Adherium progresses U.S. sales agreement with respiratory device U.S. market leader Monaghan Medical Corporation, a member of the Trudell Medical Group of Companies
Melbourne, Australia – 29 April 2020: Adherium Limited (ASX:ADR), a leader in digital inhaled device adherence, remote monitoring and data management solutions, has signed a heads of terms sales agreement with Monaghan Medical Corporation, a US subsidiary of Trudell Medical Limited, the parent company of a multinational group of leading companies in the medical device and healthcare service sectors, including Trudell Medical International. Monaghan is a leader in the development and manufacture of innovative, high quality, patient-oriented aerosol drug delivery devices and respiratory management solutions in the United States.
This announcement marks a further major step in the execution of the revised commercial strategy for Adherium’s Hailie® platform in the US. The agreement with Monaghan covers specialty sales and complements the recently announced collaboration with the disease management group HGE Health.
“This is a key second commercial announcement for Adherium in the US. With Monaghan working with us in specialty sales and HGE focussing in disease management with payers and providers, Adherium has a very strong integrated commercial approach” commented Mike Motion, Adherium’s CEO.
“A definitive agreement with Monaghan has significant financial value” added Mr Motion. “For Adherium, Monaghan will leverage their strong existing customer relationships, particularly in the paediatric setting, alongside developing their reach into specialist centres managing the uncontrolled, severe adult patients. Adding Hailie® to Monaghan’s existing portfolio complements and expands its existing product lines. This includes future provision of sensors with physiological data capture enabling healthcare professionals to be reimbursed for remote patient monitoring under the recently released Current Procedure Terminology (CPT) codes.”
Monaghan has an established and comprehensive sales team working across the US supporting AeroChamber®, Aerobika® and AeroEclipse® device commercialisation.
Given the rapid development of telehealth, currently being particularly accelerated through the COVID-19 pandemic, both companies believe that adding Adherium’s inhaler sensor reporting capability to the Monaghan portfolio is highly commercially attractive and will improve medication adherence in patients with the highest unmet need and resource utilisation, enhancing outcomes and reducing costs to healthcare systems.
“This is a big first step in bringing extended offerings to our current and future customers,” commented Gerald Slemko, CEO of Trudell Medical Limited and President of Monaghan Medical Corporation. “There is a real synergy between the Hailie® platform and the Monaghan portfolio, including our market-leading AeroChamber® brand of respiratory devices. This as a real opportunity especially for uncontrolled, paediatric and adult patients, initially focused in asthma, where there is a high burden of disease and consumption of healthcare time and costs in secondary/tertiary care.”
Trudell Medical Limited is highly committed to Adherium’s success and participated in its recent funding rounds. Trudell holds 17% of Adherium’s issued shares.
Adherium also recently announced its collaboration with Melbourne-based Planet Innovation to develop digital sensors with physiological data capture that will enable physicians to be reimbursed for remotely managing their patients using Hailie® technology.
About Adherium (ASX: ADR)
Adherium is a provider of digital health solutions and a global leader in connected respiratory medical devices, with more than 170,000 sold globally. The company develops, manufacturers and supplies a broad range of connected medical devices for respiratory medications for patients, healthcare providers, pharmaceutical companies, and contract research organisations. Adherium’s Hailie® solution is designed to help patients achieve better adherence and provide visibility to parents, caregivers and healthcare professionals. It does this by tracking medication use and providing access to usage history to better understand patterns in their asthma and COPD and reminding the user with helpful nudges when it is time to take doses when alerts are activated. These tools ultimately enable people who live with asthma or COPD to more easily manage their condition alongside their physician. Learn more at www.adherium.com.
About Monaghan Medical Corporation
Monaghan, which is based in Plattsburgh, NY, is a US market leader in the manufacturing and sales of respiratory devices, including the AeroChamber® brand of valved holding chambers used with metered dose inhalers, which optimises the delivery of inhaled medication to the lungs, the Aerobika® brand of oscillating positive expiratory pressure (OPEP) device that has been designed to address the structural and functional challenges in the airways of patients with COPD and the AeroEclipse® brand of breath actuated nebulizers. Monaghan is a wholly owned subsidiary of Trudell Medical Limited. Trudell traces its roots back to 1922. Today, many of Trudell’s operating subsidiaries operate on a global basis, collectively doing business in over 100 countries around the world. All Trudell companies are focused on understanding the unmet needs of patients and delivering solutions that improve their quality of life. Learn more at www.monaghanmed.com and www.trudellmedicalgroup.com.
The release of this announcement was authorised by the Adherium Board of Directors.
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