ResMed to buy digital therapeutics firm Propeller Health for $225 mln
Summary
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 entered a definitive agreement to acquire Propeller Health, a digital therapeutics company providing connected health solutions for people living with chronic obstructive pulmonary disease (COPD) and asthma.Propeller’s digital medicine platform consists of small sensors that easily attach to consumers’ inhalers and pair with a mobile app to automatically track medication use and provide personal feedback and insights.“ResMed shares our belief that connected health solutions create vastly better experiences and outcomes for people with chronic respiratory disease,” said David Van Sickle, co-founder and CEO of Propeller.ResMed and Propeller expect to finalize the deal before the end of the third quarter of ResMed’s fiscal year 2019 (March 30, 2019), subject to customary closing conditions, including regulatory approvals.Propeller creates products to more effectively treat chronic respiratory disease and improve clinical outcomes for patients through connectivity, analytics, and companion digital experiences.