Physio-Assist SAS

– Names Mike Sergesketter as Interim Chief Financial Officer– –Reaffirms 2023 Financial Guidance– GOLETA, Calif.--(BUSINESS WIRE)-- Inogen Inc. (NASDAQ: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced the appointment of Mike Sergesketter as Interim Chief Financial Officer, effective immediately. Mr. Sergesketter last served as Interim Chief Financial Officer of the company between December 2021 and March 2022, and previously served as CFO of Kimball Electronics, Inc. where he was instrumental in helping to develop and execute the company’s globalization strategy while also building a robust finance function to support the company’s growth. He succeeds Kristin Caltrider who has stepped down for personal reasons. Ms. Caltrider’s decision was not related to any disagreements with the Company or its management on any matters relating to the Company’s operations, policies, or practices. The Company has retained a leading executive search firm to help with the search for a permanent replacement. Nabil Shabshab, President and Chief Executive Officer of Inogen, said, “I would like to thank Kristin for her contributions to Inogen and share my optimism for the future of the company as we continue our strategic evolution to become a more prominent player in respiratory care. Mike has brought value to Inogen as an accomplished CFO and partner to me, and I am pleased to welcome him back to the company. His decades of experience across finance, M&A, and strategic manufacturing, as well as his track record of being a partner and advisor cross-functionally are strong assets as we continue to execute against our 2023 plans and prepare for 2024.” Mr. Sergesketter brings over forty years of finance experience in the manufacturing services industry. He brings expertise working across business functions, including with the CEO and Board of Directors, Audit Committee and Compensation and Governance Committee. As part of his role as the CFO of Kimball Electronics, Inc. following its spin-off in 2014 and through June 2021, Mr. Sergesketter led the transformation of the finance and reporting functions to support the newly formed public company, helping to formulate and execute on the strategy that led to global expansion. During his tenure at Kimball Electronics and its predecessors, Mr. Sergesketter had the responsibility for a number of critical finance functions, including SEC reporting, Treasury, Investor Relations, Tax, Financial Planning & Analysis, Internal Audit while playing a leading role in various M&A transactions in the US and abroad. Financial Guidance Inogen is reaffirming expectations for 2023 annual revenue of $315 million to $320 million and Adjusted EBITDA loss of $20 million to $25 million for the full year. About Inogen Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its oxygen therapy products widely available allowing patients the chance to remain ambulatory while managing the impact of their disease. For more information, please visit . Inogen has used, and intends to continue to use, its Investor Relations website, , as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. For more information, visit . Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, Inogen’s expectations for our 2023 revenue and Adjusted EBITDA expectations. Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including but not limited to, risks arising from the possibility that Inogen will not realize anticipated revenue or expenses will not decrease; risks related to cost inflation; the risks our innovation pipeline will not produce meaningful results; risks related to our pending acquisition of Physio Assist including on expenses; the impact of changes in reimbursement rates and reimbursement and regulatory policies; and the possible loss of key employees, customers, or suppliers; the risk that expenses and costs will exceed Inogen’s expectations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the year ended December 31, 2022, its Quarterly Report on Form 10-Q for the calendar quarter ended June 30, 2023, and in its other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Inogen disclaims any obligation to update these forward-looking statements except as may be required by law. Non-GAAP Financial Measures Management believes that non-GAAP financial measures, taken in conjunction with U.S. GAAP financial measures, provide useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of Inogen’s core operating results. Management uses non-GAAP measures to compare Inogen’s performance relative to forecasts and strategic plans, to benchmark Inogen’s performance externally against competitors, and for certain compensation decisions. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Inogen's operating results as reported under U.S. GAAP. Inogen encourages investors to carefully consider its results under U.S. GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between U.S. GAAP and non-GAAP results are presented in the accompanying tables of this release. For future periods, Inogen is unable to provide a reconciliation of non-GAAP measures without unreasonable effort as a result of the uncertainty regarding, and the potential variability of, the amounts of interest income, interest expense, depreciation and amortization, stock-based compensation, provision for income taxes, and certain other infrequently occurring items, such as acquisition-related costs, that may be incurred in the future.

