RESMED INC (RMD)

ResMed Inc. is a global provider of digital health and cloud-connected medical devices focused on sleep and breathing health. It was formed in 1989 and commercialized a continuous positive airway pressure (CPAP) treatment for obstructive sleep apnea (OSA), the first successful non-invasive treatment for the condition. Its AI-powered digital health solutions, connected devices and software are designed to make home healthcare more personalized, accessible and effective, improve quality of life and reduce the cost of chronic disease for consumers and healthcare systems.

The company operates two segments. The Sleep and Breathing Health segment supplies CPAP and bilevel devices, high flow therapy systems, non-invasive and invasive ventilators, humidifiers, diagnostic products such as ApneaLink Air and NightOwl, mask systems, headgear, tubing and other accessories, dental devices, and cloud-based data management and patient engagement tools such as the myAir app. These products address OSA, central sleep apnea, COPD, overlap syndrome, obesity hypoventilation syndrome and neuromuscular disease such as ALS. The Residential Care Software segment provides cloud-based billing, electronic medical records, revenue cycle management, analytics, patient engagement and workforce management software. Brightree serves home medical equipment providers in the U.S., MEDIFOX DAN serves residential care providers in Germany, and MatrixCare serves senior living, skilled nursing, home health and hospice providers in the U.S. In 2025 it acquired VirtuOx, a software-enabled independent diagnostic testing facility for in-home and remote sleep, respiratory and cardiac testing. In June 2026 it acquired Noctrix Health, which has an FDA De Novo classified device for restless legs syndrome. On June 30, 2026, it agreed to sell the MatrixCare business for $490 million in cash, expected to close in the first quarter of fiscal 2027.

Its products are used predominantly in the home and, to a lesser extent, in general and respiratory hospital wards. Customers and channels include patients, sleep specialists, pulmonologists, primary care physicians, home medical equipment providers, hospitals, and residential care providers such as skilled nursing facilities, hospice and home health agencies, and senior living communities. The company sells in more than 140 countries through wholly owned subsidiaries and independent distributors. It says sleep apnea remains widely undiagnosed, with fewer than 20% of people with OSA diagnosed or treated in the U.S. and 10% or less in other markets. Its growth strategy centers on differentiating its core sleep apnea portfolio with AI and machine learning, raising awareness through education and partnerships such as the one with Oura, and expanding into adjacent conditions such as insomnia, COPD and restless legs syndrome.

ResMed employs approximately 11,370 people. Its Australian subsidiary, ResMed Holdings Pty Limited, was organized in 1989 to acquire CPAP technology and a CPAP device business from Baxter. ResMed Inc., a Delaware corporation formed in 1994, is the ultimate holding company. It went public in 1995 and is listed on the NYSE and, through CDIs, the ASX, both under the symbol RMD. The company has grown organically and through acquisitions of distributors, suppliers, equipment and technology developers, a diagnostic testing facility and software providers.