BWA | JUL 2026 101 SomnoMed occupies a distinctive place in healthcare because it sits at the intersection of medical treatment, dental workflow and patient adherence. The company says it is the world’s largest supplier of oral sleep-apnea devices, operates in 28 countries and has now delivered more than one million oral appliances for obstructive sleep apnea. That scale gives it a very different profile from a small niche medtech supplier: it is already a global operating platform in a therapy category that continues to gain wider clinical acceptance. FY25 was a major year for the company financially. In its annual report, SomnoMed said it generated revenue of $111.5 million, up 21.6% on FY24, returned to positive EBITDA of $9.2 million, and delivered positive free cash flow of $0.8 million. The same report described FY25 as exceptional and noted that SomnoMed became the first oral-appliance company in the world to have treated more than one million patients to date. Those numbers matter because they suggest the business is moving beyond recovery and into a more scalable operating phase. SomnoMed’s FY25 materials also said the operational improvement program launched in FY24 continued to deliver strong results in FY25, with increased production capacity, process optimisation,
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