Tag: Mick Farrell
ResMed targets resupply, rePAP for growth
October 25, 2024Liz Beaulieu, Editor
SAN DIEGO – ResMed is redoubling efforts to increase resupply with plans to make Snap, a software platform that monitors orders, performance and patient eligibility in real-time, available to all HME providers, not just those using Brightree.
The company reported a “really solid” 10% increase in sales for mask and accessories in the United States, Canada and Latin America for the first quarter of fiscal year 2025, on an “extraordinary comp” of 23% for...
ResMed sees nothing but ‘tailwind’
April 26, 2024Liz Beaulieu, Editor
SAN DIEGO – The impact of GLP-1 drugs on the CPAP therapy market has stolen the headlines recently, but ResMed Chairman and CEO Mick Farrell says the impact of wearables might be “a higher tidal wave.”
Farrell, on a recent conference call to discuss the company’s financial results for the third quarter of its fiscal year 2024, noted the Samsung Galaxy Watch’s recent de novo authorization from the U.S. Food and Drug Administration to detect signs of sleep apnea...
ResMed on mask recall, big tech and demand-gen
January 26, 2024Liz Beaulieu, Editor
SAN DIEGO – ResMed CEO Mick Farrell said a recall of its CPAP masks with magnets did not impact the company’s sales for the second quarter ended Dec. 31, 2023.
ResMed in November issued an urgent field safety notice to patients detailing possible interference with its AirFit and AirTouch masks and certain medical devices; the company in December then announced a voluntary global field action to update its guides. The U.S. Food and Drug Administration in January classified...
ResMed starts tracking patients on both weight loss drugs, CPAP therapy
January 5, 2024Liz Beaulieu, Editor
YARMOUTH, Maine – ResMed CEO Mick Farrell believes that, based on the company’s early research, weight loss drugs will be a “net positive” for patient flow for sleep apnea.
“I mean, I think there's $1 trillion worth of market cap now from these (pharmaceutical) companies and they will turn that into marketing to bring people in for the miracle drug,” he said during a recent conference call to discuss ResMed’s latest financial results. “And...
ResMed restructures workforce
October 27, 2023Liz Beaulieu, Editor
SAN DIEGO – ResMed has reduced its global workforce by 5%, or about 500 people, to “accelerate profitable growth and power long-term success,” says CEO Mick Farrell.
Reductions are never easy, but “we know we are doing the right thing,” he said during a conference call to discuss the company’s financial results for the first quarter of its fiscal year 2024.
“We have stopped some projects that were not working out as well as we thought,”...
ResMed firing on all cylinders
April 28, 2023Liz Beaulieu, Editor
SAN DIEGO – ResMed posted a 48% increase in device sales in the U.S., Canada and Latin America for the third quarter of FY2023 compared to the same period in 2022, on the backs of “unconstrained access” to its AirSense 10 cloud-connected CPAP machine.
“Incredible growth – an all-time high,” said Mick Farrell, CEO, during a conference call to discuss the company’s financial results on April 27. “Many factors have gone into that, but primarily,...
ResMed signals possible end to CPAP crunch
January 27, 2023Liz Beaulieu, Editor
SAN DIEGO – ResMed was able to take its AirSense 10 fully connected CPAP device off allocation in the U.S. market in January, CEO Mick Farrell said during a conference call to discuss its financial results for the second quarter fiscal year 2023.
Furthermore, the company expects to be able to meet all demand before the end of this calendar year, he said, paving the way for providers to get patients on therapy in days or weeks vs. months at the height of a supply crisis created by a...
ResMed strives to be ‘true sleep therapy company’
September 16, 2022Liz Beaulieu, Editor
SAN DIEGO – ResMed is taking another step to diversify its product offerings, as well as boost its digital health presence, with its recently announced acquisition of mementor, says CEO Mick Farrell.
mementor, which is based in Leipzig, Germany, develops and sells digital medical products and has the only permanently listed digital health application in sleep medicine that is reimbursed by statutory insurances in the country.
“As we consider opportunities to address...
ResMed aims to ‘lock in’ increasing market share
August 12, 2022Liz Beaulieu, Editor
SAN DIEGO – Mick Farrell’s tone has shifted slightly when it comes to ResMed increasing its market share amid a major competitor’s recall.
During a conference call to discuss the company’s fourth quarter and fiscal year 2022 financial results, the CEO said he no longer looks at it as “incremental or temporal.”
“This is permanent share taking,” he said. “We’re going to go in, we’re going to get share and we’re...
ResMed: ‘This is a humanitarian emergency’
April 29, 2022Liz Beaulieu, Editor
SAN DIEGO – ResMed has “five lines of work” to pump more of its CPAP devices into the market amid ongoing supply chain challenges, including a new AirSense 10 card-to-cloud device, says CEO Mick Farrell.
The company has launched the device – which is “basically an AirSense 10 without the cell chip in it,” says Jim Hollingshead, president, Sleep and Respiratory Care Business – only in select markets, but it’s in the process of adding markets.
“Look,...