For the past 18 months, ResMed Chief Executive Mick Farrell has been publicly outspoken in urging that medical devices get priority access to semiconductors amid global chip shortages coming out of the pandemic. Now, with macro-economic headwinds slowing demand for certain consumer electronics, the bottleneck of chips available for medical devices, such as ResMed’s connected sleep apnea machines and ventilators, has begun to ease. In mid-2021, rival sleep apnea device maker Philips recalled millions of sleep apnea machines and certain ventilators, sparking strong demand for ResMed’s products. Wireless chips that send data from sleep apnea and other breathing devices to the Internet cloud as part of care management programs were particularly difficult to source. ResMed’s quarterly revenue increased 16 percent over the same quarter a year earlier — led by sales growth in the Americas.

Source: New York Times January 28, 2023 12:25 UTC