Conf call
GLP-1 drugs have had no impact on sleep sales
Resmed also says no impact
Over 20 million Americans with sleep apnea have not been diagnosed yet
3% increase to reimbursement rates beginning Jan 01/24
< 5% of prescriptions from e-prescribing, room for efficiencies
Avg resupply patient spends $600/yr and increasing
Run rate on resupply orders $100 million/yr (169,000 patients)
Avg. resupply patient duration is 4 to 5 yrs.
Resupply biz ~ 40-50% of respiratory revenues
Resupply gross margins ~42%
Resupply is low touch biz, orders by email or app
Resupply ebitda > rental biz
Q4 organic growth 3.5%, above 8-10% annual target
At 90 sales people real time, up from 72 last Conf call
Sales people need 2 to 3 qtrs to ramp up
negotiations ongoing for additional insurance contracts