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ResMed OKs Stock Split

Poway-based ResMed, Inc., which makes medical equipment to treat sleep disorders, announced Aug. 10 that its board of directors approved a 2-for-1 split of its common stock.

Shareholders will receive an additional share of common stock for every share held on Sept. 15, 2005.

The stock is payable in the form of a 100 percent stock dividend.

ResMed Chief Operating Officer Peter Farrell said the share price has appreciated more than 90 percent since the last stock split in March 2000.

Earlier this month, Deloitte & Touche listed the company in the top 50 fastest-growing technology firms in San Diego County.

In preparation for a new national headquarters, ResMed last month acquired the last remaining parcel of land — nearly 10 acres — in San Diego Spectrum, a business community in Kearny Mesa, for $21 million.

Construction is scheduled to begin in 2006. The company is expected to release its fourth quarter and fiscal year-end earnings later this month.

— Katie Weeks

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