Home Article F&P sees increased demand due to COVID-19 surges 

F&P sees increased demand due to COVID-19 surges 

F&P sees increased demand due to COVID-19 surges 

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By HME News Staff

Updated 8:24 AM CST, Fri January 22, 2021

Lewis GradonAUCKLAND, New Zealand – Fisher & Paykel Healthcare reports operating revenue for the nine months ended Dec. 31, 2020, was up 73% in constant currency compared to the prior comparable period. 

In the hospital product group, operating revenue was up 113%, with hardware growing 446% and consumables growing 54%. 

“In many parts of the world, we have continued to see an influx of COVID-19 patients requiring hospitalization for respiratory treatment,” said Lewis Gradon, managing director and CEO. “Given the elevated hospitalization rates for COVID-19, our hospital hardware sales have continued to be very strong, as has the use of our hospital hardware.” 

In the homecare product group, operating revenue was up 6%.  

Due to the significant variability on a month-to-month basis for both the hospital hardware and consumables revenue, F&P says its previous guidance for fiscal year 2021 is outdated. The company now expects revenue and net profit after tax for FY2021 to be higher. 

F&P also made the following observations about the nine-month period: 

  • Hospital hardware sales and usage continue to generally track local hospitalization surges in countries around the world. 
  • The volume of air freight continues to be higher than normal and freight costs remain elevated.
  • In home care, OSA diagnosis rates continue to be reduced, offset by strong growth in our products used for nasal high flow therapy in the home.
  • The company continues to progress the acceleration of investment in manufacturing capacity. 

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