BOTHELL, Wash.--(BUSINESS WIRE)--Ventec Life Systems completed a record-breaking year manufacturing VOCSN critical care ventilators in response to COVID-19. Ventec produced 45,000 ventilators including their historic collaboration with General Motors to deliver 30,000 critical care ventilators to the U.S. Department of Health and Human Services in just 154 days.
The company reported record growth in 2020 as a result of the 80x increase in manufacturing production for the U.S. Federal Government, state governments, hospital systems, long term care facilities, and homecare (DME) companies. Ventec will continue to invest in the company’s future growth, with revenue allocated for continued enhancements to VOCSN Multi-Function Ventilator and the release of VOCSN Multi-View™ cellular, the first and only system to provide complete patient trending and monitoring for ventilator-dependent patients across multiple respiratory therapies.
Key accomplishments toward Ventec’s mission to provide integrated respiratory care to patients and caregivers set the stage for continued growth in 2021 including:
Launched VOCSN Multi-View Digital Health Platform
After the beta launch at the American Association for Respiratory Care (AARC) Congress in 2019, Ventec fully launched VOCSN Multi-View in 2020, the first and only system to provide complete patient trending and monitoring for ventilator users across multiple respiratory therapies. A new dynamic website and cellular capability for remote monitoring will launch in the first half of 2021, building on the integrated multi-therapy delivery of VOCSN. Multi-View is designed to summarize patient data and create trend reports to facilitate informed treatment decisions and care plans, drive proactive interventions, control costs, and deliver seamless care across providers and care environments from hospital to home.
Expanded Access to Integrated Respiratory Care
Ventec worked closely with the Centers for Medicare and Medicaid Services (CMS) to recognize the unique opportunity to replace multiple pieces of respiratory equipment with VOCSN, and created the first HCPCS code for a Multi-Function Ventilator. VOCSN is the only device that qualifies for this new code - HCPCS E0467 - which is available to any patient that requires a ventilator and one additional VOCSN therapy (oxygen, cough, suction, or nebulizer). With changes to E0467 in May 2020 and December 2020, VOCSN is now accessible to all ventilator users regardless of current or past device use and patients can now qualify for a second VOCSN in the home. E0467 is billable under 47 state Medicaid plans, most private insurers, and TRICARE.
Introduced Integrated High Flow Therapy
Ventec added a sixth respiratory therapy with the launch of VOCSN High Flow therapy, a vital tool for healthcare professionals using VOCSN to treat patients battling COVID-19. This additional therapy is enabled with a free software update and provides caregivers and healthcare professionals an additional option to meet a patient’s evolving respiratory needs by combining invasive and non-invasive ventilation and High Flow therapy for patients from hospital to home with a single device. High Flow therapy is now part of the standard of care for COVID-19 patients, and the U.S. Department of Health and Human Services (HHS) awarded Ventec with a $75 million contract for High Flow therapy kits to ensure all 30,000 VOCSN V+Pro critical care ventilators deployed by the Strategic National Stockpile can support High Flow therapy.
Expanded Training: In-Person, Online-On Demand, Live Virtual Training for CEU Credit
The Ventec Clinical Team adapted to the demands of 2020 by adding new options for training to make it even easier to learn how to provide integrated respiratory care with VOCSN. The team added a self-paced online course to allow busy healthcare professionals learn as their schedule permits. Additional options for on-demand Zoom training and careful in-person training options hosted by Ventec Clinical Specialists added more options than ever before. Throughout 2020, Ventec has hosted more than 2,300 hours of Zoom and in-person training, leading to over 1,000 hours of Continuing Respiratory Care Education credits accredited by the American Association for Respiratory Care (AARC). Ventec also expanded access to live one-on-one clinical support available 24/7 by phone and email, providing support to over 500 clinicians using VOCSN to support patients.
Increased Monthly Manufacturing 80x
After partnering with General Motors (GM) in March 2020, Ventec and GM established a new production facility in Kokomo, Indiana, and created the fastest, largest increase in production of critical care ventilators in history. Together, the Ventec and GM team completed a $489 million contract to supply 30,000 VOCSN V+Pro Emergency critical care ventilators to support healthcare professionals on the front lines in the fight against COVID-19. At its peak, the partnership produced 80x Ventec’s previous monthly production, producing one ventilator every seven minutes. The flexibility, capability, and supply of the VOCSN V+Pro makes it the primary critical care ventilator in the U.S. Strategic National Stockpile. The contract was completed on time and on budget.
New Leadership
New leadership will guide Ventec Life Systems through the next stage of its development to bring integrated respiratory care to patients and caregivers.
Chief Executive Officer Chris Kiple and Chief Financial Officer and acting Chief Operating Officer Mike Behlke concluded their employment in January. Dr. Suzanne Miller has transitioned from her role as the Chief Medical Officer to a member of the Ventec Clinical Board. Chief Strategy Officer Chris Brooks will serve in a transitional role through Q1 2021. Key leaders of all other company functions as well as the Board of Directors remain in place to help guide the transition. Announcement of a new CEO is expected soon.
“The past five years have seen incredible innovation and growth for Ventec Life Systems,” said outgoing CEO Chris Kiple. “I am incredibly proud to have seen VOCSN through FDA 510(k) clearance, the introduction of a new HCPCS code E0467, and the rapid completion of 30,000 VOCSN critical care ventilators to support frontline healthcare professionals in response to COVID-19.”
“Throughout 2020, we saw firsthand the power of partnerships and people working together as one team to respond to a global pandemic,” said Kiple. “I am tremendously proud of the amazing team at Ventec Life Systems who worked tirelessly around the clock to overcome every obstacle and truly make history. The collaboration with General Motors and Mary Barra set an example for how teams can come together to solve unprecedented problems in times of crisis with unique and outside-the-box solutions. Ventec plays an important role in supporting and improving the lives of thousands of healthcare professionals, caregivers, and ventilator users across the world. The patient-centric values and mission to improve the standard of care of ventilator users is as important as ever and I look forward to continued success for the Ventec Life Systems team.”
In 2020 Ventec was honored with several awards including GeekWire Hardware of the Year, the Not Impossible Awards Impact Award, a Fast Company World Changing Ideas finalist, Forbes Best Startup Employers, and the Project Management Institute Top 10 Most Influential Projects in Enterprise Transformation.
