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ResMed Inc.
ResMed makes cloud-connected medical devices and software that treat sleep apnea and other respiratory conditions, selling them to patients, home care providers, and hospitals.
ResMed makes the machines and masks that help people with sleep apnea breathe properly at night. Sleep apnea is a condition where a person's breathing repeatedly stops and starts during sleep, and the most common fix is a CPAP machine — a quiet air pump that keeps the airway open through a mask worn while sleeping. ResMed sells these devices, the masks that go with them, and the software that connects everything to the cloud so doctors and home care providers can track how well a patient is doing.
The money comes from selling the hardware and, more and more, from the recurring sales of masks, cushions, and other supplies that patients replace regularly. That replacement business is the steady heartbeat of the company: a machine might last years, but masks and parts get swapped out constantly, so ResMed keeps earning long after the first sale. Its customers are mostly home medical equipment providers and sleep clinics, plus a growing direct-to-consumer business, and it also sells ventilators and other gear for respiratory care in hospitals and homes. ResMed is based in San Diego, and it is one of the two giants of the sleep apnea world, going head to head with Philips — a rivalry that tilted in ResMed's favor when Philips recalled millions of its breathing machines starting in 2021, pushing patients and providers toward ResMed. The company has poured money into software that lets care teams monitor patients remotely, which makes its devices stickier: once a clinic's workflow runs on ResMed's cloud, switching is a hassle. Its main vulnerability is competition and pressure on prices from insurers and health systems, plus the constant need to keep patients actually using their machines, since an unused device means no repeat supply sales.
ResMed throws off a lot of cash and uses it in a shareholder-friendly way — paying a dividend and buying back stock — while still funding new product development. It is a quiet, profitable business built on a simple truth: people with sleep apnea need to breathe well every single night, and they need fresh masks to do it.
Saved answer · last researched 12 Nov 2026