Skip to Content

ResMed sees steady growth for mask sales going forward

ResMed sees steady growth for mask sales going forward

SAN DIEGO - ResMed officials made good on their word: Mask and accessories sales rebounded nicely in the first quarter of fiscal year 2018.

The company on Oct. 26 reported that mask sales grew 13% for the quarter in the Americas, compared to only 4% for the fourth quarter of fiscal year 2017.

“I think we've got a really good runway ahead for growth,” said Mick Farrell, CEO, during a conference call to discuss earnings. “I don't think it's a catch-up. I think it's the start of a steady growth pattern for 2018, 2019 and beyond.”

Flow generator device sales grew 8% in the first quarter, the same as in the fourth quarter.

Overall, ResMed reported revenues of $523.7 million for the first quarter, a 13% increase compared to the same period of the prior year. It reported a net income of $86.1 million, a 13% increase. For the Americas, specifically, ResMed reported revenues of $296.6 million, an 11% increase.

Helping to drive masks sales are the launch of several new products—not only the AirFit N20 nasal mask and F20 full-face mask, but also more recently, the AirTouch F20 full-face mask—and an increase in resupplies.

“Our HME customers are realizing how important it is to resupply their patients,” said Jim Hollingshead, president, Americas. “We have seen an ongoing increase in adoption of our resupply platforms. Our offerings, especially through Brightree, make it easier, and as they adopt them, they're able to grow that side of their business.”

Other highlights from the call included:

On connected care: Farrell said more than 6 million patients are monitored with ResMed's AirView software and more than 4 million patients are monitored with 100% cloud connected medical devices. What's more: More than 1,300 patients per day are signing up for MyAir, an app that allows them to track their sleep therapy. “It turns out consumers love seeing their own data,” he said.

On portable oxygen concentrators: ResMed in the first quarter officially re-launched the LifeChoice Activox, a POC it inherited when it acquired Inova Technologies in 2016. The product, says Robert Douglas, president and COO, now has a number of “under-the-hood quality improvements.”

On consolidation in the HME market: Farrell estimates the market still boasts more than 5,000 providers. “And it's quite a large and diverse group made up of local mom-and-pop, regional and national players, and we partner with people across that spectrum,” he said. “As I look at the market, I think we see a relative settling of the changes in reimbursement, and now we have a sort of steady program going forward.”


To comment on this post, please log in to your account or set up an account now.