Tag: Mick Farrell
Trump’s tariffs: Resmed ‘well-positioned’ with exemptions, CEO says
April 25, 2025Liz Beaulieu, Editor
SAN DIEGO – Resmed says that U.S. Customs and Border Protection has confirmed that its devices will continue to be exempt from tariffs and, therefore, the company does not expect a material impact on its financial results from any new tariffs.
As of April, the ever-changing tariff landscape included a 10% general tariff on imported products and a 145% tariff on imported products from China.
“I can report that because of the fact that our products are used to treat patients...
Resmed delivers growth
April 24, 2025HME News Staff
SAN DIEGO – Resmed reported third quarter 2025 revenues of $1.3 billion, an increase of 8% over the same quarter the prior year.
Revenue in the U.S., Canada, and Latin America, excluding Residential Care Software, grew by 9%.
Other results for the quarter:
Gross margin improved 140 bps to 59.3%; non-GAAP gross margin improved 140 bps to 59.9%
Income from operations increased 14%; non-GAAP income from operations up 13%
Operating...
ResMed moves to address ‘educational gap’ on PAP devices, GLP-1s
January 31, 2025Liz Beaulieu, Editor
SAN DIEGO – In the wake of the U.S. Food and Drug Administration’s approval of Zepbound to treat moderate to severe obstructive sleep apnea, ResMed is ramping up its education to high-volume prescribers of GLP-1 drugs to reiterate that PAP therapy remains the gold standard.
The FDA announced in late December that it had approved Eli Lilly's Zepbound (tirzepatide) for the treatment of moderate to severe OSA in adults with obesity. It’s approved for use in combination...
ResMed targets resupply, rePAP for growth
October 25, 2024Liz Beaulieu, Editor
SAN DIEGO – ResMed is redoubling efforts to increase resupply with plans to make Snap, a software platform that monitors orders, performance and patient eligibility in real-time, available to all HME providers, not just those using Brightree.
The company reported a “really solid” 10% increase in sales for mask and accessories in the United States, Canada and Latin America for the first quarter of fiscal year 2025, on an “extraordinary comp” of 23% for...
ResMed sees nothing but ‘tailwind’
April 26, 2024Liz Beaulieu, Editor
SAN DIEGO – The impact of GLP-1 drugs on the CPAP therapy market has stolen the headlines recently, but ResMed Chairman and CEO Mick Farrell says the impact of wearables might be “a higher tidal wave.”
Farrell, on a recent conference call to discuss the company’s financial results for the third quarter of its fiscal year 2024, noted the Samsung Galaxy Watch’s recent de novo authorization from the U.S. Food and Drug Administration to detect signs of sleep apnea...
ResMed on mask recall, big tech and demand-gen
January 26, 2024Liz Beaulieu, Editor
SAN DIEGO – ResMed CEO Mick Farrell said a recall of its CPAP masks with magnets did not impact the company’s sales for the second quarter ended Dec. 31, 2023.
ResMed in November issued an urgent field safety notice to patients detailing possible interference with its AirFit and AirTouch masks and certain medical devices; the company in December then announced a voluntary global field action to update its guides. The U.S. Food and Drug Administration in January classified...
ResMed starts tracking patients on both weight loss drugs, CPAP therapy
January 5, 2024Liz Beaulieu, Editor
YARMOUTH, Maine – ResMed CEO Mick Farrell believes that, based on the company’s early research, weight loss drugs will be a “net positive” for patient flow for sleep apnea.
“I mean, I think there's $1 trillion worth of market cap now from these (pharmaceutical) companies and they will turn that into marketing to bring people in for the miracle drug,” he said during a recent conference call to discuss ResMed’s latest financial results. “And...
ResMed restructures workforce
October 27, 2023Liz Beaulieu, Editor
SAN DIEGO – ResMed has reduced its global workforce by 5%, or about 500 people, to “accelerate profitable growth and power long-term success,” says CEO Mick Farrell.
Reductions are never easy, but “we know we are doing the right thing,” he said during a conference call to discuss the company’s financial results for the first quarter of its fiscal year 2024.
“We have stopped some projects that were not working out as well as we thought,”...
ResMed firing on all cylinders
April 28, 2023Liz Beaulieu, Editor
SAN DIEGO – ResMed posted a 48% increase in device sales in the U.S., Canada and Latin America for the third quarter of FY2023 compared to the same period in 2022, on the backs of “unconstrained access” to its AirSense 10 cloud-connected CPAP machine.
“Incredible growth – an all-time high,” said Mick Farrell, CEO, during a conference call to discuss the company’s financial results on April 27. “Many factors have gone into that, but primarily,...
ResMed signals possible end to CPAP crunch
January 27, 2023Liz Beaulieu, Editor
SAN DIEGO – ResMed was able to take its AirSense 10 fully connected CPAP device off allocation in the U.S. market in January, CEO Mick Farrell said during a conference call to discuss its financial results for the second quarter fiscal year 2023.
Furthermore, the company expects to be able to meet all demand before the end of this calendar year, he said, paving the way for providers to get patients on therapy in days or weeks vs. months at the height of a supply crisis created by a...