RETRANSMISSION: Therma Bright Secures Nationwide U.S. Distribution Partner For Venowave
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has secured a nationwide U.S. distribution partner for its Venowave device. The partner has launched an initial sales program to assess Medicare/Medicaid reimbursement processes. Upon success, the distributor commits to acquire remaining inventory, valued at up to USD $2.38 million in reimbursement.
The Venowave VW5, a FDA-designated Durable Medical Equipment, offers treatment for ten circulatory indications with up to USD $1,199 reimbursement per device. Therma Bright expects its current 2,000-unit inventory to sell quickly, with strong demand for additional orders. The distribution agreement includes favorable payment terms, reflecting confidence in Venowave's market readiness and reimbursement setup.
This partnership is expected to significantly boost Therma Bright's revenue and enhance its market valuation. The company anticipates successful program outcomes, leading to increased monthly Venowave orders and accelerated revenue growth.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ha assicurato un partner distributivo nazionale negli Stati Uniti per il suo dispositivo Venowave. Il partner ha lanciato un programma di vendita iniziale per valutare i processi di rimborso Medicare/Medicaid. In caso di successo, il distributore si impegna ad acquisire il resto dell'inventario, valutato fino a USD $2,38 milioni in rimborso.
Il Venowave VW5, un Dispositivo Medico Durevole designato dalla FDA, offre trattamento per dieci indicazioni circolatorie con rimborso di fino a USD $1.199 per dispositivo. Therma Bright prevede che il suo attuale inventario di 2.000 unità si esaurisca rapidamente, con una forte domanda di ulteriori ordini. L'accordo di distribuzione include condizioni di pagamento favorevoli, riflettendo la fiducia nella prontezza al mercato di Venowave e nel setup di rimborso.
Si prevede che questa partnership possa incrementare significativamente i ricavi di Therma Bright e migliorare la sua valutazione di mercato. L'azienda si aspetta risultati positivi dal programma, portando a un aumento degli ordini mensili di Venowave e a una crescita accelerata dei ricavi.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ha asegurado un socio de distribución a nivel nacional en los Estados Unidos para su dispositivo Venowave. El socio ha lanzado un programa de ventas inicial para evaluar los procesos de reembolso de Medicare/Medicaid. Si tiene éxito, el distribuidor se compromete a adquirir el inventario restante, valorado en hasta USD $2.38 millones en reembolso.
El Venowave VW5, un Equipo Médico Duradero designado por la FDA, ofrece tratamiento para diez indicaciones circulatorias con un reembolso de hasta USD $1.199 por dispositivo. Therma Bright espera que su inventario actual de 2,000 unidades se venda rápidamente, con una fuerte demanda de pedidos adicionales. El acuerdo de distribución incluye términos de pago favorables, reflejando confianza en la preparación del mercado de Venowave y en el sistema de reembolso.
Se espera que esta asociación impulse significativamente los ingresos de Therma Bright y mejore su valoración de mercado. La compañía anticipa resultados exitosos del programa, lo que llevará a un aumento en los pedidos mensuales de Venowave y a un crecimiento acelerado de los ingresos.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF)는 미국 전역에 Venowave 장비의 유통 파트너를 확보했습니다. 파트너는 메디케어/메디케이드 환급 절차를 평가하기 위한 초기 판매 프로그램을 시작했습니다. 성공 시, 유통업체는 최대 USD $2.38 million의 잔여 재고를 인수할 것을 약속합니다.
FDA에서 지정한 내구성 의료기기인 Venowave VW5는 10가지 순환계 질환에 대한 치료를 제공하며, 장치당 최대 USD $1,199의 환급이 가능합니다. Therma Bright는 현재 2,000개의 재고가 강력한 추가 주문 수요에 따라 빠르게 판매될 것으로 예상하고 있습니다. 유통 계약에는 Venowave의 시장 준비 상태와 환급 시스템에 대한 신뢰를 반영한 유리한 지불 조건이 포함되어 있습니다.
이 파트너십은 Therma Bright의 수익을 크게 증가시키고 시장 가치를 향상시킬 것으로 기대됩니다. 회사는 성공적인 프로그램 결과를 예상하며, 이로 인해 월별 Venowave 주문이 증가하고 수익 성장 속도가 가속화될 것으로 보입니다.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) a sécurisé un partenaire de distribution national aux États-Unis pour son appareil Venowave. Le partenaire a lancé un programme de vente initial pour évaluer les processus de remboursement Medicare/Medicaid. En cas de succès, le distributeur s'engage à acquérir le reste des stocks, d'une valeur pouvant atteindre USD $2,38 millions en remboursement.
Le Venowave VW5, un Équipement Médical Durable désigné par la FDA, propose un traitement pour dix indications circulatoires avec un remboursement pouvant atteindre USD $1.199 par appareil. Therma Bright s'attend à ce que son inventaire actuel de 2.000 unités se vende rapidement, avec une forte demande pour des commandes supplémentaires. L'accord de distribution inclut des conditions de paiement favorables, reflétant la confiance dans la préparation du marché de Venowave et le cadre de remboursement.
