ResMed

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ResMed Inc.
TypePublic
IndustryMedical
Founded1989
FounderPeter C. Farrell
(Founder and Chairman)
HeadquartersSan Diego, California
Key people
  • Michael "Mick" Farrell (CEO)[1]
  • Robert Douglas (President and COO)[1]
ProductsMedical devices and digital solutions for sleep-disordered breathing and other respiratory disorders
RevenueUSD$3.2 billion (FY21)
Number of employees
8,000 (2021)
Websitewww.resmed.com Edit this on Wikidata

ResMed is a San Diego, California-based medical device company. It primarily provides cloud-connectable CPAP devices and masks for the treatment of sleep apnea, as well as devices and masks for treating chronic obstructive pulmonary disease (COPD), neuromuscular disease, and other respiratory-related conditions. It also provides a self-monitoring digital sensor and app for people who use inhalers to treat COPD or asthma via Propeller Health, which ResMed acquired in 2019.[2]

In addition to its Sleep and Respiratory Care business, ResMed also provides software as a service (SaaS) to out-of-hospital care agencies to streamline transitions of care into and between these care settings for seniors and their care providers (i.e. home medical equipment [HME], home health, home infusion pharmacy, hospice, skilled nursing facilities, life plan communities, senior living, and private duty). ResMed's SaaS business includes Brightree, which ResMed acquired in 2016,[3] and MatrixCare and HEALTHCAREfirst, both acquired in 2018.[4][5]

ResMed employs more than 8,000 employees worldwide as of June 2021.[6] The company operates in more than 140 countries worldwide[7] and has manufacturing facilities in Australia, Singapore, France, and the United States. Revenue was US$3.2 billion in fiscal year 2021, ending June 30, 2021.[8]

COVID-19 Response[]

ResMed, a top producer of sleep apnea treatment devices,[9] is also a leading global producer of ventilator devices that are cloud-connectable and intended for both home and hospital use, and one of seven selected to contribute to the U.S. National Stockpile in April 2020.[10] When the COVID-19 pandemic began, ResMed pivoted its global manufacturing operations to prioritize ventilators for people battling respiratory symptoms of the disease. Between January and June 2020, it produced over 150,000 ventilators and bilevel devices, 3.5 times more than the company's production in the same time period of the year before.[11] By the end of 2020, ResMed had produced and distributed "hundreds of thousands" of these devices around the world.[12]

History[]

In 1981, Professor Colin Sullivan (physician) and colleagues at the University of Sydney developed the first successful CPAP device as a non-invasive ventilation treatment (NIV) for obstructive sleep apnea syndrome (OSA). After publishing the results of his success in The Lancet, Sullivan, who patented the technology, sought a manufacturer that could roll the device around the world to help commercialize this life-changing technology. In 1986, he contacted Chris Lynch, Managing Director of the Baxter Medical Research Center and Vice President of R & D at Baxter Healthcare. Lynch's colleague, Dr. Peter C. Farrell, invested in Sullivan's CPAP on behalf of Baxter, and began clinical trials in a group of patients with severe OSA. In 1989, Farrell bought the technology from Baxter for A$1.2 million and launched ResCare to provide CPAP treatment to millions of OSA sufferers worldwide. In 1990, the company established a global headquarters in San Diego, California, and later changed its name to ResMed, short for "Respiratory Medicine."

Farrell was CEO from 1989 until March 1, 2013. On that day, his son Mick Farrell became CEO, and Robert Douglas became President and Chief Operating Officer. Peter Farrell transitioned to a non-executive role at the end of the year.[13] ResMed became a publicly traded company on the Nasdaq Stock Market in 1995. It moved to the New York Stock Exchange in 1999, and joined the S&P 500, a stock market index tracking the performance of 500 large companies listed on stock exchanges in the United States, in July 2017.[14]

Products[]

Devices[]

The following is not a complete list of ResMed devices; product availability varies by country and region. Contact your doctor or DME supplier if you have questions.

