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Establishes ResMed as a leader in out-of-hospital
software-as-a-service offerings
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Expands ResMed’s SaaS offerings into additional care settings,
including skilled nursing and senior living
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Purchase price $750 million, accretive to non-GAAP gross margin and
non-GAAP diluted earnings per share
SAN DIEGO--(BUSINESS WIRE)--
ResMed (NYSE: RMD) (ASX: RMD), a leader in cloud-connected medical
devices and out-of-hospital software-as-a-service (SaaS) business
solutions, today announced it has completed its $750 million acquisition
of Minnesota-based MatrixCare, a leader in software solutions for more
than 15,000 providers across skilled nursing, life plan communities,
senior living and private duty.
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These care settings are complementary to ResMed’s other SaaS offerings
in home medical equipment, home health and hospice, delivered through
Brightree and HEALTHCAREfirst, acquired by ResMed in April 2016
and July 2018, respectively. ResMed will drive an integrated ecosystem
of solutions across these platforms to maintain single-patient records
across multiple care settings, generate analytics and insights that can
be applied to individuals and whole populations, and streamline
processes across the care continuum.
“We’re all excited to have quickly closed this important deal and can
officially welcome MatrixCare to the ResMed family,” said ResMed CEO
Mick Farrell. “ResMed is the world’s top tech-driven medical device
company, and we are well on our way to being the top provider of
out-of-hospital software. It all fits into our mission of changing
millions of people’s lives, whether it’s by treating and preventing the
advance of chronic disease or helping someone easily navigate
out-of-hospital healthcare settings so they and their loved ones can
live their best life.”
MatrixCare will continue to operate as a standalone business within
ResMed’s SaaS portfolio, with targeted commercial, technical and
operating links to ResMed and Brightree. There will be no immediate
changes to management, locations or business processes. MatrixCare CEO
John Damgaard continues in his current role, reporting to ResMed SaaS
President Raj Sodhi.
The final $750 million purchase price is subject to certain adjustments
as set forth in the Merger Agreement.
About ResMed
ResMed (NYSE: RMD) (ASX: RMD), a world-leading connected health company
with more than 6 million cloud-connected devices for daily remote
patient monitoring, changes lives with every breath. Its award-winning
devices and software solutions help treat and manage sleep apnea,
chronic obstructive pulmonary disease and other respiratory conditions.
Its 6,000-member team strives to improve patients’ quality of life,
reduce the impact of chronic disease and save healthcare costs in more
than 120 countries. ResMed.com
About MatrixCare
Current and multi-time winner of the prestigious Best in KLAS for
Long-Term Care Software award, MatrixCare is the complete solution for
growing organizations that need to successfully manage risk in care
delivery across the long-term post-acute care (LTPAC) spectrum. Trusted
by more than 13,000 facility-based care settings and more than 2,500
home care, home health and hospice organizations, MatrixCare’s solutions
help Accountable Care Organizations, skilled nursing and senior living
providers, life plan communities, and home health organizations to
connect, collaborate and prosper as we migrate to a fee-for-value
healthcare system. In addition to electronic health record components
purpose-built for any LTPAC care-setting, MatrixCare also includes
solutions to systematically increase clinical quality: Enterprise
Analytics, robust Clinical Decision Support and the industry’s first
Care Coordination platform to create a true, person-centric,
e-longitudinal health record and enable LTPAC providers to efficiently
manage the populations under their care. Visit www.matrixcare.com
and www.carecommunity.com
for more information.
Forward-looking statements
Statements contained in this news release that are not historical facts
are "forward-looking" statements as contemplated by the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements – including statements regarding ResMed's projections of
future revenue or earnings, expenses, new product development, new
product launches and new markets for its products and the integration of
acquisitions – are subject to risks and uncertainties that could cause
actual results to materially differ from those projected or implied in
the forward-looking statements. Additional risks and uncertainties are
discussed in ResMed's periodic reports on file with the U.S. Securities
& Exchange Commission. ResMed does not undertake to update its
forward-looking statements.
View source version on businesswire.com:
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ResMed
For media:
Jayme Rubenstein
+1 858.836.6798
news@resmed.com
or
For
investors:
Amy Wakeham
+1 858.836.5000
investorrelations@resmed.com
Source: ResMed