Vendors

AUCKLAND, New Zealand – Fisher & Paykel reported total operating revenue of $1.68 billion for the 2022 financial year ended March 31, 2022, down 15% from the previous financial year or 14% in constant currency.  Net profit after tax was $376.9 million, down 28% or 30% in constant currency.  “Over the last two financial years we have supplied $880 million of hospital hardware, the equivalent of approximately 10 years’ hardware sales prior to COVID-19,” said...

MIAMI – VirtuOx has agreed to pay $3.15 million to resolve allegations that it submitted or caused to be submitted false claims to Medicare for reimbursement, according to an announcement from the Department of Justice, U.S. Attorney’s Office, Southern District of Florida.  The Coral Springs, Fla.-based company, which operates Medicare-approved Independent Diagnostic Testing Facilities (IDTFs), allegedly violated the False Claims Act by falsely identifying the place of service...

SAN DIEGO – Sleep apnea sufferers can gain health benefits from PAP treatment in as little as two hours per night, according to a study led by ResMed and presented at the American Thoracic Society’s annual international conference.  Researchers found:  The minimum PAP usage threshold for benefit was two to three hours per night (up to 50% lower than the four hours required by CMS and many private insurers to prove adherence);  Benefits begin at two hours of nightly...

ELYRIA, Ohio – Matt Monaghan provided color on Invacare’s plans to emphasize “clinically valuable products” as a way to streamline its portfolio and offset higher costs, during a May 10 conference call to discuss the company’s first quarter financial results.  “If you take a bed, for example,  a low-end bed or a high-end bed has roughly the same amount of steel in it,” he said. “So, when the price of steel doubles or triples, you have a...

ELYRIA, Ohio – Invacare reported net sales of $201 million for the first quarter of 2022, a 2.4% increase compared to the same period last year.  For North America, net sales were $75.3 million vs. $76 million, a 0.9% decrease, with double-digit growth in sales of mobility and seating products offset by lower sales of lifestyle and respiratory products.   "In 1Q22, we delivered 2.4% reported net sales and 6.4% constant currency net sales growth driven by sales of mobility &...

GOLETA, Calif. – Supply chain challenges, as well as a temporary shutdown at facilities in Texas and California earlier this year, forced Inogen to prioritize available supply in the first quarter of 2022 to its domestic direct-to-consumer and rental channels, contributing to an 83.4% drop in revenues for its business-to-business channel.  “As of early May, we have started shipments to our domestic B2B channel in order to alleviate some of the backlog in our system,”...

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...

IGOLETA, Calif. – Inogen reported total revenue of $80.4 million for the first quarter of 2022, down 7.5% from the same period in 2021, primarily due to supply chain constraints.  The company says, however, that total revenue was up 5.2% sequentially from the fourth quarter of 2021.  Inogen reported revenue of $34.4 million for its domestic direct-to-consumer channel, up 12.2%; and revenue of $5.1 million for its domestic business-to-business channel, down 83.4%. It reported...

WASHINGTON – The Food and Drug Administration’s Center for Devices and Radiologic Health has proposed that an order should be issued to require Philips to submit a plan to repair, replace or refund the purchase price of recalled devices manufactured after November 2015.  The FDA says Philips has the right to an informal hearing prior to the agency’s decision on whether to issue the order.  The CDRH’s proposal is in addition to the FDA’s previous...

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,...