The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price will be one to watch on Monday following the release of announcement this morning.
What did Fisher & Paykel Healthcare announce?
This morning Fisher & Paykel Healthcare announced the launch of a new nasal mask for the treatment of obstructive sleep apnoea (OSA).
The company's new F&P Evora product is a compact nasal mask that sits comfortably under the nose.
According to the release, the mask features CapFit headgear, which is designed to be put on like a baseball cap in one simple and intuitive movement.
In a clinical trial, 98% of participants described the F&P Evora product as "simple to take off and put on in the dark" and 95% of respiratory therapists rated the mask as "simple to fit."
The product also features a floating seal, which sits inside stability wings. The company notes that these technologies work together to allow for freedom of movement during sleep, while ensuring that the mask remains comfortably in place.
The company's managing director and CEO, Lewis Gradon, appears very positive on the product.
He said: "Evora offers OSA patients the performance benefits of a nasal mask, with the streamlined design and minimalism of a nasal pillow mask. Its unique and innovative features make fitting the mask much easier for the patient and the respiratory therapist. We're excited to bring it to market."
The F&P Evora product will initially be available in the Australia and New Zealand market from February, followed by Canada and Europe soon after. After which, it will be launched in other countries upon receiving the required clearances.
No update to its guidance has made at this stage. In November the ResMed Inc. (ASX: RMD) rival advised that it expects full year operating revenue to be approximately NZ$1.19 billion and net profit after tax to be in the range of approximately NZ$255 million to NZ$265 million.
The latter will be an increase of 22% to 26.7% on FY 2019's net profit after tax of NZ$209.2 million.
