SomnoMed CEO transfers to the US

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SomnoMed Limited (ASX:SOM) Announcement to the Australian Stock Exchange on 7th February 2011

SomnoMed Limited announced today that its CEO Ralf Barschow would transfer to the US in March 2011 and be based at the company’s North American head office in Dallas, Texas.

“In addition to his current role as global CEO of SomnoMed Limited, Mr. Barschow has been appointed President of SomnoMed North America,” said SomnoMed Chairman Dr. Peter Neustadt.

“The US is SomnoMed’s most important market, generating almost two thirds of the company’s global unit sales. Given the importance of the US market for the future growth of SomnoMed and the size of our company it made perfect sense to allow the company‘s CEO to take direct control of the US operation. Mr. Barschow will manage our global business as President and CEO based in Dallas, Texas from 21st March 2011. The head office of SomnoMed Limited – Group Finance, Global Production and R&D - will remain in Sydney,” said Dr. Neustadt.

Mr. Barschow’s move to the US comes after recent appointments of new VP Sales Jack Guthrie and VP Marketing & SomnoMed Academy Anthony White, both highly regarded and experienced in the dental and medical field in the US.

“I am very much looking forward to take direct responsibility for our North American organisation and to work closely with our US team,” said Mr. Barschow. “Despite excellent growth in Europe we believe the US is likely to remain, for years to come, the biggest market for the treatment of sleep disordered breathing in the world.”
US Medicare announced in January this year that sleep apnea patients with up to 30 sleep interruptions per hour could be treated with custom made oral appliances and that this treatment will be reimbursed to Medicare patients. It is expected this will have a significant impact on the future demand for oral appliances in the US.

“The new regulation also allows reimbursement for oral appliance treatment of patients, if the patient is non compliant or rejecting treatment with CPAP. We know that the number of patients for whom oral appliance therapy will become the only real treatment alternative over the next few years is quite significant,” said Mr. Barschow.

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Anthony White
SomnoMed
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