ResMed announced that it’s implementing a new operating model to accelerate long-term growth. San Diego-based ResMed’s operational shift follows a recent restructuring effort that included a 5% workforce reduction. The new operating model introduces dedicated leadership in product, revenue and marketing to the company’s executive team. It includes a series of executive moves within the […]
ResMed
ResMed is cutting its workforce as it seeks to refocus
ResMed announced that it is reducing its workforce by about 5% as part of a restructuring it plans to complete in the present quarter. The San Diego–based maker of CPAPs and other respiratory devices listed a headcount of 8,160 in its most recent annual report, which means roughly 400 workers could be affected. “Decisions like […]
ResMed shares near 52-week low after disappointing results
ResMed shares are down on fourth-quarter sales and profits that missed Wall Street’s expectations. The device manufacturer’s stock was trading around $183.58 per share near noon, approaching the 52-week low of $181.50. The stock hasn’t closed below $188 since April 2021, when competitor Philips initiated a recall of millions of continuous positive airway pressure (CPAP) […]
ResMed acquires respiratory diagnostics software developer Somnoware
ResMed announced that it acquired respiratory care diagnostics software developer Somnoware. This move marks the second software buy in the past year for ResMed. The San Diego-based sleep respiratory treatment maker bought Medifox Dan for $1 billion in November 2022. Medifox Dan develops clinical, financial and operational software for out-of-hospital care providers. It offers care […]
ResMed studies show how PAP adherence reduces hospitalizations
ResMed today announced two studies highlighting the benefits of positive airway pressure (PAP) therapy adherence. The studies demonstrated reductions in hospitalizations and emergency room visits, as well as costs, thanks to PAP therapy adherence. ResMed presented the study, which evaluated people with heart failure and obstructive sleep apnea (OSA), at SLEEP 2023 in Indianapolis. One […]
Two new executives join ResMed’s C-suite
ResMed this week announced it appointed two new executives to its C-suite. Michael Rider was appointed as global general counsel and secretary, effective July 1. Dawn Haake was appointed to serve as ResMed’s first chief quality officer, effective May 1. Both were internal promotions and joined the executive team on May 1. Rider will remain […]
ResMed sales up nearly 30% in Q3 amid rising demand
ResMed shares ticked up today on third-quarter results that topped the consensus forecast. Shares of RMD rose 1.2% at $228 apiece before the market opened this morning. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — started the day up 0.2%. The San Deigo-based sleep respiratory technology maker […]
ResMed chief administrative officer, general counsel to retire, replacement comes from within
ResMed (NYSE:RMD) announced that David Pendarvis, chief administrative officer, global general counsel and secretary, intends to retire. Pendarvis plans to make his retirement effective June 30, 2023. For the remaining six months through Dec. 31, he will remain in a consulting role with ResMed. San Diego-based ResMed plans to conduct an internal search for the […]
11 of the biggest medtech earnings stories from Q4 2022
Layoffs, growth and more — the biggest medtech companies in the world experienced a range of outcomes in the fourth quarter of 2022. Over the past two months, many of the largest medtech companies across the globe reported their financial results for the three months ended Dec. 31, 2022 (with a handful of exceptions due […]
ResMed revenue up 16% as it boosts production amid CPAP shortages
ResMed (NYSE: RMD, ASX: RMD) reported Street-beating Q2 results as it boosted production to meet the demand created by Philips’ massive respiratory device recall. The San Diego–based maker of CPAPs and other respiratory devices earned $224.9 million, or $1.53 per share, off nearly $1.034 billion in revenue for the quarter that ended Dec. 31, 2022. […]
ResMed completes $1B acquisition of Medifox Dan
ResMed (NYSE:RMD) announced today that it completed its previously announced acquisition of Medifox Dan. In June, ResMed announced an agreement to acquire Medifox Dan for €958.6 million ($984.5 million). Medifox Dan develops clinical, financial and operational software for out-of-hospital care providers. It offers care documentation, personnel planning, administration and billing, among other things. When the […]