GOLETA, Calif.--(BUSINESS WIRE)-- Inogen, Inc. (Nasdaq: INGN), a medical technology company offering innovative respiratory products for use in the homecare setting, today announced financial results for the quarter ended June 30, 2023. Second Quarter 2023 and Recent Business Highlights All comparisons are to the prior year period unless otherwise noted. Reported total revenue of $83.6 million, reflecting a decrease of 19.1%; currency fluctuations accounted for 0.6% of the decrease. GAAP net loss of $9.8 million, Adjusted net loss of $5.8 million and Adjusted EBITDA loss of $3.2 million. Entered into a share purchase agreement to acquire Physio-Assist to add a sizable, growing, and underserved airway clearance market opportunity in support of the strategy to become a multi-portfolio global respiratory care company. Introduced Inogen® Rove 6™ in the United States, a portable oxygen concentrator now with an 8-year expected service life, further strengthening Inogen’s business-to-business and HME value proposition including a very competitive total cost of ownership. “While disappointed in our second quarter performance, we remain focused on driving execution behind our commercial strategy to continue improving productivity in the direct-to-consumer channel, expanding our presence in the prescriber channel and managing volatility in the lower-margin business-to-business channels,” said Nabil Shabshab, President and Chief Executive Officer. “Importantly, we are making progress on improving Adjusted EBITDA, while making select investments including innovation to organically expand our portfolio in service of new patients and indications beyond COPD. Additionally, the recent agreement to acquire Physio-Assist will allow Inogen to serve patients in need of airway clearance with a clinically differentiated product internationally and eventually in the US. We believe that continued execution behind our commercial and innovation strategies will provide a path to revenue growth in 2024 with a continued focus on a return to profitability.” Second Quarter 2023 Financial Results Second quarter total revenue decreased 19.1% to $83.6 million from $103.4 million in the second quarter of 2022, as higher rental revenue and domestic business-to business sales were more than offset by declines in direct-to-consumer sales and international B2B sales. Total gross margin was 40.7% in the second quarter of 2023 versus 44.7% in the comparative period in 2022. Gross margin declined by 400 basis points as the benefit from lower component costs was more than offset by channel mix and lower average selling prices in the business-to-business segments, namely in the US. Total operating expense, which includes acquisition and restructuring-related costs, was $45.8 million compared to $49.1 million in the second quarter of 2022, representing a decrease of 6.8%. Total operating expense, excluding one-time costs, declined 11.8% due to disciplined focus on aligning the company infrastructure with its strategy and careful cost management. GAAP net loss for the second quarter of 2023 was $9.8 million compared to GAAP net loss of $3.4 million in the second quarter of 2022. Adjusted net loss was $5.8 million compared to Adjusted net loss of $0.4 million in the second quarter of 2022. Adjusted EBITDA was a negative $3.2 million in the second quarter of 2023 compared to a positive $3.2 million in the second quarter of 2022. Cash, cash equivalents and marketable securities were $170.1 million as of June 30, 2023, and no debt outstanding. A reconciliation of Adjusted EBITDA and Adjusted net loss for the three and six months ended June 30, 2023 and 2022 are provided in the financial schedules that are a part of this press release. An explanation of these non-GAAP financial measures is also included below under the heading “Reconciliation of U.S. GAAP to Other Non-GAAP Financial Measures.” Financial Guidance As a result of year-to-date performance and continued pressure in the business-to-business channels, Inogen now expects 2023 annual revenue of $315 