ASX shares ResMed and TechnologyOne identified for long-term investment

Certain ASX-listed companies are identified as suitable candidates for long-term, low-maintenance investment portfolios due to their market positions and growth potential.

ResMed Inc. (ASX: RMD) is highlighted for its role in the growing sleep health market. The company provides devices and masks for obstructive sleep apnoea, benefiting from both a large undiagnosed patient population and a recurring revenue model through the sale of replacement accessories. Recent fourth-quarter results showed a 9% increase in revenue, supported by demand for sleep devices and digital health investments.

TechnologyOne Ltd (ASX: TNE) is noted for its specialized software used by government organizations, universities, and councils. The company utilizes a SaaS+ model, creating high switching costs for institutions that integrate its software into their core operations, which supports long-term stability.