializing in the development and commercialization of its proprietary Vapotherm high-velocity therapy® products for patients of all ages experiencing respiratory distress, is pleased to announce the regulatory approval of the HVT 2.0 system in Brazil.
The therapeutic respiratory devices market in Brazil, valued at USD 302.4 million in 2022, is anticipated to grow at a CAGR of 6.5% from 2023 to 2030.1 With approximately 8 million cases of COPD and a growing aging population, there is an increasing demand for respiratory devices in the country. COPD stands as a significant health concern in Brazil, ranking sixth leading cause of death.2
Joe Army, Vapotherm's President and Chief Executive Officer expressed his optimism, stating, "I'm excited about emerging market growth for Vapotherm. In the third quarter of 2023, we posted 25% global capital equipment revenue growth compared to the third quarter of 2022, partly driven by sales in Brazil. With the approval and subsequent launch of HVT 2.0 in Brazil, we look forward to establishing ourselves as a frontline solution in Latin America."
The mobility of the HVT 2.0 platform, ease of use, multi-functionality, and the upgraded design which freed the device from requiring an external source of compressed air makes HVT 2.0 an ideal respiratory support device for care of patients ranging from pediatric to the elderly. These features facilitate optimal patient care in the most advanced hospitals as well as resource constrained environments.
With the approval of the new system in Brazil, Vapotherm is launching a new Portuguese website and social media campaign. The Company attended in the XXVIII Brazilian Congress of Intensive Care Medicine, the largest event of its kind in Latin America, to collaborate with approximately three thousand clinicians.
About Vapotherm
Vapotherm, Inc. (OTCQX: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 4.2 million patients have been treated with the use of Vapotherm high velocity therapy® systems. For more information, visit www.vapotherm.com.
Vapotherm high velocity therapy is mask-free non-invasive respiratory support and is 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 tool. The HVT 2.0 and Precision Flow systems' 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.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, including statements about the Company's business and growth prospects in Brazil. In some cases, you can identify forward-looking statements by terms such as "expect," "anticipate," "continue," "plan," "intend," "will," or "typically," or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words, and the use of future dates. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement. Applicable risks and uncertainties include the failure of the Company's products to achieve market acceptance or significant market growth in Brazil and the other risks and uncertainties included under the heading "Risk Factors" in Vapotherm's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on February 22, 2024, and in its subsequent filings with the SEC. The forward-looking statements contained in this press release reflect Vapotherm's views as of the date hereof, and Vapotherm does not assume and specifically disclaims any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations Contacts:
John Landry, SVP & CFO, [email protected], +1 (603) 658-0011
http://investors.vapotherm.com/
1 https://www.grandviewresearch.com/industry-analysis/brazil-therapeutic-respiratory-devices-market-report
2 https://pubmed.ncbi.nlm.nih.gov/17416152/
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SOURCE Vapotherm, Inc.