million to $320 million and Adjusted EBITDA loss of $20 million to $25 million for the full year. Quarterly Conference Call Information Inogen will issue second quarter 2023 financial results after the market closes on Monday, August 7, 2023. On the same day, the Company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Individuals interested in listening to the conference call may do so by dialing: US domestic callers (877) 841-3961 Non-US callers (201) 689-8589 Please reference Inogen to join the call. To listen to a live webcast, please visit the Investor Relations section of Inogen's website at: . This webcast will also be archived on the website for 6 months. A replay of the call will be available approximately three hours after the live webcast ends and will be accessible through August 14, 2023. To access the replay, dial (877) 660-6853 or (201) 612-7415 and reference Conference ID: 13739327. Inogen has used, and intends to continue to use, its Investor Relations website, , as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. For more information, visit . About Inogen Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its oxygen therapy products widely available allowing patients the chance to remain ambulatory while managing the impact of their disease. For more information, please visit . Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, Inogen’s expectations for improving productivity in the direct-to-consumer channel, expanding our presence in the prescriber channel and managing volatility in the lower-margin business-to-business channels; broadening and diversifying our portfolio through innovation; our 2023 revenue and Adjusted EBITDA expectations. Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including but not limited to, risks arising from the possibility that Inogen will not realize anticipated revenue or expenses will not decrease; risks related to cost inflation; the risks our innovation pipeline will not produce meaningful results; risks related to our pending acquisition of Physio Assist including on expenses; the impact of changes in reimbursement rates and reimbursement and regulatory policies; and the possible loss of key employees, customers, or suppliers; the risk that expenses and costs will exceed Inogen’s expectations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the year ended December 31, 2022, and in its other filings with the Securities and Exchange Commission. Additional information will also be set forth in Inogen’s Quarterly Report on Form 10-Q for the period ended June 30, 2023, to be filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Inogen disclaims any obligation to update these forward-looking statements except as may be required by law. Non-GAAP Financial Measures Inogen has presented certain financial information in accordance with U.S. GAAP and also on a non-GAAP basis for the three and six months ended June 30, 2023, and June 30, 2022. Management believes that non-GAAP financial measures, taken in conjunction with U.S. GAAP financial measures, provide useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of Inogen’s core operating results. Management uses non-GAAP measures to compare Inogen’s performance relative to forecasts and strategic plans, to benchmark Inogen’s performance externally against competitors, and for certain compensation decisions. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Inogen's operating results as reported under U.S. GAAP. Inogen encourages investors to carefully consider its results under U.S. GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between U.S. GAAP and non-GAAP results are presented in the accompanying tables of this release. For future periods, Inogen is unable to provide a reconciliation of non-GAAP measures without unreasonable effort as a result of the uncertainty regarding, and the potential variability of, the amounts of interest income, interest expense, depreciation and amortization, stock-based compensation, provision for income taxes, and certain other infrequently occurring