Medical devices company ResMed has agreed to acquire long-term post-acute care software provider MatrixCare for a total consideration of $750m.
ResMed expects the deal to strengthen its existing software-as-a-service (SaaS) offerings, provided via Brightree and HEALTHCAREfirst, across home medical equipment, home health and hospice areas.
MatrixCare post-acute care software is an electronic health record (EHR) solution designed to support multiple long-term care settings. The service is intended to boost patient management efficiencies and clinical care.
“Subject to customary closing conditions and regulatory approvals, the acquisition is expected to be completed in the second quarter of ResMed’s fiscal year 2019.”
The company’s portfolio also includes additional health offerings such as point of care, lead and referral management, claims processing, payroll and nutrition management.
ResMed CEO Mick Farrell said: “The acquisition of MatrixCare is an excellent addition to the out-of-hospital software portfolio that we can offer our healthcare provider customers.
“With our portfolio including Brightree, HEALTHCAREfirst, and MatrixCare, we will streamline transitions of care, creating better outcomes for patients, caregivers, and out-of-hospital healthcare providers.”
Subject to customary closing conditions and regulatory approvals, the acquisition is expected to be completed in the second quarter of ResMed’s fiscal year 2019.
After the deal closing, MatrixCare will continue to operate as a standalone entity within ResMed’s SaaS portfolio. The company will have targeted commercial, technical and operating links to ResMed and Brightree.
ResMed is not planning any immediate changes to management, locations or business processes. MatrixCare CEO John Damgaard will continue in his current position.
ResMed offers medical devices and software solutions, including masks and accessories, for respiratory conditions such as sleep apnoea and chronic obstructive pulmonary disease (COPD). Its latest launch is the AirFit F30 CPAP mask.