Sleep disorder and breathing devices company ResMed banked $2.8 billion in revenue in the first half of 2023.
Sleep disorder and breathing devices company ResMed has significantly increased device production in the last few months, as its supply chain improved but competitors struggled, leading to a 10 per cent jump in revenue in the first half of 2023.
ResMed CEO Mick Farrell said the company had stepped up production and delivery of its airflow generating devices in the second quarter.“It’s an ongoing, supply chain-constrained market, [but] we’re seeing the supply chain improving every week, month and quarter and access to specific electronic components we need have increased,” he told analysts on a conference call.
The deal lets ResMed enter the German out-of-hospital market and was the third acquisition in the software space. Germany will be its first out-of-hospital market outside the US. The recall has benefited ResMed, which has picked up patients who could have otherwise gone to its competitors.“They’ll be starting from 0 per cent new patient share. And they won’t be fighting against ResMed straight out of the gate, they’ll be competing with the tier two and three players,” he said.CEO steps up as chairman
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