Tag: Fisher & Paykel

WATERLOO, Iowa – VGM Group has named Jeremy Stolz, a member of the company’s senior leadership team, as interim president of VGM & Associates.  Stolz, who joined VGM in 2003, has served as president of VGM Fulfillment since 2017.  “Jeremy is a recognized leader in the HME industry,” said VGM CEO Mike Mallaro. “Over his nearly 20-year tenure at VGM, he has been dedicated to developing solutions for our partners, customers, and the patients they serve....

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...

CINCINNATI – Quipt Home Medical has acquired Good Night Medical, a business with operations across seven states, for about $7 million in cash.  The acquisition provides Quipt Home Medical with expansion opportunities into Massachusetts, North Carolina and Texas, where it doesn’t have a presence.  “Good Night Medical strengthens our healthcare network across multiple states, enhancing our national coverage sphere over an area that includes about 5 million COPD sufferers...

AUCKLAND, New Zealand – Fisher & Paykel expects full year operating revenue of $1.675 billion to $1.70 billion for its 2022 financial year, which ends March 31.   “Our second half hospital consumables revenue is currently tracking to be similar to the hospital consumables revenue that we reported in the first half of the 2022 financial year,” said Lewis Gradon, managing director and CEO. “This is consistent with reports of the increasing prevalence of the Omicron variant...

WASHINGTON – Medicare’s bid surety bond requirement did not have a negative impact on small supplier participation in Round 2021 of the competitive bidding, says the Government Accountability Office in a new report.  For the report, “Effect of New Bid Surety Bond Requirement on Small Supplier Participation in the Competitive Bidding Program,” the GAO reviewed CMS’ data on supplier bids and contracts, and interviewed two DME trade organizations, including AAHomecare,...

AUCKLAND, New Zealand – Fisher & Paykel Healthcare reported revenue of $583 million for the first four months of its financial year 2022.   Seventy-four percent of that revenue came from F&P’s hospital group during the four-month time period, which ended July 31. Constant currency revenue was 3% below the prior comparable period. This consisted of a 13% decline in hardware sales, partially offset by 2% growth in consumables.   The company’s hospital consumables sales...

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...