ResMed Unveils 2030 Strategy to Drive Growth, Profitability, and Shareholder Returns
GlobeNewswire Inc.
September 30, 2024 8:05PM GMT
NEW YORK and SAN DIEGO, Sept. 30, 2024 (GLOBE NEWSWIRE) -- ResMed (NYSE: RMD, ASX: RMD) today unveiled its 2030 Strategy to drive growth, profitability, and shareholder returns at an Investor Day in New York City. ResMed also announced its five-year revenue and earnings growth outlook, reflecting ResMed’s plans to accelerate product and technology innovation, operational excellence, commercial execution, and financial strength. Driven by the new strategy, ResMed expects to help more than 500 million people worldwide achieve their full health potential in 2030.
“At ResMed, we are celebrating 35 years of growth and innovation with continued evolution, cutting-edge new products, and an unwavering commitment to consumers, providers, and shareholders,” said Mick Farrell, Chairman & CEO of ResMed. “Today, more than 2.3 billion people suffer from major sleep health and breathing issues, the vast majority of which are undiagnosed. By building on our leadership in connected digital health, our 2030 Strategy will further enable us to transform sleep health, breathing health, and health tech at home through world-class products and digital solutions.”
Farrell continued, “We remain focused on delivering a more integrated and intelligent ResMed ecosystem, transforming the consumer and provider experience to offer better care, simplify the health journey, and improve access to our therapies. As we grow our core sleep apnea market, we will also leverage our strong financial position and expertise in broader sleep health to expand into adjacent markets and accelerate the release of new products at an unprecedented velocity.”
New Five-Year Financial Outlook
ResMed’s new five-year financial outlook includes:
“Since our last Investor Day in 2021, we have delivered on our commitments, and this new outlook reinforces that ResMed is well positioned to maintain its track record of strong financial performance,” said Brett Sandercock, Chief Financial Officer of ResMed. “Our financial strength and low capital requirements create robust cash generation, and our capital allocation strategy will continue to prioritize innovation – through reinvestment in our core business, a disciplined and strategic approach to M&A, and a balanced capital return policy. We are confident this approach will deliver significant value to shareholders as we execute our 2030 Strategy.”
2030 Strategy
ResMed will achieve its new financial goals through the execution of its clear and focused 2030 Strategy across three pillars to drive growth:
Implemented in 2023, ResMed’s 2030 Operating Model reorganized the company to ensure it remains product-led, customer-centric, and brand-enhanced. The 2030 Operating Model further accelerates ResMed’s ability to reach consumers where they are, achieve the five-year financial outlook, and unlock value.
2024 Investor Day Webcast and Presentation
The Investor Day webcast replay and presentation slides can be accessed on ResMed’s Investor Relations website at investor.resmed.com.
About ResMed
At ResMed (NYSE: RMD, ASX: RMD), we pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. Our comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, we improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems in more than 140 countries. To learn more, visit ResMed.com and follow @ResMed.
Safe Harbor Statement
Statements contained in this release that are not historical facts are “forward-looking” statements as contemplated by the Private Securities Litigation Reform Act of 1995. These forward-looking statements – including statements regarding ResMed’s projections of future revenue or earnings, expenses, new product development, new product launches, new markets for its products, the integration of acquisitions, our supply chain, domestic and international regulatory developments, litigation, tax outlook, and the expected impact of macroeconomic conditions of our business – are subject to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Additional risks and uncertainties are discussed in ResMed’s periodic reports on file with the U.S. Securities & Exchange Commission. ResMed does not undertake to update its forward-looking statements.
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