ResMed to Acquire HEALTHCAREfirst
In another technology buy, ResMed expands its post-acute software offerings, this time for home health and hospice agencies.
- By David Kopf
- May 31, 2018
Sleep manufacturer ResMed will purchase HEALTHCAREfirst, a privately held company that offers software solutions and services for home health and hospice agencies.
This isn’t the first technology purchase for ResMed, which notably acquired HME billing and management software company Brightree for $800 million in 2016. Complementing Brightree's range of post-acute solutions, HEALTHCAREfirst offers electronic health record software; billing and coding services; and analytics that help home health and hospice agencies optimize their clinical, financial and administrative processes.
“The home health and hospice segments are large and growing fast, due to the rising prevalence of chronic conditions and an aging population shifting to homecare and other lower-cost care settings,” said Raj Sodhi, president of ResMed’s software as a service (SaaS) business.
“We believe our combined resources and investment capabilities will make an even more impactful improvement on the patient experience and our customers’ business outcomes at a time when they’re under increased reimbursement and regulatory pressures,” said J. Kevin Porter, HEALTHCAREfirst’s president and CEO.
Neither company disclosed the financial terms of the transaction, which ResMed stated will not be material to its consolidated financial results. ResMed reported it expects to finalize the deal before Sept. 30, which marks the first quarter of the company's 2019 fiscal year.
David Kopf is the Editor of HME Business.