ResMed Founder Dr. Peter Craig Farrell Honored with 2026 Horatio Alger Award

Dr. Peter Craig Farrell to Receive 2026 Horatio Alger Award

The Horatio Alger Association of Distinguished Americans, Inc. has announced that Dr. Peter Craig Farrell, the founder of ResMed, Inc., will be honored with the distinguished Horatio Alger Award for the year 2026. This recognition celebrates individuals who have demonstrated resilience and achieved significant success despite facing adversity.

Dr. Farrell has paved a remarkable path from humble beginnings in Sydney, Australia, where he was raised in a modest household. His father worked as an accountant while also supporting the family by working as a bookmaker’s assistant during weekends. Encouraged by his mother’s dedication to education, Farrell pursued his studies diligently, earning a scholarship to Sydney University. There, he achieved an honors degree in chemical engineering. This academic journey further took him to the Massachusetts Institute of Technology (MIT) for a master’s degree and eventually led to a Ph.D. in chemical engineering and bioengineering at the University of Washington, Seattle, followed by a Doctor of Science from the University of New South Wales, where he founded the Graduate School for Biomedical Engineering.

In 1989, Dr. Farrell established ResMed, which has emerged as a leader in developing cloud-connected medical devices aimed at treating sleep apnea and other respiratory issues. His contributions extend beyond ResMed, as he currently occupies board positions at various organizations including Arcturus Therapeutics and Wave Guide, the latter being a startup that employs innovative nuclear magnetic resonance technology. His role as a trustee at the Scripps Research Institute underlines his commitment to advancing healthcare and technology.

Reflecting on his professional journey, Dr. Farrell stated, "My career in healthcare and technology has been characterized by curiosity and persistence, aimed at addressing real-world problems." He views receiving the Horatio Alger Award as a profound honor that aligns with his values of confrontational resilience and purposeful opportunity pursuit. Dr. Farrell’s mission extends to helping further the education of young individuals facing similar hurdles, emphasizing the importance of giving back to the community, a belief embodied by the Farrell Family Foundation established in 2001. His foundation focuses on community initiatives, health programs, and educational support aimed at underserved populations.

The impact of his work reverberates through various advisory boards at prestigious institutions such as Harvard, MIT, and the University of California, San Diego, coupled with significant involvement in professional and civic organizations.

As Don R. Daseke, Chairman Emeritus of Daseke, Inc., stated, "Peter Farrell exemplifies what the Horatio Alger Award stands for: a relentless pursuit of knowledge, innovation, and a commitment to enhancing the lives of those around us." His narrative underscores the extraordinary journey from limited means to spearheading a global healthcare enterprise, serving as a beacon of inspiration for countless young individuals aspiring to make a difference.

Dr. Farrell and the other honorees will be officially welcomed into the association at the 79th Horatio Alger Award Induction Ceremonies set to take place in Washington, D.C. in April 2026. This annual event coincides with the Horatio Alger National Scholars Conference, which offers over 100 students the unique chance to explore the nation’s capital while engaging with esteemed members of the Association.

The Horatio Alger Association, established in 1947, champions the belief that through hard work and determination, individuals can triumph over challenges. The organization provides support for promising students, aiming to uplift them through education, with a commitment to award $19 million in scholarships in 2026 alone. Over the past four decades, their efforts have culminated in awarding over $275 million in scholarships to more than 38,000 deserving students.

For additional information about the Horatio Alger Association and its mission, visit www.horatioalger.org and follow their updates across social media platforms.