Agreement marks CareFusion's entry into the adult and pediatric non-invasive ventilation market; establishes proven U.S. sales partner for ResMed
SAN DIEGO, July 25, 2011 /PRNewswire via COMTEX/ --
CareFusion (NYSE: CFN), a leading, global medical technology company and ResMed (NYSE: RMD), a leading developer, manufacturer and distributor of medical equipment for treating, diagnosing and managing sleep-disordered breathing and other respiratory disorders today announced a five-year agreement providing CareFusion the exclusive right to distribute the ResMed Stellar(TM) 100 and 150 non-invasive ventilators (NIV) and their related accessories into the U.S. institutional healthcare market.
The agreement, effective immediately, provides strategic benefits to both companies. CareFusion will now have a more competitive offering in the institutional NIV market, which is expected to grow by more than 6 percent annually. For ResMed, it provides a timely introduction of its new ventilation products, with their unique performance, size and mobility features valuable to clinicians, caregivers and patients, via CareFusion's long-standing relationships with U.S. hospitals, long-term acute care and skilled nursing facilities. CareFusion will also market and sell the Stellar 100 and 150 related accessories, including tubing and filters.
"The addition of ResMed's Stellar ventilator fills an important need in the respiratory care market segment for our customers," said Tony Lopez, senior vice president and general manager of Respiratory Care at CareFusion. "This strategic agreement also directly aligns with our mission to improve health care costs and quality care to patients."
"Our partnership with CareFusion creates a strong strategic fit and allows ResMed to effectively address the U.S. institutional market with an established leader in the industry," commented Geoff Neilson, ResMed's president, respiratory care strategic business unit. "The Stellar ventilator provides CareFusion with a product having differentiated features and a competitive price point. We have established a good relationship with CareFusion and look forward to it being a long-standing one."
About the Stellar 100 and 150 non-invasive ventilators
The Stellar ventilators are small, quiet, and versatile and deliver ResMed's high-quality ventilation performance for adult and pediatric patients, with both invasive and non-invasive applications. In addition, it has several monitoring features caregivers will especially appreciate, such as ResMed's leading leak-compensation algorithm, TiControl(TM) and on-screen waveforms for managing leak and patient-ventilator synchrony -- two common problems that occur when administering non-invasive ventilation in an institutional setting. It is also portable with a built-in rechargeable battery. The ResMed Stellar 100 and 150 were cleared by the Food and Drug Administration (FDA) earlier this year.
About ResMed
ResMed is a leading developer, manufacturer and distributor of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders. The company is dedicated to developing innovative products to improve the lives of those who suffer from these conditions and to increasing awareness among patients and healthcare professionals of the potentially serious health consequences of untreated sleep-disordered breathing.
Further information can be obtained by visiting the Company's multilingual Web site at www.resmed.com.
About CareFusion
CareFusion (NYSE: CFN) is a global corporation serving the health care industry with products and services that help hospitals measurably improve patient care. The company develops market-leading technologies including Alaris® infusion pumps, Pyxis® automated dispensing and patient identification systems, AirLife(TM), AVEA® and LTV® series of ventilators and respiratory products, ChloraPrep® skin prep products, MedMined(TM) services for data mining surveillance, V. Mueller® and Snowden-Pencer® surgical instruments and NeuroCare diagnostic products. CareFusion employs more than 14,000 people across its global operations. More information may be found at www.carefusion.com.
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 and CareFusion's future revenue, earnings or expenses, new product development and new markets for both companies' products, are subject to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Those risks and uncertainties are discussed in the companies' Annual Report on Form 10-K for its most recent fiscal year and in other reports the companies file with the U.S. Securities & Exchange Commission. Those reports are available on the companies' Web sites.
SOURCE CareFusion; ResMed