Thursday, November 15, 2018
ResMed, a leader in cloud-connected medical devices, and commercial software solutions as a service (software-as-a-service, SaaS), announced today the completion of its $ 750 million acquisition of MatrixCare, a Minnesota-based software solutions company, serving more than 15,000 people worldwide. providers in the areas of specialized nursing care, life project communities, retirement homes, and private care.
These care settings will complement ResMed's existing SaaS offerings in the areas of home medical equipment, home care and palliative care, provided through Brightree and HEALTHCARE first, companies acquired by ResMed in April 2016. and July 2018, respectively. ResMed will create an integrated ecosystem of solutions on these platforms, to maintain unique patient records across multiple care settings, generate insights and information that can be applied to individuals and entire populations, and streamline processes along the continuum of care.
"We are all delighted to have been able to quickly conclude this important agreement and to be able to officially host MatrixCare in the ResMed family," said Mick Farrell, CEO of ResMed. "ResMed is the world's leading medical device company, focused on technology, and we are now becoming the leading provider of non-hospital software. All of this is part of our mission, which is to change the lives of millions of people, whether by treating and preventing the progress of chronic diseases, or by helping people to easily navigate between different outpatient care environments in order to that these people and their loved ones can live their lives to the full. "
MatrixCare will continue to operate autonomously within ResMed's SaaS portfolio, with targeted commercial, technical and operational links to ResMed and Brightree. No immediate changes will be made to management, sites or business processes. MatrixCare CEO John Damgaard will continue in his current role and report to Raj Sodhi, president of ResMed's SaaS solutions.
The final purchase price of $ 750 million is subject to certain adjustments as defined in the Merger Agreement.
