03 Dec ResMed Boosts Connected Health Play With $225M Propeller Health Deal
Xconomy Wisconsin — ResMed has inked a $225 million deal to acquire Propeller Health, in the latest endorsement of Internet-connected devices for healthcare.
The acquisition, which is expected to close by the end of March 2019, continues San Diego-based ResMed’s (NYSE: RMD) “connected healthcare” push that began about five years ago, as Xconomy chronicled last year. The medical device company, with a $16 billion market capitalization, is best known for making continuous positive airway pressure (CPAP) machines that help people manage sleep apnea, chronic obstructive pulmonary disease (COPD), and other respiratory conditions. In recent years it has been investing in software capabilities, including outfitting its sleep apnea devices with wireless connections that send patient data to cloud-based databases, enabling healthcare providers and insurers to track patient compliance, and users to track their sleep patterns.
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