Fisher & Paykel Healthcare, the Company - which designs, manufactures and markets medical device products and systems for use in respiratory care, acute care and the treatment of obstructive sleep apnea has seen operating revenue rise 10 per cent to a record half a billion dollars in the past year.

Continuing to focus on its objective of doubling the business every five years, the company looks forward to continue to attain strong revenue growth with expectations of operating revenue of $560m and after tax profit of $70m for the 2011 financial year. The figures to March this year were $503m and $71.6m respectively.

CEO Michael Daniell pointed to many positives including the continuing growth of its big selling obstructive sleep apnea (OSA) product group range which in the year to March saw a 17 per cent rises in operating revenue to $237 million. Respiratory and acute care products rakes in $242.4m, up 6 percent.

"The geographical split of our total operating revenue was North America at 46 percent of the total, Europe at 32 percent and Asia Pacific and other at 22 percent,” Daniell says.

The new ICON flow generator platform, released in New Zealand and Australia, so far, is said to have received positive feedbacks from dealers and users, and will soon be pioneered into Europe – possibly around September - with entry into North America to follow.

"Also, early in the second half we ceased sales of the (infant) warmer range in North America to allow our hospital clinical sales team to focus on our respiratory growth opportunities," says Daniell.

"Warmers accounted for US$3.4m of revenue in North America in the prior year and US$2.6m in FY10”.