ResMed Archives - Medical Design Sourcing

ResMed launches new sleep apnea mask

The AirFit F40 sleep apnea mask. [Image from the ResMed website]ResMed (NYSE: RMD) + announced today that it launched the AirFit F40 ultra-compact, full-face mask for sleep apnea.

San Diego-based ResMed designed AirFit F40 to offer the comfort of smaller masks without sacrificing performance. This could, in turn, help with sleep apnea therapy compliance for users of high-pressure continuous positive airway pressure (CPAP) treatment.

According to a news release, the mask addresses those issues with necessary pressure support in a more comfortable, low-profile way. The company aimed to make it ideal for those who sleep on their side, are claustrophobic and want the stability and seal of a universal-fit mask in a minimalist design.

ResMed said a clinical study found that 88% of patients rated AirFit F40’s mask cushion as soft and comfortable. On top of that, 100% found it easy to use.

The company said its…

ResMed launches new bilevel sleep respiratory devices

ResMed (NYSE: RMD) + announced today that it launched its AirCurve 11 series bilevel positive airway pressure devices in the U.S.

San Diego-based ResMed describes the AirCurve 11 series as its newest range of bilevel devices that use two levels of support. They use inspiratory positive airway pressure (IPAP) and expiratory positive airway pressure (EPAP). Combined with digital technology, AirCurve 11 was designed to help providers treat sleep apnea while patients start and stay on therapy.

ResMed built AirCurve 11 devices on its market-leading AirSense 11 platform with the aim of addressing the challenges some patients have adapting to continuous positive airway pressure (CPAP) therapy. ResMed is one of the market leaders in the CPAP and sleep respiratory space, especially with Philips out of the market following its massive CPAP recall.

The company designed AirCurve 11 VAuto to improve comfort and help complian…

ResMed stock rises on Street-beating Q2

ResMed (NYSE: RMD) + shares ticked up today on second-quarter results that came in ahead of the consensus forecast.

Shares of RMD increased by 6.6% to $183.16 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose by 1%.

The San Diego-based sleep respiratory device maker posted profits of $208.8 million in the quarter. That equals $1.42 per share on sales of $1.16 billion for the three months ended Dec. 31, 2023. ResMed recorded a 7.2% bottom-line slide despite sales growth of 12.5%.

Adjusted to exclude one-time items, earnings per share totaled $1.88. That landed 8¢ ahead of expectations on Wall Street. Sales narrowly topped projections of $1.15 in revenue.

ResMed cited increased demand for sleep devices and strong growth across its mask product portfolio as growth drivers. However, it noted a margin…

ResMed CPAP masks recall is Class I

The AirTouch N20, one of the devices affected by the corrective action. [Image from ResMed]The FDA announced that ResMed’s voluntary recall of millions of CPAP mask magnets is now Class I, the agency’s most serious level.

Last month, ResMed (NYSE: RMD) + warned CPAP users about potential magnetic interference when magnets go near certain implants and medical devices in the body.

People using CPAP masks with magnets only need to return them if they’re contraindicated. ResMed instead instructed people using the masks to keep the magnets at least 6 in. away from implants or medical devices that could be affected — and to check with physicians and device makers about whether magnetic fields could negatively affect an implant.

ResMed also has an updated webpage with information about the potential problems.

More about the ResMed CPAP masks recall

In its announcement yesterday of the Class I des…

ResMed warns on updates to masks with magnets

The AirTouch N20, one of the devices affected by the corrective action. [Image from ResMed]ResMed (NYSE: RMD) + announced today that it’s conducting a voluntary global field action to update guides for all masks with magnets.

San Diego-based ResMed informed users of potential magnetic interference when magnets go near certain implants and medical devices in the body. The company doesn’t require a return of a mask with magnets unless the patient is contraindicated.

All ResMed masks containing magnets remain safe when used in accordance with the field safety notice and updated instructions.

Philips had a similar recall related to magnets and implanted devices just over a year ago.

ResMed provided a patient letter to healthcare providers that includes additional information regarding contraindications. It also has warnings for patients with the affected medical implants or devices.

The compan…

ResMed earns victory in patent spat with NYU

ResMed (NYSE: RMD) + announced that it secured a victory in a patent battle with New York University.

