Respiri - Objective measures for better outcomes

Respiri is an Australian medical device and software-as-a-service (SaaS) company, developing a novel remote patient monitoring approach to respiratory health management. Through its integrated wheezo platform (device, application and health portal) the company provides comprehensive (real-time) monitoring for irregular breathing patterns (wheeze), a key physiological variable in asthma and chronic obstructive pulmonary disease (COPD). Following its strategic pivot in 2021, Respiri has redirected its focus to the US market, which has a large inadequately treated patient population and a supportive environment for preventative RPM reimbursement. Employing a cost-effective partner-based strategy, management has recently onboarded its first two (US) hospital clients. We initiate coverage with a valuation of A$189.1m or A$0.24/share.