Dr. Peter Craig Farrell, Founder of ResMed, Inc., to Receive Prestigious 2026 Horatio Alger Award

Horatio Alger Association names 11 honorees to 2026 membership class, recognizing resilience, determination, and achievement

WASHINGTON, Jan. 27, 2026 /PRNewswire/ -- The Horatio Alger Association of Distinguished Americans, Inc., a nonprofit that honors leaders who have overcome adversity and supports young people in furthering their education, today announced that Dr. Peter Craig Farrell, Founder of ResMed, Inc., will receive the prestigious Horatio Alger Award and become a lifetime member of the organization. Farrell joins 10 other exceptional corporate, civic, and cultural leaders from across the country in the 2026 class of honorees. For the last 79 years, the Horatio Alger Award has recognized esteemed individuals who have achieved remarkable success despite significant challenges, and who demonstrate a strong commitment to higher education and philanthropy.

Farrell grew up in a family of relatively modest means in Sydney, Australia. His father worked as an accountant during the week and supplemented the family income on weekends as a bookmaker's assistant at greyhound and horse races. Encouraged by his mother to continue his education, Farrell earned a scholarship to Sydney University, where he graduated with an honors degree in chemical engineering. He received a scholarship to MIT and achieved his master's in chemical engineering. He later earned a Ph.D. in chemical engineering and bioengineering from the University of Washington, Seattle. He then earned his Doctor of Science degree from the University of New South Wales, where he set up and ran the newly created Graduate School for Biomedical Engineering.

In 1989, Farrell founded ResMed, Inc., which has become a global leader in cloud-connected medical devices for the treatment of sleep apnea and other respiratory conditions. He also serves on several boards, including Arcturus Therapeutics and Wave Guide, where he is chairman. Wave Guide is a diagnostic startup leveraging nuclear magnetic resonance technology developed at Harvard's School of Physics. Farrell serves as a trustee of Scripps Research Institute at the Jacobs Engineering School at the University of California, San Diego.

"My career in healthcare and technology has been a journey defined by curiosity, persistence, and a drive to solve real problems," said Dr. Peter Craig Farrell. "Receiving the Horatio Alger Award is a tremendous honor because it recognizes the same values that guide my work: facing challenges head-on, pursuing opportunities with purpose, and using knowledge and experience to help others. It is a privilege to join the Horatio Alger Association and the important mission of helping young people overcome life's challenges to pursue their dreams."

Farrell believes that giving back to the community is both a responsibility and investment in society. In 2001, he established the Farrell Family Foundation, which supports community initiatives, youth programs, health-related causes, and education, with a focus on technology and underserved populations. He serves on numerous advisory boards, including at Harvard, MIT, and the University of California, San Diego, and holds leadership roles in professional and civic organizations, reflecting his enduring commitment to advancing education, science, and community well-being.

"Peter Farrell exemplifies what the Horatio Alger Award stands for: a relentless pursuit of knowledge and innovation, and a commitment to improving the lives of those around us," said Don R. Daseke, Founder & Chairman Emeritus of Daseke, Inc., a 2018 Horatio Alger Award recipient who nominated Farrell for the Award. "Peter's journey from humble beginnings to building a global healthcare enterprise inspires young people striving to change their circumstances and make an impact on the world. It is a privilege to recognize his achievements and welcome him to the Horatio Alger family, where I know his story will motivate the next generation of leaders for years to come."

Farrell and the member class of 2026 will be formally inducted into the Association during the 79th Horatio Alger Award Induction Ceremonies in Washington, D.C., in April. The annual ceremonies coincide with the Horatio Alger National Scholars Conference, which gives more than 100 students the unique opportunity to explore the nation's capital and to meet and learn from Association Members.

For more information about the Horatio Alger Association and its 2026 membership class, please visit www.horatioalger.org and follow the organization on LinkedIn, Instagram, and Facebook.

About the Horatio Alger Association of Distinguished Americans:
Founded in 1947, the Horatio Alger Association of Distinguished Americans, Inc. upholds the belief that hard work, honesty, and determination enable individuals to overcome adversity and achieve success. The Association honors exceptional leaders who exemplify this spirit by presenting them with the Horatio Alger Award and inducting them as lifetime members. Through the support of its members and friends, the Association helps promising students to pursue their dreams through higher education. In 2026, the Association has budgeted to award $19 million in need-based scholarships to up to 1,800 students across the United States and Canada, along with academic, personal, and professional support services. Over the past 41 years, the Association has awarded more than $275 million in scholarships to more than 38,000 deserving students. For more information, visit www.horatioalger.org.

SOURCE Horatio Alger Association of Distinguished Americans, Inc.