Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders Len Liptak, Co-Founder & CEO, ProSomnus Sleep Technologies – Silent Nights: Trailblazing with life-changing sleep tech
Sleep apnea affects a billion people worldwide and can cause serious medical problems, and yet its most widely prescribed therapy can be intolerable for many sufferers. My guest today has identified and jumped on a huge need for an alternative therapy.
We're sitting down with Len Liptak, founder and CEO of ProSomnus Sleep Technology, which trades under the symbol O S A. He's a board member and the co-inventor of the company's flagship product. Prior to starting ProSomnus, Len was President of MicroDental Laboratories, where he led the commercialization of multiple award-winning products and directed the expansion of the company's digital supply chain. During Len's tenure, the company grew three times faster than the industry average and set company records for profitability. At MicroDental, Len was named to Exec Rank's list of Top Executives for privately held companies in 2012 and 2013.
Len also spent 10 years at 3M and Stryker in strategic business development, business unit management and product development capacities. While at 3M, he was awarded the company's Golden Step Award, Circle of Technical Excellence Team Award and Global Sales and Marketing Leadership Award. Len has an MBA from University of Minnesota and a BA from Brown.
We had a great conversation about the important work ProSomnus is doing to solve a widespread medical problem.
Highlights:
- What ProSomnus does, and Len’s background that started him on this path (3:10)
- The problem of sleep apnea (5:05)
- The total addressable market for ProSomnus (7:18)
- ProSomnus’ flagship product and how it differs from traditional treatments (8:33)
- How it’s delivered to patients (10:45)
- The economics of expanding the sales force (12:47)
- Len shares some fascinating survey data about their market (13:51)
- ProSomnus’ manufacturing expansion (15:44)
- How ProSomnus manages quality assurance and their use of AI (18:28)
- ProSomnus’ partnerships for driving innovation forward (20:39)
- How they gather feedback from healthcare providers (23:10)
- Len discusses their growth rate and how that translates through their P & L (25:15)
- Len talks about the great team at ProSomnus (27:14)
Links:
Len Liptak on LinkedIn
ProSomnus Sleep Technologies on LinkedIn
ProSomnus Sleep Technologies Website
Feedback:
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.