Respironics
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| Respironics, Inc. | |
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| Type | Public (NASDAQ: RESP) |
| Founded | 1976 |
| Headquarters | Murrysville, Pennsylvania |
| Key people | John L. Miclot, President and CEO |
| Industry | Medical |
| Products | respiratory equipment sleep aids |
| Revenue | ▲$1.05 billion USD |
| Employees | 4,700 |
| Website | www.respironics.com |
Repironics, Inc. (NASDAQ: RESP) is a medical supply company that specializes in products that improve respiratory functions. It is based in the Pittsburgh suburb of Murrysville.
[edit] History
In 1976, company founder, Gerald McGinnis opened the company's first manufacturing facility for anesthesia masks near Pittsburgh, Pennsylvania. Previous product research and manufacturing had occurred in the founder's kitchen. Other early products included endotrachial and tracheostomy products.
The company introduced the first continuous positive airway pressure (CPAP) machine for the treatment of sleep apnea in 1985. Three years later in 1988 the company went public under the stock ticker symbol RESP. In 1992, Respironics received a patent for bi-level technology. This technology was originally intended as an improvement on CPAP, however, its use has expanded into the treatment of other breathing disorders such as chronic obstructive pulmonary disease (COPD).
Other significant milestones were the acquisition of the ventilator company, LIFECARE International in 1996, sleep apnea competitor, Healthdyne Technologies in 1998 and medical monitor and sensor leader, Novametrix in 2002.
[edit] Today
Respironics bills itself as "the leading worldwide resource in the medical device industry". Its product mix includes devices for the diagnosis and treatment of sleep apnea including CPAP and bi-level (BiPAP) machines, oxygen concentrators for patients requiring supplemental oxygen, infant apnea monitors for infants at risk of SIDS, asthma treatment solutions and hospital ventilators.
On December 21st, 2007, Respironics announced it entered into a merger agreement with Royal Philips Electronics [1]. Philips will acquire all shares of Respironics for $66 per share, for a total of approx $5.1 billion.
[edit] Economic Outlook
Respironics derives most of its sales from the US but has operations world wide. Its profits have been steadily increasing, and its revenue recently surpassed the $1 billion mark for the first time this year. As a result, the company expects to increase its distribution system and to hire more employees.
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