  • AirSense 11 - ResMed's latest PAP device series, with digital solutions designed to help introduce new users to treatment and guide them to long-term adherence
  • AirSense 10 - The world's first PAP series to be 100% cloud-connectable, enabling digital remote and self-monitoring. Also introduced built-in humidification and other comfort features
  • AirMini - the world's smallest PAP device, featuring waterless humidification
  • AirCurve and Lumis - ResMed's bilevel devices designed to treat complex forms of sleep apnea and to provide non-invasive ventilation for other respiratory conditions
  • Astral and Stellar - ResMed's leading ventilator devices, intended for both non-invasive and invasive ventilation in home and hospital settings

Masks[]

The following is not a complete list of ResMed masks; product availability varies by country and region. Contact your doctor or DME supplier if you have questions.

  • "Minimalist" masks (lighter, low-profile designs): AirFit P10 (nasal pillows), AirFit N30 (nasal), and AirFit F30 (full face)
  • "Freedom" masks (with top-of-head tubing to enable movement): AirFit P30i (nasal pillows), AirFit N30i (nasal), AirFit F30i (full face)
  • "Universal Fit" masks (designed to fit a wide range of users): AirFit N20 (nasal), AirFit F20 (full face)
  • "Ultra Soft" masks (with foam cushion): AirTouch N20 (nasal), AirTouch F20 (full face)

Other ResMed masks include:

  • Nasal pillows: Swift FX
  • Nasal: Swift FX Nano, Mirage FX
  • Full face: Mirage Quattro, Quattro Air, Ultra Mirage
  • Pediatric nasal: Pixi

False claims settlement[]

In January 2020, ResMed Corp. agreed to pay more than $37.5 million to resolve a dispute over alleged kickbacks paid to DME suppliers, sleep labs, and other healthcare providers in violation of the Anti-Kickback Statute.[15][16]

References[]

  1. ^ a b "ResMed Inc. Profile". MarketWatch.com. Retrieved November 21, 2021.
  2. ^ "ResMed Completes $225 Million Acquisition of Propeller Health". Business Wire. 7 January 2019. Retrieved 2021-11-21.
  3. ^ "ResMed to Acquire Brightree® for $800 Million". newsroom.resmed.com. 22 February 2016. Retrieved 2021-11-21.
  4. ^ "ResMed Completes Acquisition of MatrixCare". newsroom.resmed.com. 14 November 2018. Retrieved 2021-11-21.
  5. ^ "ResMed Completes Acquisition of HEALTHCAREfirst". newsroom.resmed.com. 9 July 2018. Retrieved 2021-11-21.
  6. ^ "Q4 2021 ResMed Inc Earnings Call on August 05, 2021: Edited Transcript" (PDF). investors.resmed.com. 5 August 2021. Retrieved 2021-11-21.
  7. ^ "Q4 2021 ResMed Inc Earnings Call on August 05, 2021: Edited Transcript" (PDF). investors.resmed.com. 5 August 2021. Retrieved 2021-11-21.
  8. ^ "ResMed Inc. Announces Results for the Fourth Quarter of Fiscal Year 2021". GlobeNewswire. 5 August 2021. Retrieved 2021-11-21.
  9. ^ "Amid chip shortages, ResMed CEO urges suppliers to prioritize medical devices over 'another cellphone'". San Diego Union-Tribune. 28 October 2021. Retrieved 2021-11-21.
  10. ^ "ResMed nets $32 million ventilator contract from federal government for COVID-19 fight". San Diego Union-Tribune. 5 August 2021. Retrieved 2021-11-21.
  11. ^ "How ResMed is advancing sleep and respiratory care". Medical Design & Outsourcing. 1 December 2020. Retrieved 2021-11-21.
  12. ^ "Q4 2021 ResMed Inc Earnings Call on August 05, 2021: Edited Transcript" (PDF). investors.resmed.com. 5 August 2021. Retrieved 2021-11-21.
  13. ^ "Founder of ResMed to Step Down as CEO; Mick Farrell to Take Top Post". San Diego Business Journal. February 20, 2013. Archived from the original on 28 July 2017. Retrieved 2021-11-21.
  14. ^ "MGM Resorts, ResMed, Packaging Corporation of America, A.O. Smith and Duke Realty Set to Join S&P 500; Others to Join S&P MidCap 400". S&P Global. 19 July 2017. Retrieved 2021-11-21.
  15. ^ "Resmed Corp. To Pay the United States $37.5 Million for Allegedly Causing False Claims Related to the Sale of Equipment for Sleep Apnea and Other Sleep-Related Disorders". 15 January 2020.
  16. ^ "ResMed Corp. $37.5 Million Settlement and Corporate Integrity Agreement".
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