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ResMed is a leading designer, manufacturer, and
distributor of medical technology for the treatment of sleep
disordered breathing (SDB). Substantial published research, has
during the past 5 years, indicated a probable link between untreated
SDB and congestive heart failure, cardiovascular disease and stroke.
These studies indicate that identification of sleep-related
breathing disorders would have a substantial impact on the long-term
health of the population. In this vein, a recent study published in
the British Medical Journal (February 2000), based on research
at the University of Toronto Medical School, reported a profound
link between hypertension and untreated SDB, after correction for
other relevant risk factors.
ResMed currently markets a comprehensive range of SDB diagnostic and
treatment devices in over 40 countries, through a combination of
fully owned subsidiaries and independent distributors. Since its
formation in 1989, as an MBO from Baxter International, ResMed has
rapidly expanded, introducing a number of highly innovative products
for the treatment of sleep disordered breathing, in general, and
obstructive sleep apnea (OSA) in particular.
For the past 5 years, ResMed has compounded at a CAGR of 50% at the
revenue line and 64% at the bottom line; net income to revenues has
averaged above 15% during this period. The company has been cash
flow positive for the past 8 consecutive years. The company went
public on NASDAQ in June of 1995 at $5.50 and, from September 1999,
has traded on the NYSE under the symbol RMD. Using the most recent
stock price, the company has a market capitalization of over $1bn;
LTM revenues and net income are $102m and $19.2m respectively.
For the past 2 years, ResMed has been ranked in Business Week's
Hundred Hot Growth Companies list and last year in Fortune's
Top 100 Fastest Growing Companies in America list. For the past
3 years, ResMed have also been on the Forbes list of the 200
Best Small Companies in America; the most recent ranking was 27.
More information on ResMed can be obtained through ResMed's website
@ www.resmed.com
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