02/08/07
Look no further than the revenue growth of ResMed Inc, San Diego, Calif, to see evidence of the thriving sleep market. The record revenue announced by the company reached $178.4 million for the quarter ended December 31, 2006, a 22% increase over the quarter ended December 31, 2005.
“In the second quarter of fiscal 2007, overall Americas sales for our sleep products increased by 23%. Including sales from our motor division, Americas sales increased by 20% over the year ago quarter,” said Peter C. Farrell, PhD, chairman and CEO. “Sales growth in sleep products for the Americas reflects continuing strong demand for our Swift nasal pillows system, our full-face masks, and the Adapt SV, which was only launched in the previous quarter.”
In a conference call, Farrell looked forward to the company’s future success, expressing enthusiasm about the upcoming launch of the Quatro full-face mask. “I expect that the Quatro will be the largest selling full-face mask on the planet,” he said.
Farrell was also keen on the prospects of the Swift II and the C-series Tango for the lower end CPAP market. Tango is expected to launch at the upcoming Medtrade Spring conference, if the company can get supply chain issues worked out in time.
ResMed’s Adapt Servo Ventilation is also going great. “It is creating a lot of interesting noise in the marketplace” and, because it is the only FDA-approved product for central and mixed apneas, it is “the only game in town,” Farrell said.
“We are pleased with the in-roads we continue to make into the cardiology and complex sleep apnea markets with the Adapt SV, and we are making good progress with our Occupational Health strategy,” Farrell said.
