$RMD is a manufacturer of sleep therapy devices & accessories. Especially for the treatment of sleep apnea (breathing pauses during sleep). Untreated sleep apnea can lead to long-term secondary diseases such as high blood pressure and cardiac rhythm disorders, and thus to premature death.

But don't panic, basically almost everyone has breathing pauses during sleep, with up to 5 per hour being a "normal value". Values above that are in need of therapy, especially from ~15 pauses per hour, before that it is more likely to be weighed up depending on the complaint.

Due to the increasing obesity in the world, which usually aggravates sleep apnea, there's basically unlimited potential for increase on the side of the customer.

So why now necessarily $RMD for the portfolio? Because the company has a virtual monopoly in the industry. The biggest competitors are Löwenstein, a German GmbH & Co. KG, and Philips, for whom this is more of a side business. I'm not completely familiar with the global situation, but in Germany, for example, there are primarily contracts with Löwenstein and ResMed.

There are many other smaller manufacturers, but they play virtually no role in the network of therapy centers, health insurance companies, etc., so that ResMed can be considered a virtual monopoly on the stock market and should actually be a must-have stock for every portfolio, regardless of classic valuation criteria.