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Pendal Group flagged that ResMed is increasingly moving some manufacturing to America, and that the upcoming round of competitive bidding for durable medical equipment needs to be watched, alongside risk around a Section 232 trade investigation, though the fund noted the company is typically not significantly impacted by tariffs due to the Nairobi Protocol covering medical devices

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It was the confidence that their money wasnt being wasted, that a real medical team was behind the scenes, and that success wouldnt disappear after the first shipment

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