Vendors

SARASOTA, Fla. - React Health subsidiary Ventec Systems has acquired Invacare’s respiratory assets.  Invacare announced late last year that it would be exiting the respiratory market.  “With this acquisition, React Health is well positioned to continue to support the end-to-end care of patients with cardiology, sleep and respiratory illnesses, in partnership with physicians and providers of diagnostic and needed therapies,” said Tom Pontzius, president of operations...

AMSTERDAM – Philips remains committed to its Sleep & Respiratory Care business, despite a tough year and a half, says CEO Roy Jakobs.  An analyst asked Jakobs whether Philips will retain the business as part of a new plan to restructure the company to create value, during a conference call to discuss fourth quarter and full year financial results on Jan. 30.  “We have refocused the portfolio and the portfolio we have, I think, is a very strong and compelling portfolio...

AMSTERDAM – Philips has announced it will reduce its workforce by another 6,000 roles globally by 2025 in a bid to simplify its operating model.  The company plans to eliminate 3,000 roles in 2023 and the other 3,000 in 2024-25.  “This change and these reductions will help make Philips more agile, more competitive and, ultimately, result in supporting better outcomes for our customers and a simpler, more productive and more engaged workplace for employees, motivated and...

ELYRIA, Ohio – Invacare and two of its U.S. based subsidiaries have filed Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas, the company announced today.  The company does not anticipate the filings will impact its ability to manufacture and deliver products to its customers globally, and says its other businesses throughout the world remain strong and are not included in the filings.  The filings are part of a restructuring support agreement (RSA)...

AMSTERDAM – Philips has reported an 11% comparable sales decline for its Connected Care businesses for 2022, mainly due to a double-digit decline in Sleep & Respiratory Care.  The company has also reported an increased field action provision of EUR  85 million to expedite the completion of its recall of certain sleep therapy and ventilator devices. It has not, however, made any provisions to account for an investigation by the Department of Justice, several class-action lawsuits...

SAN DIEGO – ResMed was able to take its AirSense 10 fully connected CPAP device off allocation in the U.S. market in January, CEO Mick Farrell said during a conference call to discuss its financial results for the second quarter fiscal year 2023.  Furthermore, the company expects to be able to meet all demand before the end of this calendar year, he said, paving the way for providers to get patients on therapy in days or weeks vs. months at the height of a supply crisis created by a...

SAN DIEGO – ResMed reported revenue increased by 16% to $1.03 billion in the second quarter of fiscal year 2023 compared to the same period the previous year.  Net income was $224.9 million vs. $216.2 million.  “During the second quarter, we significantly increased production and delivery of flow generator devices to meet the incredible demand from customers, resulting in strong sales growth in the Americas, and solid overall performance for our business across 140 countries,”...

BOULDER, Colo. – As the demand for electric vehicles has grown, the price of lithium, which, when combined with zeolite, allows oxygen concentrators to generate oxygen at purity levels of 90% or higher, is experiencing significant increases, according to a bulletin from Quality Biomedical.  Lithium is a key component of the batteries used in EVs and certain sieve beds of oxygen concentrators.  “As the demand for EVs has increased, the price of lithium is experiencing significant...

AUCKLAND, New Zealand – Fisher & Paykel Healthcare expects full year operating revenue for the 2023 financial year to be within the range of about $1.55 billion to $1.6 billion, the company announced on Jan. 19.  In F&P’s Homecare Product Group, sales of obstructive sleep apnea masks have remained strong, said Lewis Gradon, managing director and CEO.  “Our mask sales growth rate is currently tracking above that of our first half as global supply of CPAP hardware...

RIVERSIDE, Calif. – New Solutions, a wheelchair and scooter parts supplier, has a new owner and a new home.  Co-owners Leonard Graves and Nick Hambrick, both quadriplegics, started the company out of a garage in California in 1992 when, frustrated with too many flat tires, they figured out a way to build flat-free inserts (See related story below). Now looking to retire, they’ve sold the company to Phil Cunningham, formerly of Invacare.  “They’re neat guys...