Industry Medical Owner Philips Number of employees 4,900 | Revenue $1.05 billion USD Founded 1976 Type of business Subsidiary | |
Key people Don Spence, President and CEO Products respiratory equipment
sleep aids Website www.healthcare.philips.com/main/homehealth/respironics.wpd Headquarters Murrysville, Pennsylvania, United States Profiles | ||
Introduction to philips respironics system one heated tube
Respironics, Inc. is a medical supply company that specializes in products that improve respiratory functions. It is based in the Pittsburgh suburb of Murrysville.
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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 endotracheal 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
The firm's products 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 21, 2007, Respironics announced it entered into a merger agreement with Philips. Philips will acquire all shares of Respironics for $66 per share, for a total of approx $5.1 billion.
On March 14, 2008, Philips announced completion of tender offer to acquire Respironics.