In brief: Geriatric Medical buys DDP, ResMed talks strategy, NCPA launches new PBM ad
By HME News Staff
Updated 8:42 AM CDT, Wed October 2, 2024
WOBURN, Mass. – GMSS, the parent company of Geriatric Medical & Surgical Supply, has acquired DDP Medical Supply, significantly expanding its footprint and forming what it says is “the nation’s leading medical supply distribution networks focused on chronic, post-acute and home care providers.”
Both companies will maintain their unique brands and market-focused solutions, while benefiting from increased scale, enhanced distribution infrastructure and expanded service offerings, according to a press release.
“By keeping both the Geriatric Medical and DDP brands intact, we can leverage our combined distribution networks and technological resources to deliver a best-in-class customer experience,” said Jeffrey Siegal, CEO of GMSS Holdings and Geriatric Medical. “Together, we are uniquely positioned to drive innovation and elevate the standard of service, ensuring greater value for our customers and partners."
St. Petersburg, Fla.-based DDP Medical Supply is a distributor of medical and diabetic supplies to DME providers nationwide. It also distributes pharmaceuticals and a fall range of medical supplies to pharmacies, physician offices and other post-acute care providers.
Brian O'Neill, president of DDP Medical Supply, added: "This partnership allows us to share resources and best practices with Geriatric Medical, a recognized industry leader. Expanding our distribution footprint will enable us to better serve our customers nationwide and deliver the high-quality products they need, when they need them."
Joe DiFabio, founder and CEO of DDP Medical Supply, added: "The increased scale and the combined leadership of both companies will benefit each division and strengthen our position in the market. The alignment of our shared values and commitment to quality ensures that our customers will see a seamless transition and continued service excellence."
ResMed announces strategy, outlook
SAN DIEGO – ResMed unveiled its 2030 strategy to drive growth, profitability and shareholder returns, including investing 7% in R&D, at an Investor Day in New York City.
The company also announced its five-year revenue and earnings growth outlook, reflecting its plans to accelerate product and technology innovation, operational excellence, commercial execution and financial strength.
“By building on our leadership in connected digital health, our 2030 Strategy will further enable us to transform sleep health, breathing health, and health tech at home through world-class products and digital solutions,” said Mick Farrell, chairman and CEO. “We remain focused on delivering a more integrated and intelligent ResMed ecosystem, transforming the consumer and provider experience to offer better care, simplify the health journey, and improve access to our therapies. As we grow our core sleep apnea market, we will also leverage our strong financial position and expertise in broader sleep health to expand into adjacent markets and accelerate the release of new products at an unprecedented velocity.”
ResMed’s 2030 strategy will focus on three pillars to drive growth:
- Grow and differentiate its core sleep apnea franchise, led by demand generation and demand capture;
- Capitalize on its market opportunity and brand advantage in broader sleep health and breathing health adjacencies; and
- Invest 7% of revenue into R&D to invent, create and differentiate a fully integrated ecosystem for health technology delivered at home.
ResMed’s five-year financial outlook includes high single-digit revenue growth and earnings growth higher than revenue growth.
“Since our last Investor Day in 2021, we have delivered on our commitments, and this new outlook reinforces that ResMed is well positioned to maintain its track record of strong financial performance,” said Brett Sandercock, CFO. “Our financial strength and low capital requirements create robust cash generation, and our capital allocation strategy will continue to prioritize innovation – through reinvestment in our core business, a disciplined and strategic approach to M&A, and a balanced capital return policy. We are confident this approach will deliver significant value to shareholders as we execute our 2030 Strategy.”
NSM enhances festival
NASHVILLE, Tenn. - National Seating & Mobility returned as the official ADA sponsor of the 2024 Pilgrimage Music & Cultural Festival on Sept. 28-29 at The Park at Harlinsdale Farm in Franklin, Tenn. This marks the fifth year the company has partnered with the festival to provide ADA accessible viewing for attendees with disabilities throughout the two-day event. “NSM was pleased to be a part of The Pilgrimage Festival hosted in the heart of our corporate headquarters’ hometown again this year,” said Crispin Teufel, NSM CEO. “We are proud to have served as the event’s official ADA sponsor to enhance the festival experience for individuals with disabilities who travel from all over to be a part of this much anticipated annual event.” NSM’s sponsorship provided ADA accessible viewing platforms offering an unobstructed view of the festival’s two main stages for guests with disabilities. NSM team members served as hosts for each platform. This year marked the 10th anniversary of the annual multi-genre festival and headliners included Dave Matthews Band, Hozier, Noah Kahan and NEEDTOBREATHE.