items, such as acquisition-related costs, that may be incurred in the future. Consolidated Statements of Comprehensive Loss (unaudited) (amounts in thousands, except share and per share amounts) Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Revenue Sales revenue $ 68,343 $ 89,291 $ 124,230 $ 156,693 Rental revenue 15,292 14,085 31,567 27,068 Total revenue 83,635 103,376 155,797 183,761 Cost of revenue Cost of sales revenue 42,028 50,661 75,992 90,161 Cost of rental revenue, including depreciation of $3,238 and $2,720 for the three months ended and $6,316 and $5,358 for the six months ended, respectively 7,563 6,457 15,028 12,336 Total cost of revenue 49,591 57,118 91,020 102,497 Gross profit 34,044 46,258 64,777 81,264 Operating expense Research and development 4,293 6,064 9,637 11,428 Sales and marketing 26,906 30,388 55,347 58,427 General and administrative 14,613 12,682 33,476 27,871 Total operating expense 45,812 49,134 98,460 97,726 Loss from operations (11,768 ) (2,876 ) (33,683 ) (16,462 ) Other income (expense) Interest income 1,646 225 3,171 254 Other income (expense) 337 (722 ) 574 (1,155 ) Total other income (expense), net 1,983 (497 ) 3,745 (901 ) Loss before provision for income taxes (9,785 ) (3,373 ) (29,938 ) (17,363 ) Provision for income taxes 41 69 237 293 Net loss $ (9,826 ) $ (3,442 ) $ (30,175 ) $ (17,656 ) Other comprehensive income (loss), net of tax Change in foreign currency translation adjustment 7 (634 ) 177 (837 ) Change in net unrealized gains (losses) on foreign currency hedging 7 (1,204 ) 7 (1,878 ) Less: reclassification adjustment for net (gains) losses included in net income — 606 — 1,206 Total net change in unrealized gains (losses) on foreign currency hedging 7 (598 ) 7 (672 ) Change in net unrealized gains (losses) on marketable securities 64 7 133 (1 ) Total other comprehensive income (loss), net of tax 78 (1,225 ) 317 (1,510 ) Comprehensive loss $ (9,748 ) $ (4,667 ) $ (29,858 ) $ (19,166 ) Basic net loss per share attributable to common stockholders (1) $ (0.42 ) $ (0.15 ) $ (1.31 ) $ (0.77 ) Diluted net loss per share attributable to common stockholders (1) (2) $ (0.42 ) $ (0.15 ) $ (1.31 ) $ (0.77 ) Weighted-average number of shares used in calculating net loss per share attributable to common stockholders: Basic common shares 23,146,117 22,845,040 23,078,244 22,799,981 Diluted common shares 23,146,117 22,845,040 23,078,244 22,799,981 (1) Reconciliations of net loss attributable to common stockholders basic and diluted can be found in Inogen’s Quarterly Report on Form 10-Q to be filed with the Securities and Exchange Commission. (2) Due to a net loss for the three and six months ended June 30, 2023 and June 30, 2022, diluted loss per share is the same as basic. Consolidated Balance Sheets (unaudited) (amounts in thousands) June 30, December 31, 2023 2022 Assets Current assets Cash and cash equivalents $ 167,687 $ 187,014 Marketable securities 2,459 — Accounts receivable, net 51,135 62,725 Inventories, net 30,744 34,093 Income tax receivable 1,821 1,626 Prepaid expenses and other current assets 15,377 19,187 Total current assets 269,223 304,645 Property and equipment, net 49,195 43,269 Goodwill 32,889 32,852 Operating lease right-of-use asset 20,267 21,653 Other assets 2,777 2,622 Total assets $ 374,351 $ 405,041 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued expenses $ 27,612 $ 33,974 Accrued payroll 10,835 11,190 Warranty reserve - current 8,602 7,790 Operating lease liability - current 3,622 3,515 Deferred revenue - current 8,696 8,880 Total current liabilities 59,367 65,349 Warranty reserve - noncurrent 12,596 12,123 Operating lease liability - noncurrent 18,257 19,764 Deferred revenue - noncurrent 9,352 10,399 Total liabilities 99,572 107,635 Stockholders' equity Common stock 23 23 Additional paid-in capital 319,357 312,126 Accumulated deficit (44,675 ) (14,500 ) Accumulated other comprehensive income (loss) 74 (243 ) Total stockholders' equity 274,779 297,406 Total liabilities and stockholders' equity $ 374,351 $ 405,041 Condensed Consolidated