Respironics Inc. was founded in 1976 by today’s Chairman of the Board, Gerald McGinnis. The company was incorporated in Delaware in 1984 and is based in Murrysville, Pennsylvania, USA. Respironics is the leading provider of innovative solutions for the global sleep and respiratory markets. The company designs, develops, manufactures and markets medical devices used primarily for the treatment of patients. Respironics markets its products through sleep and home respiratory, hospital, and international sales organizations. These consist of direct and independent sales representatives and sales management personnel who sell to a network of over 5,000 medical product service providers (commonly referred to as “homecare providers”) and distributors and, in some cases, directly to hospitals and other institutions. The company also rents certain products to homecare providers and, in limited cases, directly to end-users. Targeted international acquisitions, investments in the company’s international sales and marketing infrastructure, and strong distribution channels have increased Respironics’ presence in the global sleep and respiratory markets. Apart from its facility in Murrysville, Respironics has US manufacturing facilities in Kennesaw, Georgia, and Carlsbad, California. Respironics’ research and development activities are primarily carried out at its Wallingford, Connecticut facility. Outside the US, Respironics has manufacturing facilities in Shenzhen and Hong Kong, China, and Subic Bay, the Philippines. The Company also has offices and/or warehouse and distribution facilities in Hong Kong, Tokyo and Saitama City, Japan; Herrsching, Germany; Nantes and Paris, France; and Caradyne, Republic of Ireland. Almost three-quarters of Respironics’ sales are achieved in the company’s Sleep and Home Respiratory business, which focuses on home-based treatment and monitoring of sleep and respiratory patients. Respironics is a global leader in treating obstructive sleep apnea (OSA), a condition in which the airways collapse repeatedly during sleep, preventing proper respiration. Currently an under-diagnosed disorder, OSA often occurs in people suffering from chronic forms of diseases such as diabetes and hypertension, and increases the risk of heart failure and stroke. Other businesses in the Sleep and Home Respiratory group include home ventilation and oxygen products. Through its Hospital business group, Respironics offers a diverse and innovative portfolio of respiratory products designed to help treat, monitor and manage respiratory-impaired patients in hospitals and clinics. Products in this business group include non-invasive and traditional ventilation platforms for use in Emergency and Critical Care settings, as well as (respiratory) support products for use in neo-natal care units. Respironics is organized into three primary groups: the Sleep and Home Respiratory Group, the Hospital Group, and the International Group. Gerald McGinnis served as president and chief executive officer of the company for 18 years until elected to chairman in November 1994. John L. Miclot became President and CEO of Respironics, on December 1, 2003. In November 2002 he was appointed the company’s Chief Strategic Officer responsible for developing and implementing strategic business and growth initiatives, both domestically and internationally, for each of Respironics’ four divisions. In May 2003, he was elected to the Board of Directors. Daniel J. Bevevino is Vice President and Chief Financial Officer having joined Respironics in 1988. During his tenure with the company, Bevevino has served as manager of cost accounting, 1988 to 1990; controller, 1990 to 1994; chief financial officer, 1994 to current; and vice president, appointed in May 1996. Sleep and Home Respiratory Group
Home Respiratory Care: Home Respiratory Care is for patients who suffer from chronic respiratory diseases. With a broad range of oxygen, ventilation and monitoring products, Home Respiratory Care offers an array of solutions to help clinicians manage respiratory diseases in a transitional care or home environment.
Sleep Disordered Breathing: The Sleep market is the cornerstone of Respironics’ business strategy. Recognized as the global market leader and innovator in the sleep-disordered breathing marketplace, Respironics leverages its core expertise in treating Obstructive Sleep Apnea (OSA) to develop innovative solutions for the diagnosis, treatment and monitoring of other sleep disorders.
The Company’s sleep therapy products are designed to encourage patients’ acceptance of OSA therapy through increased comfort. The end result is improved sleep and, ultimately, improved quality of life.
Sleep Well Ventures: Sleep Well Ventures moves Respironics beyond its core obstructive sleep apnea (OSA) business into the broader sleep market, which encompasses the millions of people who suffer from undiagnosed and untreated sleep and sleep-related movement disorders such as insomnia, circadian rhythm disorders, or restless legs syndrome. Sleep Well Ventures also works to identify and provide solutions for millions of “problem sleepers” who may not have a specific sleep disorder like the chronic snorer or people who have difficulty falling asleep only occasionally. Through products like Actiwatch®, a device designed to monitor sleep-wake patterns over time and help assess multiple sleep disorders, Sleep Well Ventures seeks to offer sleep professionals, clinicians and their patients’ solutions that help to improve quality of life through quality sleep.
Hospital Group
Children’s Medical Ventures (ChMV): Children’s Medical Ventures focuses on improving developmental care outcomes for some of the World’s smallest and most fragile patients. Children’s Medical Ventures is the leading provider of developmentally supportive products for premature babies, and ill infants in the hospital or home offering apnea monitors and recorders, state-of-the-art diagnostic and treatment tools for jaundice, and a line of specialty products that enhance infant growth and development. The business promotes education and hands-on programs for neonatal nurses, and works with parents and caregivers to understand the unique requirements of premature and ill infants. Products and programs are developed to meet the needs of this dynamic market.
Children’s Medical Ventures has proven to be an essential growth driver for Respironics. The business helps extend the Company’s reach in hospital Neonatal Intensive Care Units (NICUs) and in the home.
Critical Care: Respironics’ Critical Care offers a unique platform for managing respiratory patients in a variety of medical environments. Through its Total Ventilation SolutionsSM program, Critical Care gives healthcare providers a diverse and innovative portfolio of invasive and noninvasive ventilators, patient masks, accessories and patient monitoring technologies to help treat, monitor and manage respiratory-impaired patients throughout their diseases.
Total Ventilation Solutions’ comprehensive offerings are designed to provide patients with the best care available while focusing on economical and efficient treatment solutions for health care providers. From pre-hospital admission to long-term acute treatment, Respironics leverages its core expertise and leadership in non-invasive ventilation to assist caregivers in avoiding intubation whenever possible, helping to reduce the patient’s risk of infection and to shorten hospitalization.
Respiratory Drug Delivery (RDD): Respironics is exploring enhanced methods of delivering drugs via the respiratory pathway to help treat chronic obstructive pulmonary disease, asthma, pulmonary arterial hypertension, cystic fibrosis and conditions beyond respiratory ailments that would benefit from direct, aerosol delivery methods. Respironics’ unique proprietary technology—Adaptive Aerosol Delivery®—is being integrated into products released in both the European and US markets and offers enormous potential for effective and reliable patient treatment.
International Group
The International Group is Respironics’ distribution channel for sleep and respiratory solutions around the world and continues to be a significant driver of the Company’s growth and success. In Fiscal Year 2007, the International Group’s revenues accounted for 33 percent of the Company’s total revenues or $389 million.
The International Group has evolved through a series of targeted acquisitions and cultivated alliances to expand Respironics’ international presence—most recently in Norway, Denmark, and Australia. Direct investments in local market infrastructure help to strengthen the Company’s position in the global sleep and respiratory marketplace.
Respironics presently has a direct presence in Germany, France, the United Kingdom, Italy, Switzerland, Japan and China.
For the fiscal year ended June 30, 2007, Respironics, which has 4,900 employees, reported sales of USD 1.2 billion, and EBITA of USD 188 million.
www. Respironics.com |