Respironics

Respironics, Inc.

Type	Subsidiary
Founded	1976
Headquarters	Murrysville, Pennsylvania
Key people	Don Spence, President and CEO
Industry	Medical
Products	respiratory equipment sleep aids
Revenue	▲$1.05 billion USD
Owner(s)	Philips Electronics (Since March 2008)
Employees	4,900[1]
Website	www.respironics.com

Respironics, Inc. is a medical supply company that specializes in products that improve respiratory functions. It is based in the Pittsburgh suburb of Murrysville.

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.

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 ^[2]. Philips will acquire all shares of Respironics for $66 per share, for a total of approx $5.1 billion.

1. ^ "Company Profile for Respironics, Inc (RESP)". http://zenobank.com/index.php?symbol=RESP&page=quotesearch. Retrieved on 2008-10-02. 
2. ^ Royal Philips Electronics to Acquire Respironics for USD $66.00 Per Share

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. As a result, the company expects to increase its distribution system and to hire more employees.

External links

• Official Website