Cash Flow (unaudited) (amounts in thousands) Six months ended June 30, 2023 2022 Cash flows from operating activities Net loss $ (30,175 ) $ (17,656 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 8,394 11,608 Loss on rental units and other assets 2,138 1,466 Gain on sale of former rental assets (40 ) (93 ) Provision for sales revenue returns and doubtful accounts 4,488 6,200 Provision for inventory losses 989 1,552 Stock-based compensation expense 6,705 5,685 Change in fair value of earnout liability — (1,411 ) Changes in operating assets and liabilities 5,230 (19,918 ) Net cash used in operating activities (2,271 ) (12,567 ) Cash flows from investing activities Purchases of available-for-sale securities (12,826 ) — Maturities of available-for-sale securities 10,500 9,988 Investment in intangible assets (494 ) — Investment in property and equipment (3,116 ) (2,236 ) Production and purchase of rental equipment (11,810 ) (7,083 ) Proceeds from sale of former assets 96 153 Net cash provided by (used in) investing activities (17,650 ) 822 Cash flows from financing activities Proceeds from stock options exercised 384 35 Proceeds from employee stock purchases 630 915 Payment of employment taxes related to release of restricted stock (488 ) (1,159 ) Net cash provided by (used in) financing activities 526 (209 ) Effect of exchange rates on cash 68 51 Net decrease in cash and cash equivalents $ (19,327 ) $ (11,903 ) Supplemental Financial Information (unaudited) (in thousands, except units and patients) Three months ended Six months ended June 30, June 30, 2023 2022 2023 2022 Revenue by region and category Business-to-business domestic sales $ 18,272 $ 11,212 $ 30,857 $ 16,313 Business-to-business international sales 23,292 37,441 42,264 65,382 Direct-to-consumer domestic sales 26,779 40,638 51,109 74,998 Direct-to-consumer domestic rentals 15,292 14,085 31,567 27,068 Total revenue $ 83,635 $ 103,376 $ 155,797 $ 183,761 Additional financial measures Units sold 34,100 42,400 61,000 72,800 Net rental patients as of period-end 48,900 43,800 48,900 43,800 Reconciliation of U.S. GAAP to Other Non-GAAP Financial Measures (unaudited) (in thousands) Three months ended Six months ended June 30, June 30, Non-GAAP EBITDA and Adjusted EBITDA 2023 2022 2023 2022 Net loss (GAAP) $ (9,826 ) $ (3,442 ) $ (30,175 ) $ (17,656 ) Non-GAAP adjustments: Interest income (1,646 ) (225 ) (3,171 ) (254 ) Provision for income taxes 41 69 237 293 Depreciation and amortization 4,308 5,848 8,394 11,608 EBITDA (non-GAAP) (7,123 ) 2,250 (24,715 ) (6,009 ) Stock-based compensation 3,263 3,020 6,705 5,685 Acquisition-related expenses 467 — 1,021 — Restructuring-related and other charges (1) 201 — 2,010 — Change in fair value of earnout liability — (2,041 ) — (1,411 ) Adjusted EBITDA (non-GAAP) $ (3,192 ) $ 3,229 $ (14,979 ) $ (1,735 ) Three months ended June 30, Net Loss Diluted EPS Non-GAAP Adjusted Net Loss and Diluted EPS 2023 2022 2023 2022 Financial Results (GAAP) $ (9,826 ) $ (3,442 ) $ (0.42 ) $ (0.15 ) Non-GAAP adjustments: Amortization of intangibles 53 2,150 Stock-based compensation 3,263 3,020 Acquisition-related expenses 467 — Restructuring-related and other charges (1) 201 — Change in fair value of earnout liability — (2,041 ) Income tax impact of adjustments (2) — (53 ) Adjusted $ (5,842 ) $ (366 ) $ (0.25 ) $ (0.02 ) Six months ended June 30, Net Loss Diluted EPS Non-GAAP Adjusted Net Loss and Diluted EPS 2023 2022 2023 2022 Financial Results (GAAP) $ (30,175 ) $ (17,656 ) $ (1.31 ) $ (0.77 ) Non-GAAP adjustments: Amortization of intangibles 79 4,297 Stock-based compensation 6,705 5,685 Acquisition-related expenses 1,021 — Restructuring-related and other charges (1) 2,010 — Change in fair value of earnout liability — (1,411 ) Income tax impact of adjustments (2) — (146 ) Adjusted $ (20,360 ) $ (9,231 ) $ (0.88 ) $ (0.40 ) (1) Charges represent the costs associated with workforce reductions and associated costs and other restructuring-related activities. (2) Income tax impact of adjustments represents the tax impact related to