Medtech and sleep disorder treatment leader, Resmed Inc (NYSE: RME) (FRA: RME), is celebrating the debut of a new sleep research hub at a prestigious event in Singapore.
The CPAP machine producer formally launched its Sleep Institute at the World Sleep Congress on Sept. 8. It will be based in ResMed’s home city of San Diego, California.
For the formal unveiling of the new sleep studies initiative, the company hosted a lunch symposium on Monday afternoon titled Obstructive Sleep Apnea Underdiagnosis: A World of Difference, a Common Challenge. It featured leading experts from Singapore, the United States, Iceland and Sweden.
They included European Sleep Research Society President Erna Síf Arnardóttir and Ludger Grote, medical director at Sahlgrenska University Hospital’s Sleep Disorders Center.
The World Sleep Society organizes the World Sleep Congress, a biennial event dedicated to circadian health and medicine. It brings together leading sleep scientists, educators, health professionals and industry leaders from over 70 nations.
This year’s event is the 18th to date, being held in Singapore for the first time. As part of the conference, ResMed also participated in the Asian Society of Sleep Medicine’s annual scientific meeting.
The World Sleep Congress was held in Rio de Janeiro in 2023 and Rome before that. The inaugural convention took place in Jerusalem in 1989.
“Sleep Institute publishes original research, expert perspectives and real-world data to support earlier and more accurate diagnosis and guide more informed clinical, policy, and system-level strategies,” ResMed explained in a vague news release on Sept. 3. The sleep tech major claims it will provide an unmatched lens into sleep health throughout various populations, geographic locations and healthcare settings.
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Analysts have positive outlook about ResMed’s financial situation
In an article posted on Sept. 6, Simply Wall St researchers said ResMed’s debt to cash ratio was favourable. At the end of Q2, the public medtech operator had US$668.3 million in debt and US$1.2 billion in cash.
“We’re pretty confident it can manage its debt safely,” they stated. “Another good sign is that ResMed has been able to increase its earnings before interest and taxes [EBIT] by 22 per cent in twelve months, making it easier to pay down debt.”
Simply Wall St commentary is looked upon favourably by many market observers but also heavily relies automation and AI-driven analysis. This can often lead to the oversimplification of complex financial data. Nonetheless, it has 4.3/5 stars on TrustPilot, based on over 4,600 reviews.
ResMed operates in over 140 countries with manufacturing facilities set up in Singapore, the U.S. France and Australia. It employs nearly 10,000 people throughout the globe.
Aside from sleep tech, its other focus is residential care software. During the pandemic, ResMed distributed thousands of ventilator machines throughout the globe.
Its market capitalization is sitting at approximately US$41.9 billion.
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