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Tag: Mick Farrell


ResMed: ‘We have clear path to double-digit growth’ 

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ResMed: ‘We have clear path to double-digit growth’ 

April 30, 2021Liz Beaulieu, Editor

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...

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ResMed believes it has passed nadir in new patient flow

August 7, 2020Liz Beaulieu, Editor

SAN DIEGO - ResMed has seen double-digit declines in new sleep apnea patient flow across all markets that have experienced lockdowns due to the COVID-19 pandemic, but the company expects a U-shaped recovery in its fiscal year 2021, says CEO Mick Farrell. While Germany is back up to 85% of its pre-COVID-19 sleep lab capacity and China is at 50%, the United States is likely somewhere in between, at an average of about 70%, Farrell told investors during a conference call to discuss its fourth quarter...

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ResMed 'resilient' with double-digit growth

August 6, 2020HME News Staff

SAN DIEGO - ResMed reported revenues of $770.3 million for its fourth quarter 2020 ended June 30, an increase of 9% compared to the same quarter one year ago. Revenue for the full year was $3 billion, an increase of 13%. “Our fourth quarter results reflect the strength and resiliency of our business in today's uncertain environment,” said Mick Farrell, CEO. “We finished fiscal year 2020 with double-digit revenue growth to $3.0 billion and operating profit up 24% on a non-GAAP basis....

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ResMed says 'innovation' in masks pays off

January 31, 2020Liz Beaulieu, Editor

SAN DIEGO - ResMed's masks and accessories hit constant currency growth of 19% in the U.S., Canada and Latin America for the second quarter of fiscal year 2020. They hit growth of 16% globally. “(That's) well ahead of market growth rates, indicating that we gained significant market share,” said CEO Mick Farrell during a conference call Jan. 30 to discuss the company's latest financial results. ResMed's CPAP devices grew 9% in the U.S., Canada and Latin America,...

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ResMed reports double-digit growth, announces software acquisition

January 31, 2020HME News Staff

SAN DIEGO - ResMed reported net revenues of $736.2 million for the second quarter ended Dec. 31, 2019, compared to $651.1 million for the same period in 2018, a 13% increase. Net income was $160.6 million compared to $124.6 million, a 29% increase. “We had a strong December quarter with double-digit top-line growth and further gross margin expansion, as well as continued fiscal discipline that resulted in improvements in operating leverage and double-digit growth at the bottom line,”...

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ResMed CEO to ring Opening Bell

September 27, 2019HME News Staff

SAN DIEGO - ResMed CEO Mick Farrell will ring the Opening Bell at the New York Stock Exchange on Sept. 30 to celebrate 20 years of being listed on the NYSE and to commemorate ResMed's 30th anniversary. Founded in 1989 as ResCare, ResMed today has more than 4.5 billion nights of medical sleep and respiratory care data and more than 10 million 100% cloud connectible devices. “From a single A$1.25 million investment, ResMed has transformed into a A$28 billion (US$19 billion) connected health leader,...

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ResMed rides connected health wave overseas

April 27, 2018Liz Beaulieu, Editor

SAN DIEGO - ResMed got a nice boost from Europe and Asia in the third quarter of fiscal year 2018, as growth in the U.S. slowed slightly.In Japan, a revised reimbursement system went into effect on April 1 that allows physicians to be paid for remote telemonitoring of CPAP patients.“In anticipation of increasing demand for telemonitoring capability, our Japanese customers have stepped up their adoption of the AirView platform and AirSense 10 devices, our 100% cloud-connected sleep apnea therapeutic...

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ResMed highlights 'positive' tax changes

February 27, 2018Liz Beaulieu, Editor

SAN DIEGO - Tax reform recently passed by Congress has “liberated our global cash assets to be able to be invested without artificial constraints,” ResMed CEO Mick Farrell said during a Jan. 22 conference call.Farrell said the company will now be free to invest in three new ways in the United States: 1.) grow its manufacturing footprint; 2.) grow its research and development capabilities; and 3.) build its intellectual property assets.“The changes will be positive for ResMed from...

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ResMed sets high expectations for mask sales

August 4, 2017Liz Beaulieu, Editor

SAN DIEGO - ResMed expects to see a nice bump in mask sales in the first quarter of its fiscal year 2018, now that it has manufacturing “sufficiently ramped up” for two new masks, the N20 and F20, says CEO Mick Farrell.The masks and accessories category in the Americas grew only 4% in the fourth quarter of fiscal year 2017, compared to 8% for devices.“As we noted in our call 90 days ago, we expected to have mask supply constraints throughout the first half of the (fourth) quarter...

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ResMed highlights Brightree's contribution, mask growth in Q3

April 28, 2017Liz Beaulieu, Editor

SAN DIEGO - It was Brightree that pushed ResMed into double-digit increases for revenues in the third quarter of fiscal year 2017.ResMed reported revenues of $514.2 million for the third quarter, a 13% increase compared to the same period last year. But excluding contributions from Brightree, which ResMed acquired in April 2016, it reported revenues of $479.2 million, a 6% increase.“We have full separation of the commercial teams (between ResMed and Brightree), but as we look at the broader...

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