Well-known manufacturer of sleep therapy and respiratory equipment ResMed has entered into a definitive agreement to acquire oxygen device maker Inova Labs Inc.
The purchase will expand ResMed’s product portfolio 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. Globally, COPD affects as many as 65 million people, according to the World Health Organization.
“COPD is the third leading cause of death in the United States and, sadly, the disease is on its way to achieving the same ranking globally,” said Mick Farrell, CEO of ResMed. “We are excited to expand our offerings and solutions for the global COPD epidemic and to progress even more swiftly toward our ResMed goal of improving 20 million lives by 2020. With the acquisition of Inova Labs, ResMed is delivering on its commitment to find further ways to improve the quality of life for tens of millions of people as they deal with COPD, this chronic, progressive disease that literally takes patients’ breath away when untreated.”
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 the lightweight, non-invasive Astral life support platform.
The acquisition of Inova Labs adds the portable oxygen solution LifeChoice Activox and the combined stationary and portable platform Activox DUO2 to ResMed’s respiratory care portfolio.
The Activox DUO2 recently won HME Business’s 2015 New Product of the Year award for Respiratory – In-Home Equipment for it’s combined, stationary/portable approach. The stationary base provides up to 5 liters of continuous flow oxygen while the portable component provides up to 4 liters per minute equivalent PULSE-WAVE delivery (depending on which LifeChoice Activox portable oxygen concentrator model patients and health professionals choose).
“ResMed is the global leader in connected healthcare solutions for sleep and respiratory conditions,” Inova Labs CEO John Rush said. “That’s a perfect fit with our mission to offer oxygen therapy solutions that empower individuals to stay active and sleep well.”
The financial terms of the transaction were not disclosed. This transaction is subject to customary closing conditions, including regulatory approvals.