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SomnoMed accelerates third quarter global unit sales

Highlights for the third quarter ending 31 March 2008:
· Accelerated growth of 96% in the volume of devices sold this quarter
· US unit sales up 136% compared to same quarter last year
· Strong cash position of $5.8 million
30 April 2008, Sydney: SomnoMed Limited (ASX: SOM), a leader in the treatment of sleep apnea
and snoring, today announced that it sold 1,809 MAS devices worldwide in the third quarter of the
07/08 financial year, up 96 percent compared to the same period in the previous year. SomnoMed
makes and sells a dental device called the SomnoMed MAS (Mandibular Advancement Splint)
which effectively prevents sleep apnea and snoring in mild to moderate cases.
Volume of units sold in the USA increased 136 percent compared to the same quarter in the last
financial year. The company’s strong business development in this geographical region has
contributed 61 percent of the total sales achieved this quarter. The United States is the largest
market for sleep dental devices. Sleep apnea affects up to 18 million people in the USA, with
nearly 85% of them undiagnosed and untreated.
SomnoMed added momentum to their European expansion with the appointment of four
distribution partners (announced 19.03.2008). These partners are prominent dental laboratories
and market leaders in the sleep dental area in their respective countries. For the third quarter, the
EU region contributed nearly nine percent in unit sales.
Ralf Barschow, chief executive officer of SomnoMed said, “We are pleased to see the US market
gaining speed this rapidly. There is a huge untapped market in North America. By signing licensing
agreements and distribution deals, we want to position the SomnoMed MAS as the best alternative
to CPAP* for the treatment of sleep apnea and snoring.”
“We have a rigorous expansion strategy in place. With the appointment of key personnel and the
signing of distribution agreements with market leaders around the world, we are confident that
revenues will grow at a terrific rate for the coming quarters.”
SomnoMed had a total of $5.8 million in cash available at the end of March 2008. The Company
has a strong balance sheet with no interest bearing liabilities.
A major milestone was reached in January 2008 with FDA approval for the new polymer, SMH
BFlex soft material, which will be used in the USA to make dental sleep devices. This significant
approval also allows for the material to be marketed broadly to other dental and medical device
companies around the USA, potentially creating a different revenue stream.
SomnoMed will benefit significantly from the decision by American-based Centers for Medicare and
Medicaid Services (CMS), announced 17 March 2008, to subsidise medical devices that are
prescribed on the basis of data collected from home testing kits. This will lead to a general increase
in the demand for treatment of obstructive sleep apnea. The SomnoMed dental sleep apnea device
is the best alternative to the often cumbersome CPAP therapy.
*CPAP: continuous positive airway pressure