OM is an up and coming player in the hemodialysis market. The company manufactures and markets the Tablo hemodiaysis machine for home and acute care settings, as well as component parts such as the Tablo cartridge disposable that is used as part of the dialysis treatment. I am far from an expert in this field, but this is an interesting company. Reading through some of the financial filings, earnings reports, news, and earnings calls, a couple of things stood out:
OM has about a $500 million EV and will do a little over a $100 million in sales. The company is not close to being profitable from a look at their financials. OM seems to be in the build out stage, growing sales staff and trying to sign deals.
In the recent earnings call, OM management noted two headwinds: nursing shortages and a recent (temporary) hold of shipping units to home users due to regulatory issues.
OM does manufacture the Tablo machine, but the Tablo console requires parts from 250 different suppliers (of which 9% are of critical components). The cartridge requires parts from 50 different suppliers. That is a pretty complex process to say the least.
It seems like OM faces a bit of competition and they are selling into a pretty fragmented market.
Their competitive position seems to rely on: ease of use, cost savings to hospitals that won’t need to outsource dialysis to clinics, and ability to use the same machine across different settings.
No position.