You might also like
ResMed Inc. is a global leader in digital health and cloud-connected medical devices, focusing on treating and managing respiratory disorders such as sleep apnea and chronic obstructive pulmonary disease (COPD), as well as other chronic diseases . The company designs innovative solutions to improve patient quality of life, reduce the impact of chronic disease, and lower healthcare costs by shifting care from hospitals to home settings . ResMed's product lines include medical devices like CPAP systems, mask systems, diagnostic products, and cloud-based software applications for connected care .
- Masks, Diagnostic Products, and Accessories - Develops and markets a range of masks, diagnostic tools, and accessories essential for the treatment and management of respiratory disorders.
- Software as a Service (SaaS) - Offers out-of-hospital software platforms that support healthcare providers in managing patient care outside of hospitals, enhancing operational efficiencies and patient outcomes.
- CPAP Systems - Provides continuous positive airway pressure (CPAP) systems designed to treat sleep apnea and improve patient breathing during sleep.
- Cloud-Based Software Applications - Delivers connected care solutions through cloud-based software, facilitating remote monitoring and management of patient health data.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Michael Farrell ExecutiveBoard | Chairman and CEO | Board Member at Zimmer Biomet; Trustee at UC San Diego Foundation, Rady Children’s Hospital, and Father Joe’s Villages; Advisory Board Member at UCSD Rady School of Management and Boston College Engineering. | Joined ResMed in 2000; CEO since March 2013; Chairman since January 2023; extensive experience in healthcare and technology. | View Report → |
Bobby Ghoshal Executive | Chief Commercial Officer, SaaS | None | Joined ResMed in 2016; previously CTO and President of SaaS business; over 25 years of experience in technology across multiple industries. | |
Brett Sandercock Executive | Chief Financial Officer (CFO) | None | Joined ResMed in 1998; CFO since January 2006; previously VP of Treasury and Finance; certified chartered accountant. | |
Justin Leong Executive | Chief Product Officer | None | Joined ResMed in 2013; previously President of Asian and Latin American markets; extensive experience in strategy and international business. | |
Michael Rider Executive | Global General Counsel and Secretary | None | Joined ResMed in 2012; promoted to Global General Counsel in July 2023; extensive legal experience in healthcare and corporate governance. | |
Carol Burt Board | Director | Board Member at IQVIA Holdings and EBR Systems; Senior Advisor at Consonance Capital Partners; Trustee at The Nature Conservancy. | Director since 2013; extensive experience in healthcare and financial services; former SVP at WellPoint. | |
Christopher DelOrefice Board | Director | EVP and CFO of Becton, Dickinson and Company (BD). | Director since August 2024; extensive experience in finance and healthcare; previously VP of Investor Relations at Johnson & Johnson. | |
Desney Tan Board | Director | Corporate VP at Microsoft; Board Member at 1910 Genetics and Artificial; Advisor at IntuitiveX and Proprio. | Director since 2021; expert in AI, machine learning, and digital health; leads health and life sciences R&D at Microsoft. | |
Harjit Gill Board | Director | CEO of APACMed; Board Member at Alticor Inc. and MAS Holdings. | Director since 2018; extensive experience in consumer healthcare and international business; former EVP at Philips. | |
Jan De Witte Board | Director | President and CEO of Integra Life Sciences; Board Member at AdvaMed. | Director since May 2019; extensive experience in healthcare technology and global operations; former CEO of Barco and GE Healthcare executive. | |
John Hernandez Board | Director | Head of Health Impact at Google; Board Member at Carmat, SA. | Director since 2021; extensive experience in health economics and digital health technologies; leads AI-driven healthcare initiatives at Google. | |
Karen Drexler Board | Director | Board Member at Outset Medical, EBR Systems, VIDA Diagnostics, Huma.ai, and Bone Health Technologies; Mentor at Astia and StartX. | Director since 2017; extensive experience in digital health and medical devices; former CEO of Sandstone Diagnostics. | |
Richard Sulpizio Board | Lead Independent Director | Honorary Board Member at UCSD Sulpizio Family Cardiovascular Center. | Director since 2005; former President and COO of Qualcomm; extensive experience in technology and governance. |
- Given your expansion into adjacent areas like insomnia and COPD, can you elaborate on how you plan to effectively compete in these markets and what specific investments you're making to ensure growth in these areas?
