ResMed Acquires Propeller Health for $225M
Acquisition of cloud-connected healthcare company will give ResMed technology for remotely monitoring COPD and asthma patients’ medication use.
- By David Kopf
- Dec 06, 2018
Sleep therapy and respiratory equipment and technology company ResMed has acquired Propeller Health, a company that makes remote patient monitoring tools, for $225 million.
Propeller Health produces connected care products and systems that help track medication use by patients with chronic obstructive pulmonary disease (COPD) and asthma. Propeller’s platform consists of small sensors that attach to consumers’ inhalers and pair with a mobile app to track how they are using their medication.
A statement from ResMed said that Propeller’s ability to support patients with stage II and III COPD severity levels complement its suite of cloud-connected ventilators for patients with stage III and IV COPD, as well as its new portable oxygen concentrator, Mobi.
“By working with Propeller’s existing partners to offer digital solutions for respiratory care pharmaceuticals and building on our proven ability to support digital solutions at scale, we can positively impact the lives of even more of the 380 million people worldwide who are living with this debilitating chronic disease," said ResMed CEO Mick Farrell.
“Joining forces enables us to accelerate the adoption of Propeller’s solutions at a global scale, and serve as a powerful platform for a broad set of pharmaceutical and healthcare partners,” said David Van Sickle, co-founder and CEO of Propeller.
ResMed will fund the $225 million purchase of Propeller primarily with its credit facility. ResMed’s statement said it and Propeller expect to finalize the deal before March 30, 2019 (the end of the third quarter of ResMed’s fiscal year 2019).
David Kopf is the Publisher and Executive Editor of HME Business and DME Pharmacy magazines. Follow him on Twitter at @postacutenews.