8 August 2024
HEALTHTECH RANK: 1
REVENUE 2023 ($000): $1,588,600
STAFF EMPLOYED: 6,564
VERTICAL: Medical Device
OWNERSHIP: Public
FORMED: 1954
Fisher & Paykel Healthcare has one of the most successful growth stories in NZ tech, with 10% revenue growth from 2023 to 2024. Its patented hospital and homecare products are exported to over 120 countries. When asked why the company is so successful, CEO Lewis Gradon said “It’s not one reason, it’s a thousand reasons.”
One of those reasons is the company’s commitment to innovation. “Successful innovation requires trusted relationships and a deep understanding of the environment where products are used,” said Gradon.
“You have to get prototypes into hospitals early in the development process and that can be really challenging. Our clinical teams have strong relationships in hospitals, so they get access to critical care environments across neonatal, paediatric, and adult specialities.”
Strong clinician relationships are also crucial after a new product is released into the market. The company’s sales representatives work closely with healthcare professionals to introduce them to new technologies and change clinical practice.
Fisher & Paykel Healthcare recently announced regulatory clearance in the United States for two systems for respiratory humidification and the launch of two new masks for obstructive sleep apnea. In New Zealand, the company is investing in land, facilities, and research and development projects that aim to deliver innovative products to the market for decades.