ResMed closes $1B Medifox buyout to expand software business into Europe
• None The takeover, ResMed’s first investment in a software-as-a-service business in Europe, gives the company control of a 700-person operation that offers similar solutions to its existing U.S. brands MatrixCare and Brightree. • None Germany-based Medifox supports out-of-hospital providers with care documentation, personnel planning, administration and billing, and has slotted into ResMed’s SaaS business segment. Talking to investors on a conference call in August, ResMed CEO Michael Farrell called Medifox “the leading provider of end-to-end software solutions for home health and for nursing home providers in Germany” and outlined the thinking behind the deal. ResMed picked Germany as the starting point for its global SaaS expansion because its core sleep and respiratory care business is vertically integrated in the country, and because it is a large market in which the government is investing in digital health reimbursement. ResMed is expanding its SaaS business while racing to capture the device sales put in play by the woes of its chief competitor Philips.
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