Tag: CPAP recall

AMSTERDAM – Roy Jakobs is expected to take the helm at Philips, succeeding Frans van Houten as CEO.  Van Houten is nearing the end of his third term as CEO.  "It has been both a privilege and a pleasure to lead the transformation of Philips, over the past 12 years, into one of the largest health technology companies in the world, bringing innovative solutions to help our customers deliver on the Quadruple Aim of better health outcomes, higher healthcare productivity and much...

SAN DIEGO – Mick Farrell’s tone has shifted slightly when it comes to ResMed increasing its market share amid a major competitor’s recall.  During a conference call to discuss the company’s fourth quarter and fiscal year 2022 financial results, the CEO said he no longer looks at it as “incremental or temporal.”  “This is permanent share taking,” he said. “We’re going to go in, we’re going to get share and we’re...

AMSTERDAM – Comparable sales for the Connected Care business at Philips decreased 13% in the second quarter of 2022, mainly due to the consequences of a major recall and supply chain headwinds.  The company says it is making progress on the recall, producing more than 3 million replacement devices and repair kits to date.  “Philips Respironics aims to further increase capacity and complete around 90% of the production and shipments to customers in 2022,” the company...

While supply chain delays have been a major choke point for the U.S. economy over the past year, the recall of Philips Respironics’ flow generators and masks has compounded the obstruction in the sleep therapy market. The ensuing vacuum created by the recall caused a ripple effect throughout the marketplace, causing various suppliers to scramble for ways to cover the shortage.  At this point, suppliers are still frustrated by a hardscrabble supply line, but remain hopeful that product...

Am I the only one getting CPAP shortage vibes from the baby formula shortage?  I’m not going to lie. The formula shortage wasn’t fully on my radar until recently. With a seven-year-old, my days of buying formula are long over. But seven years ago, it would have been a different story, as my daughter was 100% formula fed. (My breastfeeding story, by the way, is not uncommon. Difficulty with latching. Supply issues with pumping. There is no shame here.)  I can’t imagine...

SAN DIEGO – ResMed has “five lines of work” to pump more of its CPAP devices into the market amid ongoing supply chain challenges, including a new AirSense 10 card-to-cloud device, says CEO Mick Farrell.  The company has launched the device – which is “basically an AirSense 10 without the cell chip in it,” says Jim Hollingshead, president, Sleep and Respiratory Care Business – only in select markets, but it’s in the process of adding markets.  “Look,...

SAN DIEGO – ResMed reported revenue increased 12% to $864.5 million in its third quarter fiscal year 2022. The company reported revenue, excluding software-as-a-service, increased 18% in the United States, Canada and Latin America, primarily due to a recall by one of its competitors and a recovery of core sleep patient flow that has been impacted by the COVID-19 pandemic. “Our third-quarter results reflect strong performance across our business, resulting in double-digit top-line...

AMSTERDAM, the Netherlands – Philips Respironics recorded EUR 165 million in additional provisions related to its recall of certain CPAP devices in the first quarter of 2022, according to the company’s financial results.  The company recorded a EUR 65 million increase in the field action provision in the quarter to account for the higher expected volume of devices eligible for remediation and the higher communication costs. It recorded a further EUR 100 million provision...

The most read stories of the first quarter of 2022 point to a lot of changes in the HME industry right now.  Our No. 1 most read story, “Owens & Minor buys Apria, reaches deeper into home care,” points to an accelerating trend in the larger health care industry where vertical silos are disintegrating. Here, we see a global distributor and logistics company buy an HME provider (this follows its previous acquisition of Byram Healthcare). These kinds of deals have happened before,...

NEW YORK – HME providers expect to shift an average of 58.4% of their Philips Respironics flow generator purchases and an average of 30.2% of their mask purchases to other companies due to the recall, according to the first quarter HME Sleep and Oxygen Survey from Needham.  That’s up from the 56% and 23.1%, respectively, reported in the third quarter survey.  “ResMed should gain market share over the (next 12 months),” the survey states. “Respondents...