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A NEW FOCUS ON VENTILATORS FOR THIS MEDICAL GIANT
Today, we're highlighting a company that's been shifting its focus to aid the coronavirus response...
Global coronavirus cases have now passed 10 million... And the government has enlisted the help of some unlikely companies – like General Motors (GM) and Ford (F) – to produce necessary medical devices. Today's company has also shifted its normal production to help out...
ResMed (RMD) is a $27 billion medical-device company. It specializes in "CPAP" machines, which are designed to treat sleep apnea. But because of the pandemic, it has instead focused on manufacturing ventilators and other respiratory devices for COVID-19 patients.
And its ventilators are connected to the cloud – meaning doctors and medical providers can track the data in real time, without actually being in the room.
As you can see in today's chart, RMD is up more than 50% from its March low, and it just hit a fresh all-time high.
Source: Daily Wealth