In this regard, we note that the sleep and respiratory care of ResMed includes Device, and Masks and other. He also stated that users with insurance coverage can substitute a ResMed device for their Royal Philips device, if that device is older than five years. In this period, some patients using the Philips ventilators might shift to ResMed. ResMed to Enjoy Strong Peer PositionĪccording to The Street report, Needham analyst Mike Matson noted that the repairs of these devices will likely take at least several months. Company spokesman Steve Klink said about 80% of the affected devices were CPAP machines and the other 20% of affected devices were ventilators. Per a Reuters report, Philips chief executive Frans van Houten noted that between 3 million and 4 million devices would be targeted in the recall. The company noted that to date it has produced millions of Bi-Level PAP, CPAP and mechanical ventilator devices using the PE-PUR sound abatement foam. This voluntary recall decision was to address identified potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam component in these devices.Īccording to Philips, majority of the affected devices, which are within the advised five-year service life fall under the first-generation DreamStation product family. Philips yesterday noted that its recall notification was to voluntarily withdraw specific Philips Bi-Level Positive Airway Pressure (Bi-Level PAP), Continuous Positive Airway Pressure (CPAP) and mechanical ventilator devices. Shares of Philips dropped nearly 4% following the announcement. Many of the analysts think that Philips being in a tight spot will lead to a shift in customer demand toward ResMed competitive products.
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Shares of ResMed RMD rose 6% to reach $231.70 after the company’s peer in the field of sleep apnea devices, Koninklijke Philips PHG issued recall notification for a series of its sleep and respiratory care devices. Institutional Distribution Intelligence.Non-Traditional Exchanges & New Markets.Directors’ and Officers’ Questionnaires.
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