U.S. markets closed
  • S&P 500

    4,232.60
    +30.98 (+0.74%)
     
  • Dow 30

    34,777.76
    +229.23 (+0.66%)
     
  • Nasdaq

    13,752.24
    +119.39 (+0.88%)
     
  • Russell 2000

    2,271.63
    +30.21 (+1.35%)
     
  • Crude Oil

    64.82
    +0.11 (+0.17%)
     
  • Gold

    1,832.00
    +16.30 (+0.90%)
     
  • Silver

    27.57
    +0.09 (+0.32%)
     
  • EUR/USD

    1.2167
    +0.0098 (+0.82%)
     
  • 10-Yr Bond

    1.5770
    +0.0160 (+1.02%)
     
  • GBP/USD

    1.3990
    +0.0098 (+0.70%)
     
  • USD/JPY

    108.5400
    -0.5450 (-0.50%)
     
  • BTC-USD

    58,011.27
    -549.22 (-0.94%)
     
  • CMC Crypto 200

    1,480.07
    +44.28 (+3.08%)
     
  • FTSE 100

    7,129.71
    +53.54 (+0.76%)
     
  • Nikkei 225

    29,357.82
    +26.45 (+0.09%)
     

This mattress company is helping a hospital network combat COVID-19

Leesa CEO John Replogle speaks with Yahoo Finance's Seana Smith about how his mattress company is pivoting its business to help make specialized hospital bed kits for medical facilities.

Video Transcript

SEANA SMITH: So right now, we have John Replogle, CEO of Leesa, joining us. And John, it's pretty amazing what your company has been able to do in just such a short amount of time. Bring us up to speed just in terms of what you were-- what you are doing now and how you were able to pivot your business so quickly.

JOHN REPLOGLE: Well, thank you for having us. And yeah, these are unprecedented times. And the demand for hospital equipment is going through the roof. And as a mattress company, we decided we can do something about this. We're a small team, an agile team. And we were born a benefit corporation, which means that we-- we want to care for the community around us.

And so this weekend we really got to work. And we said, what can we do? We want to provide solutions to hospitals. So we are now able to offer a bed frame, a mattress, a mattress protector, as well as a pillow. And we're now shipping these direct to hospitals.

SEANA SMITH: John, [INAUDIBLE] then, like, have you heard from government agencies? Have you heard from FEMA about this?

JOHN REPLOGLE: So we've done a lot of outreach. I think one of the reasons we're delighted to be on your show is the connection between supply and demand is broken right now. We've done outreach to governors, mayors, and hospitals across New York, California, North Carolina, really across the nation.

And it is really difficult to navigate, to put that supply and demand connection together. So we're hoping to get the word out and to make some of those stronger connections. But-- but we are seeing more-- more connections occurring every-- every minute right now.

SEANA SMITH: Yeah. From what I was reading, you were able to create 1,000 beds for one hospital network. So you have at least reached one deal here in order to use some of these hospital beds that you have been manufacturing.

JOHN REPLOGLE: That's correct. We've shipped over 1,000 mattresses. Again, we started this this weekend. And we've been able to secure a connection to provide 1,000 hospital beds. And we believe we are able to ship up to 1,000 different units per day, all turnkey. So we can ship the entire package directly to whatever is needed, be it a field hospital or a hospital that's already in place.

SEANA SMITH: John, how do [INAUDIBLE]-- so since production obviously has not slowed down at all for Leesa, there's been many companies that have decided to shut down production in the wake of the coronavirus outbreak. So how are you keeping your workers safe at this time?

JOHN REPLOGLE: Yeah. It's-- it's been a little tenuous, to be honest. We work with a network of different manufacturers. And different states have taken different regulations. But we still have a strong enough network up and running. And we believe that, because we've been deemed essential, that we'll be able to continue to furnish that supply pretty continuously throughout the crisis.

SEANA SMITH: And John, I have to ask you-- you're a direct competitor here to Casper. Casper went public last month. It struggled a bit since making its public debut. Do you have any plans to possibly go public here in the future? And how do you get an edge against a bigger competitor, like Casper?

JOHN REPLOGLE: Yeah. And thank you. It's a great question. We actually don't mind being a smaller, agile competitor. As I said, we are a benefit corporation, which part of our-- our reason for being is to donate one mattress for every 10 we sell to help others. And we like being the independent player. So we think we're in a perfect position right now, given the market dynamics.

SEANA SMITH: All right. John Replogle, the CEO of Leesa. Thanks so much for joining me today.

JOHN REPLOGLE: Thank you.