Murrysville, Pa., Aug. 29 /PRNewswire-FirstCall/ - On Wednesday, Aug. 30, John Miclot, the president and CEO of Respironics, Inc. , a leader in the global sleep and respiratory markets, will commence trading on The NASDAQ Stock Market, the company announced today. The opening bell ceremony at the NASDAQ MarketSite in Times Square will mark three decades of growth and innovation for the medical device maker. This is evidenced by a record 27 quarters of growth and hitting a milestone at the end of its fiscal year in June: surpassing $1 billion in revenues.
The company was founded in 1976 by Gerald E. (Jerry) McGinnis, an aspiring inventor who started on his entrepreneurial path by making surgical masks in his kitchen. By 1985, Respironics released the first continuous positive airway pressure (CPAP) device for the treatment of obstructive sleep apnea (OSA). The common disorder affects 18 to 20 million adults in the U.S., according to recent research; millions more remain undiagnosed. The company introduced its newest platform for treating apnea, the REMstar(R) M Series Sleep Systems this year.
The opening bell signals a new era for Respironics and its growing businesses. Focused on emerging market needs, the company is fueling its efforts to serve the sleep and respiratory markets through organic growth, targeted acquisitions and a rigorous research and development program. Under Mr. Miclot’s leadership, the company has broadened its focus beyond OSA and is seeking methods to assist the millions of people who suffer from several other sleep disorders such as snoring, insomnia, circadian rhythm disorders or restless legs syndrome. Respironics also has appointed a Harvard sleep professor, Dr. David White, as its chief medical officer.
The company continues to make advances in other promising areas, such as the growing adoption of noninvasive ventilation techniques in critical care environments and delivering drugs via the respiratory pathway. Respironics’ unique proprietary technology-Adaptive Aerosol Delivery(R)-is being integrated into products released in both European and US markets to help treat chronic obstructive pulmonary disease, pulmonary arterial hypertension, cystic fibrosis and conditions beyond respiratory ailments that would benefit from direct, aerosol delivery methods.
Respironics markets its products in 131 countries and has a direct presence in several European countries, Japan and China with initiatives in place for further expansion. With its expanding operations worldwide, international revenues climbed 7% over 2005 and represent 30% of total company revenues.
“We are honored to participate in the opening bell ceremony as part of our celebration of 30 years of bringing valued solutions to the sleep and respiratory markets,” said Mr. Miclot. “In doing so, we are recognizing the talented individuals who make our company what it is today: our 4,700 associates across the globe. It is through their hard work and dedication to advancing medical science and technology to improve lives that we have achieved these milestones.”
Respironics will host a press reception following the market open to discuss the state of the sleep and respiratory markets and its role as a leading provider of products and programs supporting a broad range of critical health needs. The reception will be held at 3 Times Square in the 30th Floor Conference Center, across from NASDAQ MarketSite, starting at 10:30 a.m.
About Respironics
Respironics is a leading developer, manufacturer and distributor of innovative products and programs that serve the global sleep and respiratory markets. Focusing on emerging market needs, the Company is committed to providing valued solutions to help improve outcomes for patients, clinicians and health care providers. Respironics markets its products in 131 countries and employs more than 4,700 associates worldwide. Further information can be found on the Company’s Web site: www.respironics.com .
This document contains forward-looking statements, including statements relating to, among other things, developments in the healthcare industry; the success of the Company’s marketing, sales, and promotion programs; future sales and acceptance of the Company’s products and programs; the timing and success of new product introductions; new product development; anticipated cost savings; FDA and other regulatory requirements and enforcement actions; future results from acquisitions; acquisition integration; growth rates in foreign markets; regulations and other factors affecting operations and sales outside the United States (including potential future effects of the change in sovereignty of Hong Kong); foreign currency fluctuations; customer consolidation and concentration; increasing price competition and other competitive factors in the sale of products; interest rate fluctuations; expiration of intellectual property rights; intellectual property and related litigation; other litigation; future levels of earnings and revenues; and third party reimbursement, all of which are subject to change. Actual results may differ materially from those described in any forward-looking statements. Additional information on potential factors that could affect the Company’s financial results are included in the reports filed with the SEC, including the reports on Form 10-K, 10-Q and 8-K.
Respironics, Inc.
CONTACT: Tina L. Richardson, Public Relations Sr. Account Supervisor ofBlattner Brunner, +1-412-605-2851, or +1-412-995-9550, ortrichardson@blattnerbrunner.com; or Maryellen Bizzack, Director, Marketing& Communications of Respironics, Inc., +1-724-387-5006, ormaryellen.bizzack@respironics.com
Web site: http://www.respironics.com/
