ResMed (NYSE: RMD, ASX: RMD) announced today that it has acquired Mementor (Leipzig) and its digital insomnia therapy in a bid to strengthen its overall sleep portfolio in Germany.
The deal closed yesterday. ResMed did not disclose financial terms. The maker of CPAPs and other respiratory therapy devices was one of the first medical device companies to make the transition into digital, a major trend in the industry.
Mementor is the developer and owner of the digital insomnia therapy app Somnio. ResMed described Somnio as Germany’s first and only permanently approved digital health application (DiGA) in sleep medicine, eligible for reimbursement in Europe’s largest economy. Somnio is also compliant with the EU’s General Data Protection Regulation.
“Mementor is an ideal fit for ResMed Germany and, more important, millions of people across Germany who want to improve their sleep and overall health,” ResMed Germany President Katrin Pucknat said in a news release.
ResMed will integrate Mementor into its German operations as a separate business segment and will use Mementor’s technology as a platform for further digital health developments. Noah Lorenz, Mementor’s co-founder and CEO, and Katherina Jekerle, previously ResMed Germany’s senior marketing director, will co-lead the business segment.
The plan is that Mementor will be able to leverage ResMed Germany’s broader network to increase adoption of Somnio, which is presently available in Germany via “app on prescription.” ResMed said two randomized controlled trials involving the app showed a sustained improvement in users’ sleep after 2 and 12 months.
“Joining forces with ResMed brings us a big step closer to our vision of helping people get a good and healthy night’s sleep,” Lorenz said. “I am excited to have found a perfect fit in ResMed, with whom we can work together to give more people access to Somnio and develop further digital solutions.”