Tag: Tariff
Philips says ‘momentum’ continues for sleep business
February 28, 2025Liz Beaulieu, Editor
AMSTERDAM – With its recent clearance in France, the Sleep & Respiratory Care business at Philips can once again sell products in all countries except for the United States.
“If you talk about S&RC, indeed, the momentum is coming into that business again,” said Roy Jakobs, CEO, during a Feb. 19 conference call to discuss the company’s fourth quarter and full year financial results for 2024. “(It’s) driven by the return to the market outside of the U.S.,...
HME Home Health ‘buys Canadian’
February 6, 2025HME News Staff
RICHMOND, B.C. – In the face of possible American tariffs, HME Home Health says it supports the commitment of the British Columbia government to “buying Canadian.” “As a 100% Canadian – and B.C.-owned and operated company, HME has led the way over the past three years with moving our product sourcing to Canadian companies,” said Robert Boscacci, CEO and co-founder. “We’ve shifted our supply chain to support fellow Canadian companies, such as EMP, Evergreen,...
In brief: Owens & Minor seeks financing, F&P ‘works through’ tariffs, docs oppose cut
February 5, 2025HME News Staff
RICHMOND, Va. – Owens & Minor is raising additional debt “while capital markets are attractive” to finance its acquisition of Rotech Healthcare, the company announced Feb. 3.
The company still expects to close on the acquisition in the first half of 2025.
“Our healthy free cash flow provides the vehicle for this proposed financing, as well as helping us achieve our deleveraging goals over the next few years,” said Edward Pesicka, president and CEO of...
Trump pauses tariffs
February 5, 2025HME News Staff
WASHINGTON - President Donald Trump on Feb. 3 suspended his plans to implement 25% tariffs on products from Mexico and Canada, agreeing to a one-month pause in exchange for concessions on border security and crime enforcement.
The DME industry is closely monitoring the situation to see what, if any, exclusions might be included for medical equipment and products, according to a bulletin from VGM Government Relations.
An increase in tariffs, VGM says, could lead to several...
F&P ‘working through complexities’ of new tariffs
February 3, 2025HME News Staff
AUCKLAND, New Zealand – Fisher & Paykel Healthcare says it does not currently anticipate a material impact from the recently announced tariffs on its net profit after tax for the 2025 financial year, but it expects its costs will likely increase for the 2026 financial year.
The company says it expects to reach its gross margin target of 65% eventually, through its long-standing continuous improvement activities across the entire business, coupled with efficient growth into existing...
Trump’s tariffs: ‘The costs stack up’
January 24, 2025Liz Beaulieu, Editor
YARMOUTH, Maine – HME manufacturers in January were watching closely as the rhetoric around potential tariffs on imports from certain countries heated up and they were taking steps to mitigate any risks, including stocking up on inventory.
Following his win in the November election, President Donald Trump singled out countries like China, Mexico and Canada for double-digit tariffs in a move that he believes will protect companies in the U.S. and encourage more companies to make products...
AAH makes tariffs top priority in coming months
December 5, 2024HME News Staff
WASHINGTON – AAHomecare hosted a call recently with 40 manufacturing stakeholders to discuss the potential impacts of new tariffs under president-elect Donald Trump and the industry’s response. Trump has signaled that he will impose tariffs on products from Mexico, Canada and China in 2025. “The hour-long call included an overview of the situation, as well as potential avenues to prevent or minimize the effects on our industry, such as engaging with the Commerce Dept. and Capitol...
Invacare reports 'mixed' financial results
November 6, 2018HME News Staff
ELYRIA, Ohio - Invacare reported net sales decreased 2.5% to $244.6 million for the third quarter of 2018 compared to the same period last year.Net sales for North America HME decreased 7.3% to $73.7 million, driven by decreases in respiratory and lifestyle product sales. Net sales increased 8.9%, however, for mobility and seating products.“The third quarter performance was mixed,” said Matthew Monaghan, chairman, president and CEO.Invacare believes providers were cautious about investing...
In brief: MedPAC makes case for ramping up bid program, several DME product categories dropped from Trump tariffs
June 22, 2018HME News Staff
WASHINGTON - MedPAC's June 2018 report to Congress recommends that CMS include more DMEPOS products in the competitive bidding program as a way to improve Medicare's payment policies and reduce fraud and abuse.
“The CBP has successfully driven down the cost of DMEPOS products for the Medicare program and beneficiaries,” the report states. “Compared with payment rates in the year before the CBP, Medicare's payment rates for some of the highest expenditure products...
Trump tariffs: Several DME product categories dropped
June 21, 2018HME News Staff
WASHINGTON - Efforts by AAHomecare and its manufacturer members to exempt several product categories from a 25% tariff on imported materials and products from China have partially paid off.AAHomecare announced this week that 10 of the 48 product categories that they had targeted for exemption have been removed from an original list of 1,333.“I've never seen AAHomecare leadership act so quickly and effectively under such difficult circumstances and time constraints,” said Mitchell Yoel,...