NEWS

ResMed's $225 million acquisition of Propeller Health

Thursday, Jan 10, 2019

ResMed is a cloud-connected medical device and pre-hospital software-as-a-service (SaaS) business The solution leader, the company announced today that it has completed the acquisition of Propeller Health, a digital treatment company that provides connected health solutions for patients with chronic obstructive pulmonary disease (COPD) and asthma.

Propeller will continue to operate as an independent company in its offices in Madison and San Francisco, Wisconsin, working with leading pharmaceutical industry partners and other healthcare organizations to provide digital therapy and actionable for inhaler users. Insights to help them improve medication compliance, increase asymptomatic days, and reduce the number of emergency visits.

ResMed CEO Mick Farrell said: "I am pleased to welcome Propeller to the ResMed family, which is a number of health innovators and companies with outstanding performance. Propeller's digital solutions and partnerships strengthen ResMed's Larger kits that can treat millions of patients with various stages of COPD and other chronic conditions, all aiming at improving the quality of life of patients while reducing the impact of disease, hospitalization and overall health care costs."

Propeller will operate within ResMed's line of respiratory care products; Propeller CEO David Van Sickle retains his position and reports to Richie McHale, President of ResMed Respiratory Care.

According to ResMed's first report on December 3, 2018, the addition of the Propeller business is expected to dilute the quarterly non-GAAP earnings per share for ResMed's 2019 fiscal year, ranging from $0.01 to $0.02.

 

Source: businesswire.com

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