RHINOMED TAKES BIG APPLE IN US SLEEP MARKET PUSH
Written on the 9 May 2016
A MELBOURNE snoring and sleep aid invention will expand its reach in the US after securing a deal under the Walgreens Boots Alliance.
Rhinomed's (ASX:RNO) sleep quality device Mute will be launched in Duane Reade pharmacies across Manhattan this week.
Made from ultra-soft medical grade polymers, Mute is placed inside the nose and helps snorers keep their mouths closed while asleep and breathe easier.
Rhinomed CEO Michael Johnson says the distribution deal is a major coup for the company following three years of development.
Duane Reade is one of the largest pharmacy chains in the US and represented in 25 countries under the US$100 billion Walgreens Boots Alliance.
"Our goal is to change the way the world breathes, with a suite of products that empower individuals and deliver solutions which they embrace," Johnson says.
"We're witnessing a significant emotional response from customers to this product, because they have either snored or had to deal with a snoring partner for many years.
"Many others find breathing through their nose very difficult due to chronic nasal congestion of nasal obstructions caused by deviated septums or broken noses.
"The impact when they first place a Mute into their nose is quite compelling."
Rhinomed has secured a number of international distribution deals for Mute in the past 12 months, including Boots in the UK and Ireland, McArthur Medical in Canada, Europa Sports and sporting stores in the US.
The company is poised to capitalise on a growing industry, with global spending on sleep related products worth more than US$32 billion annually according to IMS Health.
"Compliance is a key industry challenge and the market is crying out for a consumer-focused approach," Johnson says.
"Letting people try the product themselves makes our job easier. The change is instant and utterly recognisable."
Rhinomed plans to boost its foothold in America, as well as explore opportunities in Europe and Asia.