Branden Rosenhan Presents Reddyport at LSI Europe '23

Reddyport is developing an innovative NIV elbow that features a self-sealing valve that provides access to the patient's mouth to facilitate cleaning and moisturizing the patient's mouth without disrupting therapy.
Branden Rosenhan
Branden Rosenhan
Co-Founder & Board of Directors, ReddyPort



Branden Rosenhan  0:03  
I'm Dr. Rosenhan, I'm a critical care physician turned entrepreneur, multi, two serial entrepreneur companies. And now I do venture. So it's been a really great conference super busy with a couple of great companies that we're looking at for seed fund and then showing Reddyport. I'm one of the co founders and we have an awesome CEO. I'll show you so we got a quick video here, and we'll go from there.

Video Playing  0:32  
I can't hear you. non invasive ventilation is the first line of therapy and respiratory insufficiency or failure, commonly seen with COPD, CHF, asthma, pneumonia, or ARDS. Yet many patients struggle because the mask causes dry mouth, phlegm buildup, and the inability to communicate. Patient discomfort can cause NIV failure, which leads to mechanical ventilation and the escalation of care, increasing risks and costs. Ready poured products promote NIV success by empowering clinicians and patients with simplified oral access while maintaining pressure. Featuring a patented self sealing bow. The ready port elbow fits under compatible masks providing easy access to the oral cavity without disrupting patient therapy. The ready for it maintenance kit includes everything needed for oral hygiene and keeping the patient's mouth clean and moisturized, without the risk and time required to remove the patient's mask. And they're ready for a microphone empowers patients to speak up and share their needs for clinicians and family members. It eliminates the frustration and fear that comes from not being able to hear the patient behind the mask, especially during a life threatening illness. Can you hear me now? I can Yes, I'm really really uncomfortable. I really need some tooling that I will get them something. Reddyport provides a simple way to not only increase patient satisfaction, but improve compliance among this high risk, high cost and fast growing patient population. I can't here's your dad. Hey, how's it going? How are you?

Branden Rosenhan  2:16  
Alright, I'll skip ahead. The audio is not great. But this is one of the best microphone devices available. There are there is a competitor, we actually beat them to market and we beat them to the patent office. So the big deal, laser not working. That's okay. So big deal here is oral care at reducing health, health acquired infections. We have FDA approved product, we have strong patents, I'll get to there. We have manufacturing, we have ISO validation, we this is a big market, I'm not gonna say it's a multibillion dollar market, nor a trillion that really upsets me when I'm a venture guy. Like it's a decent sized market where we can help patients and make success. We have the elbows, we have the oral care. And right now we have a microphone and we're going to build our portfolio of products. All right, so I'll skip to this through this a little bit as well. You get the elbow self sealed, we can put oral care products in, we have over 1000 10,000 patients who have used this now. We have oral care, which is a huge deal in the US if any of you know where the Jayco valid Jayco goals are now it's that you have to reduce healthcare infections, and particularly with ventilator with ventilator acquired pneumonia. So, what I love about this conference is that I see the venture side and the investor side. So I'd love to I spoke with someone yesterday during lunch and he said you're honest, you tell it how it is. I'm a critical care physician, I have challenging conversations with families, and I just cut to the chase. So we've raised over $5 million over the course of five years. And you can see now the red, I still don't have a laser pointer, but the red is how much we've spent. And then the bottom right charts are going up. So we don't have a ton of revenue. But we just know we know what we're doing. We've done this before and other companies and revenues growing in the great slide, we're gonna get cash flow. So very bottom right, q4 of next year, we'll get cashflow positive. And I'll reemphasize that and why that's so important. So this is very simple for dumb guys like me, which is red going down how much we've invested. It's been a great product, strong patents. Awesome team. And we're going to generate cash flow, which is a big deal. And if you can see on how I increase the the revenue generation for 2024 and 2025. I'm like bottom barrel realistic, right? I'm not going to give you a you know, crazy, crazy hockey stick. Because again, every venture every startup company gives that That to me when I'm a capital a venture capitalist. And again, we know how many with that happens. All right? So awesome team here. Tony, our CEO, started it NEOMED didn't raise $1 grew it from the ground up 10, over 10 years. And he sold it to Avernus. A couple of years ago, I had met Tony, at a conference with with my previous company, and we were lucky to bring him on. And we're at show investments, Tony has put in hundreds of 1000s of dollars of his own money because he loves this company. And he's the one if you go back here, he's the one that came in and said we're spending way too much money. So in 2022, he we had the patents, we had FDA, we started to generate revenue. And he said, Let's just make this thing lean. I understand markets, Brandon, you're helping me raise, let's get this done the right way, which is grow revenue and get to profitability. So Dr. Reddy, hence the name Dr. Reddy. Chuck is a long standing friend we've we practice together. And he's the expert of interventional pulmonology, at the Cancer Center in University of Utah. Pat just came out of retirement back to work with us at this company. He loves it. He's been with us for a couple of months, and he's generating a ton of new customers. So we have customers, we have revenue. Our board of directors is Dan Ryan, he on the board of directors. He's our also our largest investor. He's leading this round we're doing actually this round we just completed. And then Shawn Foredeck is my medical device mentor with our prior company. He'd like helped me learn this over 10 years. And he's independent, he has no shares doesn't invest so that he can really be an objective for Reddyport and help us understand to not drink our own Kool Aid, right. I'm a critical care physician, I co founded this company. I still work as a critical care managing physician, I don't practice anymore. But you know, I I work with HCA, HCA health care, 180 hospitals in the US. So I know the products, I know the hospitals, I know how to get through value analysis committees. And we've done that before with my company, Penn blade, and my co founder, Andrew Hanson. And then med mountain ventures on the bottom line is our seed venture fund. On our first little micro fund, we're investors. And in our second fund, we're actually reviewing this right now for with my sort of arm's length partner. Alright, so these are potential partners and acquisition partners. So particularly on the top left is triad and those that are in the US know that triad is a multi product, respiratory driven platform, we've worked with them for three years, we're going to renegotiate our contract now because we can, we can increase our margins here, going from the orange to the white. So when we renegotiate with Tran and because we've done it with them for two years, they've we've excited that we've got them excited about the product and how we can improve the distribution and more importantly, the sales. Those are distribution partners. So the one thing I last cover because it's important, I've done this before we have medical device companies that we invest in, you have to have the right people, you have to have the right products. And you have well product first people and then patents. So I will show you the denim slide. That's our patents. When we did this with ready port, it was acquired in 2000. Sorry, when we did this with pen blade, and it was acquired in 2019. We had seven issued patents on a very simple safety scalpel. And we know how to do this as well. This is what's going to lead to acquisitions in these smaller to smaller companies in the US where we'll get acquired our anticipation is in 25 because we already have had the relationships with the star strategics and that's it.

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