25 years ago today, Steve Jobs launched Apple’s first iPhone to much critical acclaim, and went on to revolutionise the mobile market, selling 2.4bn handsets on the back of unrivalled customer satisfaction, seamless technology and brand loyalty.

Similarly - albeit to a lesser degree - medical devices pioneer Belluscura (BELL) is on the verge of transforming the portable oxygen concentrator (POC) sector.

In a sign of the strong demand for its game changing products, the company said today that it had secured $15m worth of pre-orders  - more than 6,500 units at an average selling price of $2,300 - for its forthcoming DISCOV-R POC, which hasn't yet even been launched.

It’s not difficult to see why either. This best-in-class device weighs 50% less than comparable dual flow POCs, produces nearly 3x the oxygen by weight and won the prestigious Silver Award in the Best New Product category at the Medtrade conference earlier in 2023.

Moreover, once covered by healthcare insurance codes CMS E1390 (stationary) and E1392 (portable), the DISCOV-R should also be a better financial option for the thousands of American homecare oxygen providers, through which Belluscura has already received multiple additional requests to distribute the product.

Elsewhere, sales of the X-PLOR continue to grow too, with Chinese partner Innomax recently shipping 1,500 units to the US. With industry heavyweight McKesson coming on board as a new partner just last month, more commercial progress should follow soon. That will be helped by the fact that the product addresses significant unmet demand, with approximately 100m people in China suffering from COPD, on top of another 50m in India and 5m in Japan.

In order to further enhance its competitive moat, Belluscura’s telehealth and AI enabled biometric app, NOMAD, enables users to track performance data on their connected devices such as Apple/Samsung watches, FitBits or Nonin/Masimo pulse oximeters, in turn improving patient treatment regimes.

VP of global sales Bob Fary commented: “We are very excited about the overwhelming interest in the DISCOV-R. Initial feedback suggests we will receive the same or greater level of interest from leading HOPs once it is launched commercially.”

CEO Bob Rauker, added: “We believe the DISCOV-R, combined with our proprietary NOMAD app, will be transformational to the portable oxygen industry & patient outcomes. This is reflected by early demand for the product prior to its full commercial launch, which is expected to take place later this year.”

Lastly in terms of the numbers, the stock is attractively priced on a risk/reward basis - trading at 37p (representing a market cap of £46m) versus Dowgate Capital Limited’s 100p a share target. That target is based on unit sales of 6,250, ($7.5m revs), 20,000 ($28.8m), and 40,000 ($62.8m), respectively, from 2023-25, with Belluscura becoming cashflow positive in 2025, and closing December 2023 with net funds of +$2.3m, up from $1.8m last year.

Watch out for what should be more positive news at the interims in September.