Resmed will sell its long-term care software business — MatrixCare — to a private entity firm, but will retain Brightree, its software business focused on home medical equipment.
Resmed (NYSE: RMD) said earlier this month that it had reached an agreement to sell MatrixCare to Seattle-based Frazier Healthcare Partners, a move that “narrows [Resmed’s] focus on sleep health, respiratory care and healthcare delivered in the home.”
The announcement added that the sale “also strengthens Resmed’s ability to reallocate capital and resources toward innovation, operational scale and long-term value creation across its connected, home-based care ecosystem.”
The sales is expected to be completed in the first quarter of Resmed’s fiscal year 2027. The deal is worth $490 million.
MatrixCare software is currently used by more than 15,000 skilled nursing, senior living, long-term care, home health and hospice providers. “The sale includes products previously marketed under the Healthcare First and Citus brands, along with MatrixCare’s home health and hospice software,” the announcement said.
ResMed will keep Brightree, with Resmed Chairman/CEO Mick Farrell saying in the announcement that the company is taking a “disciplined approach to portfolio management” and choosing to focus resources on its sleep and respiratory businesses. Resmed is also retaining MEDIFOX DAN, a healthcare business software company brand based in Germany.
“By focusing on areas where we see the greatest opportunity for sleep health innovation and impact, we are strengthening our ability to deliver life-changing health technologies, improve patient outcomes and create value for our stakeholders,” Farrell added. “We are confident MatrixCare and its affiliated businesses will continue to support team members and drive growth under new ownership with a dedicated focus on the long-term care market.”
“Frazier has spent several years evaluating the post-acute care technology sector and believes MatrixCare has established itself as a leading platform serving skilled nursing, senior living and home health and hospice providers,” said Frazier General Partner Ryan Lucero in the announcement. “We are thrilled to partner with the MatrixCare team and plan to invest aggressively in product innovation to help providers deliver better outcomes as the post-acute care landscape continues to evolve.”
