Sleep device company ResMed shares are falling with profits

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ResMed posted a 3% fall in net income to $US88.458 million ($A115 million) for the third quarter as the medical equipment maker expands.

A short time ago, its shares were down 4.6% to $7.51.

Revenue increased 7% to $US453.9 million ($A594 million) in the three month to March.

“We continue to build on our offerings across our strategy for both products and informatics solutions,” says CEO Mick Farrell.

The sleep treatment specialist has expanded into respiratory care including portable oxygen concentrators.

With the acquisition of Brightree in April, it is positioning itself as the leader for cloud-based solutions in home health.

“This expansion into new products and informatics solutions allows ResMed to continue its global leadership as a tech-driven medical device company,” Farrell says.

“We are liberating healthcare data and unlocking value by providing actionable connected care solutions for patients, physicians, providers, and payers.”

Revenue in the Americas was up 12% to $US282.2 million ($A369 million).

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