ResMed posts double-digit growth
By HME News Staff
Updated 8:17 AM CDT, Fri August 4, 2023
SAN DIEGO – ResMed reported revenue increased 23% to $1.1 billion in the fourth quarter and revenue increased 18% to $4.2 billion for the full year 2023.
“ResMed’s fourth quarter and full-year 2023 results reflect strong double-digit growth as we continue to produce and deliver cloud-connected flow generator device volume to meet the ongoing strong global demand from patients, accompanied by high growth of our market-leading patient interface and software solutions,” said Mick Farrell, chairman and CEO of ResMed. “The combined global supply of our cloud-connected platforms, AirSense10 and AirSense11, have enabled us to support all available customer demand for CPAP and APAP devices across the global market. The strong growth of our mask and patient interfaces business was supported by new patient setups as well as ongoing resupply activity as we focus on increasing therapy adherence to improve patient outcomes and quality-of-life.”
Net income increased 18% in the fourth quarter and 15% for the full year.
ResMed reported revenue in the U.S., Canada and Latin America, excluding software-as-a-service, increased 25% in the fourth quarter, driven by increased demand for its sleep and respiratory care devices, as well as reduced competitive supply.
It reported revenue for software-as-a-service increased 34%, reflecting incremental revenue from its acquisition of MEDIFOX DAN and continued organic growth in the portfolio.
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