The San Diego-based respiratory device maker said the U.S. Patent Trial and Appeals Board (PTAB) invalidated NYU claims against ResMed. These claims came based on seven NYU patents.

In June 2021, NYU filed a complaint for patent infringement against ResMed in the U.S. District Court of Delaware. The complaint alleged that the AutoSet and AutoRamp features of ResMed’s AirSense 10 AutoSet flow generators infringed one or more claims of seven NYU patents.

The company’s AirSense 10 treats sleep apnea. ResMed says AirSense 10 is the world’s most widely used series of CPAP and APAP machines. AutoSet enables the machines to change airflow pressure levels throughout the night based on the user’s needs.

ResMed filed petitions with the PTAB asserting the invalidity of all claims asserted against t…

ResMed has a new operating model following recent layoffs

ResMed (NYSE: RMD) + 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 company’s leadership team.

Justin Leong, previously ResMed’s president for Asia and Latin America, takes over as the new chief product officer. The company selected its president in Germany, Katrin Pucknat, as its chief marketing officer. Mike Fliss, previously VP of North America sales, assumes the post of chief revenue officer.

These moves aim to increase the velocity of product development and sharpen customer and brand focus, according to a news release. The sleep respiratory technol…

ResMed is cutting its workforce as it seeks to refocus

ResMed (NYSE: RMD) + 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 this that impact people are never easy. However, we know that we are doing the right thing, and we’re doing the right thing to accelerate our growth and to refocus on our long-term mission,” CEO Mick Farrell said during the company’s earnings call yesterday evening.

ResMed has seen its revenue spike amid the massive recall at competitor Philips, but the growth may be slowing. Revenue was up 16% year-over-year to $1.1 billion in the first quarter that ended Sept. 30, 2023. It was up 23% in the previous quarter.

“We have stopped some project…

ResMed executive pay increases; CEO’s total comp jumped 19%

Resmed logo

ResMed recently disclosed pay packages for its top executives, reporting boosts in total compensation for its CEO and his leadership team.

The respiratory device manufacturer has had the market mostly to itself ever since 2021, when competitor Philips started recalling millions of Respironics continuous positive airway pressure (CPAP) machines. Despite that advantage, ResMed has struggled to ramp up manufacturing volume, sales and profitability due to supply chain challenges, including shortages of semiconductors and other electronic components as well as higher costs for components, manufacturing and warehousing.

ResMed closed fiscal 2023 (ended June 30, 2023) with year-over-year revenue growth of 23% and net income growth of 15%. But the company’s fourth-quarter results disappointed analysts, and its stock has been sliding ever since.

ResMed’s top-paid executives

ResMed shares near 52-week low after disappointing results

ResMed (NYSE: RMD) + 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) devices. ResMed has had the CPAP device market to itself since then.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — is relatively unchanged today.

The San Deigo–based sleep respiratory technology maker posted profits of $228.7 million. That amounts to $1.56 per share on sales of $1.12 billion for the quarter ended June 30, 2023.

ResMed profits decreased 18% compared to the prior-year quarter but posted sales growth of 23%.

Adjusted to e…

ResMed acquires respiratory diagnostics software developer Somnoware

ResMed (NYSE: RMD) + 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 documentation, personnel planning, administration and billing, among other things.

ResMed declined to disclose the financial terms of the transaction. The company said the terms remain immaterial to its consolidated financial results.

Somnoware designed its software to streamline the processes of physicians and sleep and pulmonary function testing labs as they diagnose and evaluate sleep and respiratory care test results. Through the platform, positive airway pressure (PAP) therapy can run more efficiently.

It ena…

ResMed study shows how PAP adherence reduces hospitalizations

ResMed (NYSE:RMD) 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 retrospective study analyzed 1,472 people, split down the middle between PAP-adherent and non-adherent patients. It showed people with OSA and systolic heart failure who remained adherent to PAP had 24% fewer ER visits. They also incurred 40% lower costs related to hospitalizations and ER visits over one year ($3,500 vs. $5,879) compared to non-adherent patients.

ResMed said its second retrospective study analyzed 1,926 people, against split down the middle between the two adherence levels. It demonstrated that PAP-adherent people with OSA and diastolic heart fai…