ResMed launches smartwatch app, health concierge, travel gear & fabric mask
SAN DIEGO – ResMed has launched several patient-centric products designed to enhance their therapy for sleep apnea, including several new features for its myAir App. New features for myAir include smartwatch apps for Apple and Android, sleep staging from Apple Health and Health Connect, personalized coaching and holistic trending. “We know that digital wearables and other innovative technologies like AI can help consumers better understand their sleep habits and create a personalized pathway to better rest,” said Carlos M. Nunez, M.D., chief medical officer at ResMed. “Regular sleep tracking can offer crucial insights that empower people to make informed decisions about improving their sleep quality both now and in the future.” ResMed has also launched Dawn, an AI-enabled health concierge that provides instant, 24/7 access to answers about sleep, the company's products and therapy support; and LUXE, a line of travel gear for CPAP users that includes tote bags and backpacks with modular inserts to securely carry CPAP equipment and accessories. ResMed has also announced that it has launched its first fabric mask, the AirTouch N30i. The mask features a soft, breathable and moisture wicking design for comfort in a tube-up design.
Oxygen stakeholders plan awareness day
MIAMI – The second annual World Oxygen Day, led by the COPD Foundation and supported by Nonin, will be held Oct. 2. The day brings together more than a dozen global patient advocacy organizations and professional societies to recognize and raise awareness of the importance of oxygen and oxygen therapy. “Oxygen is a fundamental need for human life, but our global health care infrastructure does not always reflect that,” said Mike Hess, MPH, RRT, RPFT, senior director of advocacy and regulatory affairs for the COPD Foundation. “Everybody needs oxygen. Some bodies need a little extra. Supporting the World Oxygen Day campaign helps get them what they need.” World Oxygen Day raises awareness of issues involving oxygen therapy by sharing the latest information, advocating for improved access to appropriate equipment, and reducing the stigmas and stereotypes that surround long-term supplemental therapy. A variety of activities and awareness efforts are planned for World Oxygen Day, including promoting new research data from the Oxygen CoLab, educational webinars, and personal messages of hope and support from the oxygen community. In the United States, a key focus is lobbying for the Supplemental Oxygen Access Reform (SOAR) Act, bipartisan legislation designed to make supplying oxygen equipment more patient-centric and business friendly.
NCPA releases new PBM ad
ALEXANDRIA, Va. – The National Community Pharmacists Association has released a new digital ad as part of its ongoing campaign to push lawmakers to enact pharmacy benefit manager reform. In the ad, Bil and Shanon Schmidtknecht of Wisconsin speak out against PBMs after their 22-year-old son, Cole, went to get his Advair prescription refilled at a chain pharmacy early this year — a medicine he had been taking for a decade — and was told it was suddenly more than $500. He had to make the decision to pay his rent or pay for his expensive medicine. A few days later, he had an asthma attack, and on the way to the ER he went into cardiac arrest. He died a few days later. “We all as Americans deserve medication that our doctors and us have decided is in our best interest,” Shanon says in the ad. “People’s lives, their health care, their wellbeing doesn’t have a price tag on it.” Bil reached out to NCPA in August to strategize and coordinate. In addition to their participation in the digital ad, the Schmidtknechts traveled to Washington, D.C., with NCPA and the PBM Accountability Project in September for meetings with numerous members of Congress and officials from the Biden administration. Bil will also be attending NCPA’s Annual Convention in October.
HME Home Health takes No. 376 spot
RICHMOND, British Columbia – HME Home Health has announced that it has been named to The Globe and Mail’s Canada’s Top Growing Companies list for the third year in a row. The company ranked No. 376 out of 416 on three-year revenue growth of 75%. "HME has seen exceptional growth, not only in our revenue but also in our dedicated team, which now numbers over 130 members," said Robert Boscacci, HME Home Health's CEO and co-founder. "To be recognized by The Globe and Mail – one of Canada's foremost business newspapers, for the third year in a row, is an outstanding achievement. A notable reason for our growth has been our diversification into new markets and the launch of our HME e-Store enabling online orders from B.C. and Alberta." Starting from a single operation in B.C.'s Lower Mainland a decade ago, HME Home Health has expanded aggressively across the province in recent years and has eight locations and more than 80,000 square feet of office and warehouse space in Richmond, Victoria, Surrey, Nanaimo, North Vancouver, Kelowna, and Sechelt. The company's workforce is comprised of more than 130 highly-trained professionals, technicians and support staff.
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