Issue link: https://read.dmtmag.com/i/56191
34 Vendors ResMed spends big on R&D Company also comments on its leadership and home sleep testing BY LIZ BEAULIEU, Editor million, an 8% increase. Also of note in the company's SAN DIEGO – ResMed in January reported $332.7 million in reve- nue for the second quarter ended Dec. 31, 2011, a 9% increase com- pared to the same quarter in 2010. It reported a net income of $62.9 earnings: ResMed reported research and development expenditures of $27.2 million for the quarter ended Dec. 31, a 24% increase compared to the same period in 2010. That raised some eyebrows in the inves- tor community. During a conference call to dis- cuss earnings, ResMed officials explained that the company is mak- ing a push in the ventilator market ("they're not cheap to produce") and in the health informatics mar- ket. They called these two markets WWW.HMENEWS.COM / MARCH 2012 / HME NEWS the company's "two main gigs" in this area. Also during the call: ABOUT THAT CEO SUCCESSION PLAN… ResMed officials explained that the search to replace Peter Farrell as CEO continues. The company is working with an outside recruiter and a consultant, but they're not "rushing along" and they don't expect to make an announcement in the near future. new Measure your success and map your future How do you measure up against other HME providers? Use this exclusive toolkit to fi nd out. 4 easy steps to success: Watch the Video of Financial Benchmark Survey presentation from the 2011 HME News Business Summit and follow along with the PowerPoint slides. Review the full results of the study that obtained that data. Complete the comparison spreadsheet that automatically calculates the difference between your company and industry averages. Grow your business! Watch the Video Review the study results Complete the comparison spreadsheet Grow your business Go to: www.hmenews.com/benchmark to order your toolkit today! MEDTRADE BOOTH 428 Access all the tools for only $149. Watch the Video Review the study results Complete the comparison spreadsheet Grow your business 2011 edition THE FUTURE IS HST ResMed officials expect the mar- ket for home sleep testing (HST) to double this year in the Americas, which means the market for auto- setting CPAP devices could also double. They say payers are "get- ting antsy" for sleep labs and others to adopt the technology, because it will save them money, to the tune of $1,000 per test. "We're trying to put that story together and drive HST as part of that," said Mick Far- rell, president of ResMed Americas. Additionally, ResMed reported $647.5 million in revenue for the six months ended Dec. 31, a 10% increase compared to the same period in 2010. It reported a net income of $113.4 million, a 2% decrease. Peter Farrell concluded the call by saying: "We continue to be excit- ed about the future prospects for us. We're in the right space." HME DIABETES CONTINUED FROM PAGE 33 president of Gen One Ventures, a consulting firm that is working with GE and Bionime: Johnson & John- son, Abbot, Roche and Bayer. He believes GE will be a force to reckon with for two reasons. First: GE, a $12.6 billion company that oper- ates in 100 countries and employs about 300,000 people worldwide, is a trusted household name for every- thing from appliances to light bulbs. "It's a huge, world-class brand," Weedfald said. Second: GE believes in Bionime's technology, which includes a strip design that eliminates the need for users to touch the sample after test- ing, Hayne said. "GE is a great brand and we have a great technology, so it's a great partnership," said Steve Millilo, a product manager at Bionime. GE selected Bionime, which is based in Taiwan and has a sales and marketing office in San Diego, after "extensive due diligence," Hayne and Millilo said. "GE and Bionime are poised to go head-to-head with the other companies in the market," Millolo said. HME TAX CONTINUED FROM PAGE 33 had several meetings with IRS offi- cials and have submitted numerous comments and other information to them. They've also made a case to exempt HME that is used in both the home and institutional settings, like beds, manual wheelchairs and wound care supplies. The IRS planned to allow 90 days for comments and it planned to hold a public hearing on May 16. "The addition of this tax would be significant," said Seth Johnson, vice president of government affairs for Pride Mobility Products. "It's another increase in the cost of doing business." HME Business Summit