Tag: Fisher & Paykel

YARMOUTH, Maine – Manufacturers like ResMed and 3B Medical are ramping up production to meet increased demand due to a voluntary recall of millions of Philips CPAP devices, but their efforts are complicated by supply chain and other challenges.  “Yes, we’re ramping up production as quickly as possible, while working closely with our global supplier network to navigate the well-known global supply chain challenges impacting this and other industries,” said Jayme...

AUCKLAND, New Zealand – Fisher & Paykel Healthcare reported operating revenue of $1.97 billion for the full year ended March 31, 2021, an increase of 56% over the previous year or 61% in constant currency.  The company reported net profit after tax was $524 million, an increase of 82% or 94% in constant currency.  “The unprecedented result was driven by our Hospital product group, which includes Optiflow and Airvo systems used to deliver nasal...

IRVINE, Calif. - Fisher & Paykel Healthcare saw lower diagnosis rates of obstructive sleep apnea globally for the first four months of its fiscal year 2021 but mildly elevated rates of mask resupply, the company stated in a recent update.The company saw 4% revenue growth for masks for the first four months of FY21 compared to the prior comparable period.Still, “we have maintained our assumption that OSA diagnosis rates are reduced for the year,” F&P stated in the update.Overall, thanks...

IRVINE, Calif. - Fisher & Paykel Healthcare saw lower diagnosis rates of obstructive sleep apnea globally for the first four months of its fiscal year 2021 but mildly elevated rates of mask resupply, the company stated in a recent update.The company saw 4% revenue growth for masks for the first four months of FY21 compared to the prior comparable period.Still, “we have maintained our assumption that OSA diagnosis rates are reduced for the year,” F&P stated in the update.Overall, thanks...

IRVINE, Calif. - Fisher & Paykel Healthcare has hired about 600 additional manufacturing staff in New Zealand and more than 500 in Mexico, according to the New Zealand Herald. Lewis Gradon, managing director and CEO, told the newspaper the company first started ramping up hiring in February and plans to continue to add staff through the end of the year in both New Zealand and Mexico. “We do constantly grow, just not at that kind of rate in manufacturing,” he told the newspaper. “(Without...

AUCKLAND, New Zealand - Fisher & Paykel has received regulatory clearance for its F&P Evora nasal mask in the United States. The mask features CapFit headgear, which is designed for patients to put on like a baseball cap. In a clinical trial, 98% of patients said it was simple to put on and take off in the dark. The Evora also features a “floating” seal, which sits inside stability wings, allowing for freedom of movement during sleep while keeping the mask comfortably in place.

IRVINE, Calif. - Fisher & Paykel Healthcare has updated its revenue and earnings guidance for the financial year ended March 31, 2020, due to better-than-expected sales in its home care product group.“We've seen better-than-expected sales in our home care product group combined with continued strong growth in our hospital product group,” said Lewis Gradon, managing director and CEO. “This includes an increase in demand from China related to the COVID-19 coronavirus outbreak.”F&P...

WASHINGTON - Taxpayers could see nearly $5.9 billion that has been misspent on healthcare services returned to the government, according to The Office of Inspector General in its Semiannual Report to Congress published last week.Of the savings and recoveries in FY 2019, more than $819 million is expected to be recovered from audits and approximately $5.04 billion from investigative recoveries, according to the OIG.For the reporting period, April 1- Sept. 30, 2019, the OIG reported 353 criminal and...

AUCKLAND, New Zealand - Fisher & Paykel Healthcare reported net profit after tax of $121.2 million for the six months ended Sept. 30, representing 24% growth.The company reported operating revenue of $570.9 million, representing 12% growth.F&P reported operating revenue of NZ$214.7 million for its homecare product group, representing 2% growth.“Revenue from our new F&P Vitera full face mask in Australasia, Canada and Europe has partially offset declines in sales of some of our legacy OSA masks,...

IRVINE, Calif. - Fisher & Paykel Healthcare has upgraded its guidance for the financial year ending March 31, 2020, to full operating revenue of about $1.17 billion and net profit after tax of about $245 million to $255 million.The company expects operating revenue for the first half of the 2020 financial year ending Sept. 30, 2019, to be about NZ$560 million and net profit after tax to be about NZ$120 million.“We've had a good start to the year and are on track to deliver strong revenue and...