Tag: Home Respiratory Equipment

YARMOUTH, Maine – COVID-19 cases are rising again and many HME providers are feeling the strain, according to a recent HME Newspoll.  Nearly 64% of poll respondents say the Delta variant and the subsequent uptick in COVID-19 cases have impacted their business, with 56% saying they have seen an increase in oxygen setups in the past month.  “Our oxygen setups have tripled our normal,” wrote David Snodgras, operations manager at Ozarks Healthcare Medical Equipment....

SAN DIEGO – ResMed expects to post $300 million to $350 million in additional revenue in its fiscal year 2022 as a result of a voluntary recall of certain Philips CPAP/BiLevel and ventilator devices, company officials said during an Aug. 5 conference call to discuss recent financial results.  In the fourth quarter of its fiscal year 2021, ResMed saw a 30% increase in device sales in the U.S., Canada and Latin America.  “We estimate that we generated an incremental device...

SAN DIEGO – ResMed reported revenue increased 14% to $876.1 million for the fourth quarter of 2021 compared to the same period last year. Net income was $195.1 million vs. $177.8 million.  The company reported revenue increased 8% to $3.2 billion for fiscal year 2021 compared to the previous year. Net income was $474.5 million vs. $621.7 million.  “Our fourth quarter and full-year fiscal year 2021 results continue to demonstrate the strength and resiliency of our business,”...

NORTHFIELD, Ill. – Medline’s acquisition of the Hudson RCI brand of respiratory products improves the company’s supply chain capabilities and grows its presence internationally, says Donna Mosakowski.  Here’s what Mosakowski, vice president of Medline’s Respiratory Division, had to say about how the company’s customers will benefit from the acquisition and what its other investment plans are.  HME News: Why grow the respiratory portfolio through...

CINCINNATI – With a toehold in Florida and $27 million in cash on hand, Quipt Home Medical is serious about growth, company execs said on a recent earnings call.  “We are looking for turnkey respiratory companies that can be seamlessly integrated,” said Hardik Mehta, CFO. “We have a number of targets in sight – 15-plus with a cumulative value in the broad range of $75 million to $150 million.”  A top priority: Leveraging the acquisition of Jacksonville,...

AUCKLAND, New Zealand – Now that COVID-19 hospitalizations are declining in many parts of the world, dampening the demand for certain respiratory products, the big question during Fisher & Paykel Healthcare’s recent earnings call was, what will the company’s fiscal year 2022 look like?   The company reported operating revenue of $1.97 billion for fiscal year 2021, which ended March 31, 2021, an increase of 56% over the previous year or 61% in constant currency, driven by...

DOWNEY, Calif. – SuperCare Health has renewed its contract with Optum to provide respiratory care services, equipment and supplies for its members in Southern California. “We are honored that Optum has extended our contract,” said John Cassar, CEO. “This continues to strengthen our long-term partnership with Optum, and it will bring even more innovative solutions like our COVID-19 Telemonitoring, iBreathe, and Home Sleep Testing Programs...

CLEVELAND, Ohio – Medical Service Company has acquired Wisconsin-based Metz Medical, a sleep and respiratory services provider with two locations in the Milwaukee area.  The deal gives MSC access to several new payer contracts.  “We are thrilled to welcome several new team members from Metz into the MSC family,” the company stated in a press release. “We look forward to offering our chronic care solutions across Wisconsin.”  The family owned...

WASHINGTON – As home respiratory providers look past the current public health emergency, they need to have the flexibility and stability to continue caring for patients, says Crispin Teufel, chairman of the Council for Quality Respiratory Care.  “We’ve started to have initial discussions on what happens when this is over,” said Teufel, who is also CEO of Lincare. “If you have set up a patient with COVID, do they need to get...

SAN DIEGO – The odds were against ResMed in a number of ways in the third quarter of fiscal year 2021, but the company expects a rebound in the next several quarters.  ResMed’s third quarter is typically slower due to insurance deductibles resetting in March, then the company faced a tough comparable – it generated $35 million in COVID-related revenues in the same quarter last year that haven’t been sustained.  “As we look further forward, we...