Ce partenariat devrait considérablement augmenter les revenus de Therma Bright et améliorer sa valorisation de marché. L'entreprise anticipe des résultats positifs pour le programme, conduisant à une augmentation des commandes mensuelles de Venowave et à une croissance accélérée des revenus.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) hat einen landesweiten Vertriebspartner in den USA für sein Venowave-Gerät gesichert. Der Partner hat ein erstes Verkaufsprogramm gestartet, um die Rückerstattungsprozesse von Medicare/Medicaid zu bewerten. Bei Erfolg verpflichtet sich der Distributor, den verbleibenden Bestand im Wert von bis zu USD $2,38 Millionen zu erwerben.
Der Venowave VW5, ein von der FDA als haltbares medizinisches Gerät eingestuftes Produkt, bietet Behandlungen für zehn zirkulierende Indikationen mit einer Rückerstattung von bis zu USD $1.199 pro Gerät. Therma Bright erwartet, dass der aktuelle Bestand von 2.000 Einheiten schnell verkauft wird, da eine starke Nachfrage nach zusätzlichen Bestellungen besteht. Die Vertriebsvereinbarung enthält vorteilhafte Zahlungsbedingungen, die das Vertrauen in die Marktreife von Venowave und die Rückerstattungsregelung widerspiegeln.
Diese Partnerschaft wird voraussichtlich die Einnahmen von Therma Bright erheblich steigern und die Marktbewertung verbessern. Das Unternehmen erwartet erfolgreiche Programmresultate, die zu einer Erhöhung der monatlichen Venowave-Bestellungen und einem beschleunigten Umsatzwachstum führen werden.
- Secured nationwide U.S. distribution partner for Venowave device
- Potential USD $2.38 million in reimbursement value from current inventory
- Up to USD $1,199 reimbursement per device for ten circulatory indications
- Favorable payment terms from distribution partner
- Expected quick sale of current 2,000-unit inventory with strong demand for additional orders
- Anticipated significant boost in revenue and market valuation
- None.
Nationwide partner launches initial Venowave sales program to gauge Medicare/Medicaid reimbursement timelines and billing procedures
Post initial program success, distributor commits to acquire remaining inventory that totals up to USD
Toronto, Ontario--(Newsfile Corp. - August 23, 2024) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX) ("Therma" or the "Company"), a developer and investment partner in a wide range of leading-edge, proprietary diagnostic and medical device technologies, is proud to announce the addition of a new Nationwide U.S. Durable Medical Equipment (DME) distribution partner that has launched an initial Venowave sales program to gauge Medicare/Medicaid reimbursement timelines and billing procedures. Post initial program success, distributor commits to acquire remaining inventory that totals up to USD
With strong distribution network interest, Therma Bright expects its current inventory of 2,000 units-representing up to USD
The new DME partner's program offers favorable payment terms to Therma Bright which reflects the partner's confidence in Venowave, its market readiness, the robust HCPCS reimbursement set-up and the expected reimbursement timing. According to RXVantage "'Days to Pay' from service average 54 days during the miscellaneous HCPCS code period. But, they quickly 'normalize' to under 30 days after the HCPCS code is issued."
"We are thrilled to welcome our Nationwide distribution partner to our team, and look forward to working with them closely on this program to demonstrate to their medical network the speed of reimbursement, as well as our efficient order and delivery process," shared Rob Fia, CEO of Therma Bright. "We expect the program to be successful, leading to a significant increase in Venowave orders on a monthly basis and accelerating our revenue growth."
The Venowave VW5 is a series of compact, battery-operated peristaltic pumps that generate a wave-form motion. When worn below the knee, strapped firmly to the calf, the device results in compression of the calf and consequently an increased upward volumetric displacement of venous and lymph fluid. The 2-pair unit induces improved vascular and lymphatic flow in the lower limbs. Operating with a single rechargeable 1.5 V NiMh AA battery, this FDA-designated Durable Medical Equipment device enables users to receive treatment anywhere while remaining active. The Venowave VW5 assures it can withstand repeated use by successive patients.
HCPCS Level II code E068 qualifies for reimbursement for ten (10) indications, including:
- Prevention of deep vein thrombosis (DVT)
- Management of the symptoms of post-thrombotic syndrome (PTS)
- Prevention of primary thrombosis
- Treatment of lymphedema
- Diminishing post-operative pain and swelling
- Treatment of leg swelling due to vascular insufficiency
- Treatment of varicose veins
- Treatment of chronic venous insufficiency
- Enhancing blood circulation
- Treatment of intermittent claudication
About Therma Bright Inc.
Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.
Therma Bright Inc.
Rob Fia, CEO
rfia@thermabright.com
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FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as future sales of Venowave and related technology as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220910
FAQ
What is the reimbursement value of Therma Bright's current Venowave inventory?
How many circulatory indications does the Venowave VW5 device treat?
What is the maximum reimbursement amount for a single Venowave device?
How will the new distribution partnership affect Therma Bright's (TBRIF) revenue?
