Somanetics
This article was originally published in The Gray Sheet
Executive Summary
Initial sales of the firm's first product, the INVOS 3100 cerebral oximeter with the SomaSensor disposable sensor, generated revenues of $570,781 in the second quarter ended May 31; shipments began in "mid-May." The system was cleared by FDA via 510(k) last year ("The Gray Sheet" July 13, 1992, p. 13). The Troy, Michigan firm recorded a loss for the period of $1.6 mil., but predicts that it "could achieve break-even on a monthly basis in our fourth quarter" given "current order backlog and customer demand." Based on a July 1 price hike for the Invos from $10,000 to $13,500 in the U.S. and $15,400 abroad, the company estimates that break-even is "achievable at approximately 80 oximeters per month." The price for the disposable sensors was also raised from approximately $30 to $35.