Tag: ResMed
In brief: Invacare layoffs, Philips recall, ResMed exec
May 6, 2022HME News Staff
ELYRIA, Ohio – Invacare is streamlining its operations in the United States, primarily related to headcount reductions, to improve its cost structure, according to a May 4 filing with the U.S. Securities and Exchange Commission.
As a result, the company anticipates annual pre-tax savings of about $2.8 million, with about $1.9 million to be realized in 2022. It will incur restructuring charges of $800,000 and expects to make cash payments in the same amount, primarily related to...
ResMed: ‘This is a humanitarian emergency’
April 29, 2022Liz Beaulieu, Editor
SAN DIEGO – ResMed has “five lines of work” to pump more of its CPAP devices into the market amid ongoing supply chain challenges, including a new AirSense 10 card-to-cloud device, says CEO Mick Farrell.
The company has launched the device – which is “basically an AirSense 10 without the cell chip in it,” says Jim Hollingshead, president, Sleep and Respiratory Care Business – only in select markets, but it’s in the process of adding markets.
“Look,...
ResMed: ‘Our third-quarter results reflect strong performance’
April 28, 2022HME News Staff
SAN DIEGO – ResMed reported revenue increased 12% to $864.5 million in its third quarter fiscal year 2022.
The company reported revenue, excluding software-as-a-service, increased 18% in the United States, Canada and Latin America, primarily due to a recall by one of its competitors and a recovery of core sleep patient flow that has been impacted by the COVID-19 pandemic.
“Our third-quarter results reflect strong performance across our business, resulting in double-digit top-line...
Report: Recall causes shifts in sleep therapy market
April 5, 2022HME News Staff
NEW YORK – HME providers expect to shift an average of 58.4% of their Philips Respironics flow generator purchases and an average of 30.2% of their mask purchases to other companies due to the recall, according to the first quarter HME Sleep and Oxygen Survey from Needham.
That’s up from the 56% and 23.1%, respectively, reported in the third quarter survey.
“ResMed should gain market share over the (next 12 months),” the survey states. “Respondents...
ResMed survey outlines what’s keeping Americans up at night
March 15, 2022HME News Staff
SAN DIEGO – About 52% of Americans reported snoring or being told they snore, but only 33% are concerned about the associated health implications, according to ResMed’s 2022 Global Sleep Surveys.
“Sleep quality can be impacted by lifestyle changes and poor habits, but many people are struggling with undiagnosed conditions that may be the root cause,” said Carlos M. Nunez, M.D., ResMed’s chief medical officer. “Sleep apnea is a serious health concern, but...
ResMed names new CTO
February 1, 2022HME News Staff
SAN DIEGO – ResMed has appointed Urvashi Tyagi as CTO to lead the company’s Digital Health Technology team.
She is charged with driving the innovation and adoption of ResMed’s cloud-based digital health platforms, as well as making investments in emerging technologies like artificial intelligence and machine learning.
“Urvashi brings world-class technology and engineering know-how, combined with senior leadership experience from other top fintech and consumer tech...
ResMed benefits from up to $55M in incremental revenue
January 28, 2022Liz Beaulieu, Editor
SAN DIEGO – Demand for CPAP devices is so high right now that, despite current supply chain constraints, ResMed was able to increase sales by double digits in the United States, Canada and Latin America for the second quarter in a row.
The company posted a 19% increase in sales for CPAP devices in the second quarter of its fiscal year 2022, on the back of a 40% increase in the first quarter, largely as a result of a competitor’s recall.
“In relation to the impact...
ResMed posts double-digit increases
January 28, 2022HME News Staff
SAN DIEGO – ResMed reported revenue of $894.9 million for the second quarter of fiscal year 2022, a 12% increase compared to the same period the prior year.
It reported net income of $201.8 million, also a 12% increase.
“Our second-quarter results reflect continued strong performance across our business resulting in double-digit top-line revenue growth, driven by ongoing high demand for our sleep and respiratory care products, and solid growth in our software-as-a-service...
ResMed invests in Scottish tech start-up
December 2, 2021HME News Staff
SAN DIEGO – ResMed has made a minority investment in Lenus Health, an Edinburgh, Scotland-based health-tech startup that specializes in improving outcomes and lowering costs for people with chronic obstructive pulmonary disease, according to the Scottish Business Times. “Lenus Health’s achievements underscore the power of digital health to improve people’s lives, delivering care closer to home while also significantly reducing health care costs for whole systems,” said...
In brief: Quipt acquisition, CVS’s new strategy, ResMed’s new board members
November 23, 2021HME News Staff
CINCINNATI – Quipt Home Medical has executed a non-binding letter of intent to acquire an “arm’s length” private respiratory care company servicing seven states throughout the U.S. reporting unaudited trailing 12-month annual revenues of about $14 million, $1 million in net income and positive adjusted EBITDA.
The acquisition adds a new vertical in long-term care settings, four new states and 165 remote respiratory therapists.
“We continue to strategically...