ResMed's third quarter results have come in mixed as the medical equipment maker spends more on research and new products.
Chief executive Mick Farrell said the sleep disorder equipment developer was "unlocking value" by expanding into new products and tech-driven mobile medical devices.
"We are liberating healthcare data and unlocking value by providing actionable connected care solutions for patients, physicians, providers, and payers," he said in a statement.
ResMed's net income fell three per cent to $US88.5 million ($A114.28 million) in the three months to March 31, from $US90.9 million for the same period a year earlier, as research and development expenses rose four per cent.
Excluding exchange rate fluctuations, R&D expenses were up 11 per cent.
Third quarter revenue was up seven per cent to $US453.9 million.
ResMed acquired Inova Labs, a privately held medical device company specialising in the development and commercialisation of innovative oxygen therapy products, for an undisclosed sum in January.
A month later, ResMed said it was buying privately held Brightree, a business management and clinical software applications for the post-acute care industry, for $US800 million.
ResMed's regional segments reported mixed revenue. The Americas achieved 12 per cent growth while the combined Europe, Middle East and Africa and the Asia Pacific region was flat.
Its shares dropped 29 cents, or 3.7 per cent, to $7.59.
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