A little bit about us... The Partnership is an offshoot of the family's original business, Respironics, which began operations out of a suburban kitchen in Monroeville, Pennsylvania. Many friends chipped in to provide early funding, and reaped the benefits of the Initial Public Offering in 1987. The company, established in Pittsburgh, IPO'd in 1987, and became a model corporate citizen, establishing a culture of innovation and community engagement. Philips acquired Respironics in 2007 for $5B. The company now operates as Philips Respironics.