F&P sees increase in home care

AUCKLAND, New Zealand – Fisher & Paykel reported total operating revenue of $1.68 billion for the 2022 financial year ended March 31, 2022, down 15% from the previous financial year or 14% in constant currency. 

Net profit after tax was $376.9 million, down 28% or 30% in constant currency. 

“Over the last two financial years we have supplied $880 million of hospital hardware, the equivalent of approximately 10 years’ hardware sales prior to COVID-19,” said Lewis Gradon, managing director and CEO. “The growing body of evidence supporting the use of nasal high flow and our other respiratory therapies shows that our products have a clear role to play in improving care and outcomes beyond COVID-19 patients. We have a proven 50-year track record of changing clinical practice and now we have the additional benefit of customers already having our hardware and clinical experience with its use.” 

In the Homecare product group, which includes products used in the treatment of obstructive sleep apnea and respiratory support in the home, revenue was $469.5 million, a 1% increase over the previous financial year or 2% in constant currency. OSA mask revenue grew 6% in the second half of FY22 in constant currency in an environment of suppressed new OSA patient diagnoses due to COVID-19 and the limited supply of treatment hardware. 

The Homecare product group saw the launch in May of the Evora Full mask in the United States. 

“The Evora Full has been one of the most positive new mask launches we have ever experienced, based on customer feedback and initial sales performance to date in the regions where it is available,” said Gradon. “New OSA patient diagnoses rates and the availability of treatment hardware are also likely to impact our Homecare product group results in the 2023 financial year.”