Sleep equipment maker ResMed has completed its acquisition of oxygen therapy equipment company Inova Labs Inc.
The deal, originally announced in mid January, will expand ResMed’s product lineup to include treatment options for chronic obstructive pulmonary disease (COPD), a condition that affects 12 million Americans, with likely just as many undiagnosed cases, according to the National Heart, Lung and Blood Institute.
“We are excited to complete this acquisition, which expands our offerings and solutions to address a global COPD epidemic impacting tens of millions of people,”ResMed CEO Mick Farrell said. “This acquisition is an important step to reach our goal of improving 20 million lives by 2020.”
ResMed’s current respiratory care offerings include the AirCurve 10 series of cloud-connected non-invasive ventilators, the Stellar series of non-invasive ventilators, and its Astral non-invasive life support platform.
The acquisition of Inova Labs will portable oxygen concentrators and stationary options for the home. Key products include the LifeChoice Activox, a lightweight, portable oxygen concentrators that feature extended battery life; and the Activox DUO2, a fully integrated stationary and portable oxygen concentrator system.
The transaction’s financial terms were not disclosed.