ResMed’s strong growth during Covid-19

Sleep apnea device manufacturer ResMed has reported an operating profit up 31 per cent in the third quarter as it pivots towards products used to fight Covid-19.

The company reported revenues up 16 per cent on the previous corresponding quarter to $ 1.19 billion (US$769.5 million).

The company, which makes sleep apnea machines and hospital ventilators in Sydney and internationally increased output of ventilators with the onset of the pandemic.

It recently delivered 3,000 ventilators to the federal government, as part of an order for 5,500.

CEO Mick Farrell said: “We are operating in unprecedented times.

“We have rapidly pivoted our business to respond by ramping up production of life support ventilators, non-invasive ventilators and ventilation mask systems for the people who need them most.”

Increased ventilator sales helped boost revenues by 12 per cent in the Americas and 27 per cent elsewhere.

Software as a service revenues increased by 12 per cent.

Picture: ResMed ventilator

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