After increasing production and delivery of its cloud-connected flow generator devices during Q3 2023, ResMed can now support global demand for CPAP and APAP devices, according to the company’s third-quarter results.
“During the third quarter, we significantly ramped up production and delivery of our cloud-connected flow generator devices to meet ongoing high demand from customers, resulting in strong device sales growth across our global markets,” says Mick Farrell, ResMed’s CEO, in a release. “We now have full global availability of our connected AirSense 10 platform while we continue to ramp production and availability across more geographies of our AirSense 11 platform. The bottom line is this: We can now support global customer demand for CPAP and APAP devices to serve the entire sleep device market. This is great news for physicians, providers, and especially for patients.”
Farrell notes that the company also saw strong growth in its mask and patient interfaces businesses globally, “demonstrating a sustainable focus on patient adherence and resupply.” The company’s outside-hospital software-as-a-service business achieved high-single-digit growth organically and reached double-digit growth with a full quarter of contribution from its MEDIFOX DAN acquisition that closed last November.
“We remain laser-focused on delivering lifesaving therapy solutions and accelerating the adoption of digital health in sleep apnea, COPD, insomnia, and out-of-hospital care,” continues Farrell in the release. “During the last 12 months, we improved over 156 million lives, and we are well on our way to our goal of helping 250 million people sleep better, breathe better, and live higher-quality lives with outside-hospital care in 2025.”
ResMed’s revenue grew by 31% on a constant currency basis, driven by increased demand for its sleep and respiratory care devices as well as reduced competitive supply.