Why do we own ResMed?

ResMed is a global leader in medical technology, developing and manufacturing devices and digital health solutions that help people with sleep disorders and chronic breathing conditions. Its products — such as CPAP machines (continuous positive airway pressure devices that help people breathe more easily while sleeping), masks, and cloud-connected software — are used by millions of patients worldwide to improve sleep quality, overall health, and quality of life.

Through its growing digital health platforms, ResMed also supports home health and aged care providers, helping to deliver more efficient and personalised care.

After several years of supply challenges and industry disruption during the pandemic, ResMed has emerged stronger, with improved production capacity and an expanded global reach. The company has also benefited from the extended absence of its main competitor, Philips, which remains restricted from selling sleep therapy devices in the key US market. Demand for ResMed’s products continues to grow, supported by increasing awareness of sleep health, rising rates of sleep apnea worldwide, and an aging population. ResMed’s strong focus on research and innovation keeps it at the forefront of both medical devices and digital healthcare solutions.

ResMed’s scale, strong balance sheet, and long track record of innovation provide a solid foundation for future growth. While there is some uncertainty about the impact of GLP-1 drugs (a class of medications used for weight loss and diabetes) on the number of patients needing sleep apnea treatment, these medicines may also encourage more people to be diagnosed and seek care. With its focus on improving lives through better sleep and respiratory health, ResMed is well-positioned to deliver consistent growth and long-term value for investors.

NYSE and ASX-listed ResMed Inc. is a direct holding in Evidentia Quality Core, which is held in the Partners Medium Term, Long Term, and Multi-Asset Income Portfolios.