Medical device company ResMed
(ASX:RMD) is set to acquire MEDIFOX DAN, a German provider of out-of-hospital software solutions.
The purchase price is for around US$1 billion. ResMed said MEDIFOX's solutions are critical for those out-of-hospital care providers including care documentation, personnel planning, administration and billing, similar to the solutions of ResMed's US Saas brands, Matrixcare and Brightree.
MEDIFOX DAN plans to integrate into ResMed’s out-of-hospital SaaS business segment, expanding its solutions portfolio into new healthcare sectors including outpatient therapy.
ResMed said the acquisition builds on its existing business in Germany as a provider of cloud-connected medical devices that transform care for patients with sleep apnea and other respiratory conditions.
“With the acquisition of MEDIFOX DAN, a fast-growing and innovative German healthcare software leader, we will expand ResMed’s SaaS business portfolio outside our current base in the US market and strengthen our position as the global leader in healthcare software solutions for lower-cost and lower-acuity care,” said chief executive officer Mick Farrell.
“We are excited to welcome the MEDIFOX DAN team to our global ResMed family: Our management cultures are highly aligned with a laser-focus on lowering costs, improving outcomes, and changing the course of chronic disease management.”
“Our MEDIFOX DAN and ResMed teams are united with the same global mission: to help many hundreds of millions of people live healthier lives outside the hospital, and preferably in their own home.”
Shares are trading 1.4 per cent lower at $29.34.