the non-GAAP adjustments listed above and reflects an effective tax rate of 0% for 2023 and -1.7% for 2022, which is due to the recording of a valuation allowance. Three months ended June 30, 2023 % Change from Prior Period Three months ended June 30, 2022 2023 FX Effect Constant Currency Revenues As Reported Less FX Effect Constant Currency Revenues Business-to-business domestic sales $ 11,212 $ 18,272 $ — $ 18,272 63.0 % 0.0 % 63.0 % Business-to-business international sales 36,835 23,292 106 23,398 -36.8 % 0.3 % -36.5 % Direct-to-consumer domestic sales 40,638 26,779 — 26,779 -34.1 % 0.0 % -34.1 % Direct-to-consumer domestic rentals 14,085 15,292 — 15,292 8.6 % 0.0 % 8.6 % Revenues, excluding hedging effect $ 102,770 $ 83,635 $ 106 $ 83,741 -18.6 % 0.1 % -18.5 % Hedging gains 606 - - Total Revenues (3) $ 103,376 $ 83,635 $ 83,741 -19.1 % Six months ended June 30, 2023 % Change from Prior Period Six months ended June 30, 2022 2023 FX Effect Constant Currency Revenues As Reported Less FX Effect Constant Currency Revenues Business-to-business domestic sales $ 16,313 $ 30,857 $ — $ 30,857 89.2 % 0.0 % 89.2 % Business-to-business international sales 64,176 42,264 966 43,230 -34.1 % 1.5 % -32.6 % Direct-to-consumer domestic sales 74,998 51,109 — 51,109 -31.9 % 0.0 % -31.9 % Direct-to-consumer domestic rentals 27,068 31,567 — 31,567 16.6 % 0.0 % 16.6 % Revenues, excluding hedging effect $ 182,555 $ 155,797 $ 966 $ 156,763 -14.7 % 0.5 % -14.1 % Hedging gains 1,206 - - Total Revenues (3) $ 183,761 $ 155,797 $ 156,763 -15.2 % (3) Total constant currency revenues of $83,741 for the three months ended June 30, 2023 decreased $19,029 compared to $102,770 in revenues, excluding hedging effect for the three months ended June 30, 2022. Total constant currency revenues of $156,763 for the six months ended June 30, 2023 decreased $25,792 compared to $182,555 in revenues, excluding hedging effect for the six months ended June 30, 2022.

Welcome to the MassDevice Fast Five medtech news podcast, the show that keeps you up-to-date on the latest breakthroughs in medical technology. Here’s what you need to know for today, July 14, 2023. Fast Five by MassDevice · BD discloses 8 cybersecurity vulnerabilities with Alaris, Inogen acquires a company Boston Scientific received FDA approval for image-guided programming software, advancing deep brain stimulation treatments for neurological conditions. Fast Five hosts Sean Whooley and Danielle Kirsh review what the software offers clinicians. Henry Schein recently secured a $750 million credit facility, fueling its growth and ability to provide quality products and services in the medical device industry. Learn about the credit facility’s maturity, what executives are saying, and some of the busy strategic moves the company made earlier this week. Aerin Medical’s treatment for nasal airway obstruction gained support with data validation, offering effective solutions for improved breathing and quality of life. Whooley and Kirsh discuss what VivAer is and some of the key data points from the study and what doctors think of the device. Inogen recently expanded its respiratory care portfolio by acquiring Physio-Assist, a French developer of airway clearance technology. Hear about Physio-Assist’s business and what Inogen’s rationale was behind the acquisition. BD highlighted the importance of medical device cybersecurity, disclosing and addressing eight vulnerabilities in the Alaris infusion systems. The Fast Five hosts explain which devices are included in the vulnerabilities and the rocky history of Alaris pumps in the last few years. Subscribe to the Fast Five daily news podcast on your preferred listening platform. If you’re on a desktop computer, scan the QR code below with your smartphone to easily access the podcast on your mobile device. Apple Podcasts Spotify Google + other platforms SoundCloud Listen to previous episodes here. Related: Click here to sign up for our daily e-newsletter to get all the mission-critical news you need in the medical device industry straight to your inbox.