Prosomnus rises as snoring device qualifies for Medicare reimbursement

ProSomnus

15/12/2022 18:43

** Shares of medical device maker Prosomnus Inc  OSA.O  rise
7.9% to $5.45
    ** Co announces its sleep and snore device targeting
obstructive sleep apnea (OSA), now qualifies for Medicare
reimbursement
    ** OSA is the most common sleep-related breathing disorder
and is characterized by recurring collapse of airway during
sleep, resulting in oxygen shortages and abrupt awakenings
accompanied by gasping or choking
    ** Co says code verification review procedures required for
Medicare reimbursements have been completed for the device 
    ** Adds medicare beneficiaries account for an estimated 20%
of people in the United States with OSA
    ** Stock down 44.7% YTD
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))