- 01RPM revenue rose 12.5% to $539k, a fifth record.
- 021,033 devices shipped; 900 activated.
- 03Adherium targets value-based care contracts; Medicare changes loom.
Adherium (ASX: ADR) has lifted remote patient monitoring (RPM) recurring subscription revenue 12.5% to $539,000 in the September quarter, its fifth consecutive quarterly record.
The respiratory technology group recorded customer receipts of $544,000, up 33% from the preceding quarter, as device shipments and patient activations continued to grow.
Another 1,033 Hailie devices were shipped and 900 activated during the three months, lifting cumulative totals to 6,392 shipments and 4,732 activations.
The growth comes as Adherium prepares to extend its US operating model beyond subscription-funded monitoring into larger value-based care (VBC) contracts with insurers and health systems.
Subscription Revenue Surge
Subscription revenue was 381% higher than in the September 2025 quarter, with billable revenue recognised as patients activate devices rather than when equipment is shipped.
Adherium has concentrated on improving early patient engagement through dedicated clinical support during the first seven days, more targeted outreach and analysis of longer-term retention.
More than 90% of Allergy Partners clinic locations now participate in its program, providing access to a network with an estimated 90,000 eligible asthma patients.
Following quarter-end, a partnership with Florida Lung, Asthma & Sleep Specialists extended the Hailie platform into Central Florida, while the group broadened its focus towards patients with severe respiratory disease.
Broader Care Contracts
Adherium is using connected inhaler data, clinical support, and patient engagement records generated by RPM to build the operating evidence needed for outcomes-linked VBC arrangements.
The strategy aims to move beyond payments tied to monitoring activity towards contracts that reward measurable improvements in patient outcomes and overall care costs.
“We are building a strong foundation through our RPM platform, creating recurring revenue streams, proprietary patient data and a growing body of clinical evidence,” interim chief executive officer John Perry said.
“Together, these assets position Adherium to pursue larger-scale, higher-value VBC contracts and partner with health systems and payers in ways that were not possible a few years ago.”
Development of the next-generation Breathe SDK and partner integration tools is intended to improve data reliability and allow other healthcare platforms to use Hailie information, while clinical work includes a planned 20-person feasibility study with Lurie Children’s Hospital and continuing analysis of Intermountain Health’s iCARE dataset.
US Regulatory Changes
Adherium is also assessing proposed changes to US Medicare reimbursement for monitoring services, including patient eligibility, provider arrangements and payment rates.
A final rule was expected in November and could differ from the July proposal, leaving uncertainty around its existing RPM reimbursement model.
Mr Perry became interim chief executive officer in July, while Brad Wilson joined as chief financial officer in October as management sharpened its focus on payer contracting.
The immediate priorities are improving activation and retention, managing costs and converting clinical evidence and operational capacity into VBC partnerships without assuming those contracts have yet been won.
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The ASX small-cap stories that matter, filed before 9am AEST. Curated by the Small Caps desk.