Viemed Healthcare Comments on Competitive Bidding
13 April 2020 - 10:00PM
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 that it supports the recent decision by the Centers for
Medicare and Medicaid Services (CMS), due to the novel COVID-19
pandemic, to remove non-invasive ventilators (NIV) from the next
round of the Competitive Bidding Program (CBP) that was expected to
begin in 2021, as the Company believes that the inclusion of this
life saving device in the program could have had a negative outcome
on patient care that is predicated on frequent and substantial
service.
The Company had prepared for the CBP over the
last year, and had submitted bids in a majority of the areas around
the country. The Company will continue its existing expansion
plan to provide this critical therapy to as many patients as
possible around the country.
“We are excited to see CMS make many changes
during the recent pandemic that we believe will have a positive
impact on patient care,” said Casey Hoyt, Viemed CEO. “We are
extremely pleased with the recent announcement from CMS to remove
NIV from the competitive bidding program which preserves the
reimbursement needed for our Company to continue investing in
patient care. We believe this clearly signals the need to
properly reimburse for clinicians to provide frequent and
substantial service in the home for respiratory patients in order
to prevent another hospital surge. This is a major win for
Viemed’s patients as we will have the resources to continue
developing more critical care solutions aimed at improving patient
quality of life."
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.For further
information, please contact:
Glen AkselrodBristol Capital905-326-1888glen@bristolir.com
Todd ZehnderChief Operating OfficerViemed Healthcare,
Inc.337-504-3802investorinfo@viemed.com
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”, or
“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 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 our previously issued
financial statements; the previously disclosed identified material
weakness in our internal control over financial reporting and our
ability to remediate that material weakness; the initiation of
legal or regulatory proceedings with respect to the restatement and
corrections; the adverse effects on our 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 outbreak, 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
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.
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