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Business Description
Respironics, Inc. is a developer, manufacturer and marketer of medical devices used primarily for the treatment of patients suffering from respiratory disorders. The Company's products are designed to reduce costs, while improving the effectiveness of patient care and are used primarily in the home and in hospitals, along with alternative care facilities and in emergency medical settings. Its primary product lines are Homecare products, such as sleep apnea products, continuous positive airway pressure (CPAP) devices and bi-level positive airway pressure devices used in the home for the treatment of obstructive sleep apnea, a serious disorder characterized by the repeated cessation of breathing during sleep; Hospital products, such as therapeutic devices assist or control a patient's ventilation, such as bi-level, non-invasive ventilation products and critical care ventilation products, which deliver both non-invasive and invasive ventilation and cardio-respiratory monitoring products.

Financial Information
For the three months ended 9/30/04, net sales rose 22% to $199.4 million. Net income rose 36% to $15.2 million. Revenues reflect the acquisition of Caradyne and Profile Therapeutics plc. Higher income also reflects improved gross margins.