Respironics Inc, Murrysville, Pa, reported record financial results for fiscal year 2005. The year was marked by the company’s continued leadership in the global obstructive sleep apnea (OSA) marketplace, further acceptance and adoption of the company’s ventilation therapies in various geographic markets, successful international expansion, and the emergence of Children’s Medical Ventures as a growth driver for the company.
Additionally, Respironics made significant progress in fostering the development of new growth drivers for its business, including advanced respiratory drug delivery and the screening, diagnosing, and treatment of other sleep disorders. For the year ending June 30, 2005, net sales increased to $911.5 million, a 20% increase over the $759.5 million reported a year ago. “Our fiscal year ended with the 23rd consecutive quarter of the company meeting or exceeding its financial expectations,” says John Miclot, president and CEO. “Record results across our business units, combined with organizational growth and increased global market penetration, illustrate again the strength and balance of our company and our strategy.”
In 2006, Respironics will continue to focus on its two primary markets of sleep and respiratory care. “Our core sleep business has been providing growth by focusing on the diagnosis and treatment of OSA, but expansion beyond this core business to include products and services for other sleep disorders presents us with a significant opportunity through our Sleep Well Ventures business,” says Miclot. The home respiratory care business unit will support the respiratory-impaired patient in the home and will focus on growing Respironics’ market share in home ventilation and expanding the oxygen product line. “As we grow, we have more to offer one another—more opportunity for collaboration, greater resources for problem solving, a broader scope of reach and impact,” says Miclot. “We envision that fiscal year 2006 will be a milestone for Respironics—the year in which we exceed a billion dollars in revenue. It is an achievable goal, and one the company has worked toward steadily.”
ResMed Revenue Rises
ResMed Inc, San Diego, announced record revenue and income results for the quarter ended Sept 30, 2005. Revenue for the quarter was $127.1 million, a 45% increase over the quarter. “During the past year, we have expanded our international operations with several strategic acquisitions. The latter have contributed ventilation products, technologies, and expertise, as well as management depth, integrated distribution channels, and an expanded reach within Europe,” says Peter C. Farrell, PhD, chairman and CEO. “Our team has done an excellent job integrating these acquisitions and positioning ResMed for future growth in Europe. Recently, we also entered into an agreement to acquire PolarMed Holdings AS, a leading Scandinavian distributor with offices in Norway, Sweden, and Denmark.”
Pari Recognized with Frost & Sullivan Award
Frost & Sullivan’s recent analysis, “The U.S. Nebulizers Markets,” selected Pari Respiratory Equipment Inc, Midlothian, Va, as the recipient of the 2005 Product Differentiation Innovation Award for its Pari Trek compressor nebulizer system. “The product not only provides a quick and efficient aerosol treatment, but it [also] offers the unique benefit of being portable since it operates on three power options—worldwide AC (110-240 volts), rechargeable battery, and 12V DC,” says Susan Verille, vice president of sales for PARI. Each year, this award is given to a company that has best demonstrated the ability to develop and/or advance products with more innovative capabilities than those of competing vendors. “PARI’s global presence provides a valuable insight into patient perceptions and needs, maintaining a perfect balance between clinical research and medical device development,” says Frost & Sullivan industry manager Amit Bohora.
Maquet Granted Awards
Maquet Inc, Bridgewater, NJ, recently received two awards recognizing the company for its contribution toward improving respiratory care. The Manufacturer of the Year Award, presented by the New Jersey State Society for Respiratory Care, recognizes Maquet’s quality, integrity, and fairness in all facets of its operations; its commitment to the educational process; and its support for the respiratory care profession. The company was also presented with The Adirondack Award by the New York State Society for Respiratory Care (NYSSRC). This award acknowledged the company’s contribution of time and effort toward the goals of NYSSRC. “Maquet is grateful to be acknowledged by the NYSSRC this year,” says Doug Smith, vice president of critical care, Maquet Inc. “We appreciate the dedicated professionals within the respiratory care community and look forward to continuing our relationship through education, customer support, and superior service.”
Nova Biomedical Receives 3-Year Point of Care/Blood Gas Contract
Nova Biomedical Corp, Waltham, Mass, has been awarded a 3-year contract to provide its advanced point of care/blood gas instruments to members of Premier Inc, Charlotte, NC, an alliance of not-for-profit hospitals and health care systems. The contract, effective Oct 1, 2005, includes all of Nova’s blood gas/point of care analyzers, including the Stat Profile Critical Care Xpress and pHOx series, related connectivity options, reagents and consumables, as well as service agreements.
John Miclot Named CEO of the Year
Respironics Inc, Murrysville, Pa, announced today that John Miclot, president and CEO of the company, was recently named CEO of the Year by the Pittsburgh Technology Council at the Tech 50 Awards. For the past 8 years, the council has recognized the region?s fastest growing and most innovative companies and their leaders. Miclot was selected based on criteria that included the performance of Respironics, the extent to which he has contributed to the company’s performance, overall leadership qualities, and the esteem in which he is held by his peers. “It’s truly an honor to be recognized by the Pittsburgh Technology Council, but I give the credit for this award to all of the people in our company. Respironics has more than 4,100 associates—I’m only one of them,” said Miclot. “All of us at Respironics have worked diligently toward exceeding our company goals, and I believe our performance from this past fiscal year proves it.”
