Michael Matson's questions to Resmed Inc (RMD) leadership • Q2 2025
Question
Michael Matson from Needham & Company asked if the double-digit device growth was representative of new patient growth or if it included benefits from pricing, mix, or an increase in device replacements (rePAP).
Answer
Executive Michael Farrell acknowledged that while the base market growth is mid-single-digits, ResMed aims to outperform this through various initiatives. He confirmed that the rePAP opportunity for devices older than five years is a factor the company actively pursues, alongside new patient demand generation. He emphasized that the strong growth is a result of a multi-faceted approach including demand generation, curation, and conversion for both new and existing patients.