- With major consumer tech companies like Apple and Samsung entering the sleep apnea detection space, how do you intend to differentiate ResMed's offerings to capture the potential increase in patient demand and prevent possible disruptions to your traditional business model?
- Considering the price increases implemented last year due to supply chain challenges, what is your pricing strategy moving forward, and how do you anticipate this will impact your relationships with customers and your competitive position in the market?
- Despite increasing production capacity for the AirSense 11, you mentioned there might still be a backlog of patients waiting for this device; what challenges are you facing in fully meeting the demand, and how might this impact your market share if competitors fulfill orders more promptly?
- Your recent "tuck-in" acquisitions like Snap Technologies, Somnoware, and NightOwl have added new capabilities; can you clarify your M&A strategy going forward, specifically regarding the scale of acquisitions you're considering and how you plan to balance these investments with capital management as your free cash flow increases?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Philips BV | A primary competitor in the Sleep and Respiratory Care market, competing on product features, value-added solutions, quality, reliability, and price. |
Fisher & Paykel Healthcare Corporation Limited | A primary competitor in the Sleep and Respiratory Care market, competing on product features, value-added solutions, quality, reliability, and price. |
DeVilbiss Healthcare | A primary competitor in the Sleep and Respiratory Care market, competing on product features, value-added solutions, quality, reliability, and price. |
Apex Medical Corporation | A primary competitor in the Sleep and Respiratory Care market, competing on product features, value-added solutions, quality, reliability, and price. |
BMC Medical Co. Ltd. | A primary competitor in the Sleep and Respiratory Care market, competing on product features, value-added solutions, quality, reliability, and price. |
React Health Corporation | A primary competitor in the Sleep and Respiratory Care market, competing on product features, value-added solutions, quality, reliability, and price. |
Lowenstein | A primary competitor in the Sleep and Respiratory Care market, competing on product features, value-added solutions, quality, reliability, and price. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
MEDIFOX DAN | 2022 | Completed on November 21, 2022, this $997.5 million acquisition—funded via a revolving credit agreement—brought advanced German software solutions for out‑of‑hospital care to ResMed, enhancing its SaaS business with significant goodwill and intangible assets (goodwill: $767.7M; intangible assets: $250.6M), and contributed notably to fiscal year 2024 revenue growth. |
Somnoware | 2023 | Closed in the fourth quarter of 2023, the acquisition of this U.S.-based leader in digital sleep and respiratory care diagnostics software strengthened ResMed’s end-to-end healthcare ecosystem through an upstream diagnostic management platform, with the deal terms being commercially non-material and partly financed through a revolving credit facility. |
mementor | 2022 | Completed in 2022, the acquisition of this German and Swiss digital health startup—developer of somnio, the first permanently approved DiGA in sleep medicine—allowed ResMed to expand beyond sleep apnea therapy into broader sleep disorder treatment, supporting its strategy to grow in the European market. |
Recent press releases and 8-K filings for RMD.
- Revenue growth: Revenue increased by 8% to $1.3B (reported at $1,291.7M vs. $1,197.0M last Q3 FY24) with solid margin expansion and improved operational efficiencies .
- Operating performance: GAAP Operating Income reached $426.3M with operating cash flow of $579M, underscoring robust earnings .
- Free cash flow & liquidity: Free cash flow hit $1,568.8M and the balance sheet remained strong with net cash of $260M, supporting strategic investments .
- Capital allocation: Updated strategy featuring an increased quarterly share buyback (from $75M to $100M) alongside a declared quarterly cash dividend of $0.53 per share .
- Product & market innovation: Launch of the AirSense 11 VPAP Tx and enhancements to digital health platforms (NightOwl, myAir, Somnoware) further reinforce ResMed’s digital health leadership and strong market demand .