ResMed completes $1B acquisition of Medifox Dan

ResMed (NYSE:RMD) announced today that it completed its previously announced acquisition of Medifox Dan.

In June, ResMed announced an agreement to acquire Medifox Dan for €958.6 million ($984.5 million). Medifox Dan develops clinical, financial and operational software solutions for out-of-hospital care providers. It offers care documentation, personnel planning, administration and billing, among other things.

When the company announced the acquisition, it said it planned to fund the deal with its existing credit facilities. It expects the acquisition to be accretive to its adjusted diluted earnings per share.

Hildesheim, Germany-based Medifox Dan has more than 700 employees. It now operates under its current brand within ResMed’s software as a service (SaaS) business segment.

Medifox Dan offers solutions similar to those already belonging to the company’s leading U.S. SaaS brands. Those brands include MatrixCare and Brightree.

Res…
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Why are so many medical device companies making big investments in Ireland?

[Image from Ainars Djatlevskis on Unsplash] The foreign direct investment agency for Ireland has some of the biggest names in medtech investing in the country.

Within recent years, a number of major medtech companies celebrated anniversaries. Abbott’s was 70 years, Medtronic’s was 40 and Boston Scientific’s was 25.

That’s how long those companies have operated in Ireland.

Gerard Kilcommins, Medtronic VP of global manufacturing, vascular therapies and implants and country director in Ireland, said in a report earlier this year that its 40-year anniversary represents “an important milestone” in the company’s history.

“Our sites in Ireland have played a significant role in Medtronic’s evolution from medical device manufacturer to a global leader in healthcare technology,” Kilcommins said in July.

Each of those three companies, plus many more big names in medtech, choose Ireland for a broad range of inve…

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ResMed opens manufacturing plant in Singapore

[Image courtesy of Google]ResMed (NYSE: RMD, ASX: RMD) this week announced the grand opening of its new Advanced Manufacturing Center in Singapore’s Tuas area.

The new 270,000-square-foot facility doubles the respiratory care company’s presence in Singapore to serve its key manufacturing hub in Asia Pacific. The facility will employ nearly 1,000 people and has smart dashboards that integrate real-time data to monitor the performance of production lines.

ResMed’s new facility also has the manufacturing capacity and footprint to scale production for connected devices and mask systems. The company plans to use the new facility to produce its latest positive airway pressure (PAP) system, which allows users to monitor their own sleep apnea treatment.

“Singapore’s strategic location and support for business investment, coupled with ResMed’s world-leading devices and digital health offerings, provides the perfect opportunity to expand our manufac…

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ResMed partners with Verily on digital health for sleep disorders

ResMed and Google’s sister company Verily recently launched a digital health joint venture called Primasun.

The companies launched the joint venture on Nov. 13 during HLTH 2022 in Las Vegas. They said Primasun will combine advanced healthcare technology and research into one comprehensive digital health platform. It will work with employers and healthcare providers to identify populations at risk of sleep disorders. After that, it will connect patients to certified sleep physicians.

“Sleep is the foundation of physical and mental health, and at Primasun, we believe there’s an opportunity to build a more efficient, equitable healthcare solution that helps patients clinically improve their sleep, and in turn, their quality of life,” said Primasun CEO Jonathon Lobbins. Most recently, Lobbins was VP of strategy and business development at Siemens Healthineers.

Initially, Primasun is offering a product that connects patients with certi…

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ResMed powers through supply chain challenges in Q1

ResMed (NYSE: RMD, ASX: RMD) reported first-quarter results that beat The Street on revenue but missed by a penny on earnings per share.

CEO Mick Farrell yesterday evening expressed confidence that ResMed’s suppliers will enable the maker of sleep therapy tech such as CPAPs to steadily increase production through the fiscal year. Farrell got to personally meet with many critical suppliers during a company event in Sydney earlier this year, impressing on them the important role that ResMed plays in improving lives.

In addition to the extra supplier outreach, ResMed responded to the global semiconductor supply shortage by launching card-to-cloud (C2C) versions of its AirSense 10 and AirCurve 10 products. The C2C products do not incorporate a communications model. Meanwhile, ResMed continued to launch its AirSense 11, which includes new features such as a touch screen, algorithms for patients new to therapy, and digital enhancements and over-the-air update c…

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How Medtronic, Abbott, Resmed see healthcare improving through ecosystems

Medtronic’s Geoff Martha (left), Abbott’s Lisa Earnhardt (middle) and ResMed’s Mick Farrell (right). The trio discussed the medtech ecosystem at AdvaMed’s The MedTech Conference in Boston.

According to McKinsey & Company Senior Partner Rajesh Parekh, “ecosystem” is a word used plenty in the tech world. Now it’s coming into the medtech space.

So, what is an ecosystem? How can medtech companies take advantage of one to provide better care and improved patient outcomes? How can they do so with speed in an ever-changing environment? Three major medtech leaders joined Parekh at AdvaMed’s The MedTech Conference in Boston to try and explain that.

Medtronic Chair and CEO Geoff Martha, Abbott EVP of Medical Devices Lisa Earnhardt and ResMed CEO Mick Farrell offered their views on ecosystems in the space.

What is an ecosystem in healthcare?

Earnhardt said an ecosystem brings a variety of stakeholders together to …

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ResMed expects steady growth over the next year

ResMed (NYSE: RMD, ASX: RMD) today reported fourth-quarter results that beat the consensus forecast on Wall Street amid continued adoption of its next-gen AirSense 11 CPAP.

CEO Mick Farrell said in a news release that ResMed launched the fully cloud-connectable AirSense 11 into several new European countries. The AirSense 11 is also selling well in the U.S., the company said.

Farrell also detailed ResMed’s strategy to deal with the semiconductor shortage facing ResMed and many other medtech companies:

“We also introduced our newest device to meet the needs of an industry crisis in PAP supply, the AirSense 10 Card-to-Cloud solution, during the quarter. The card-to-cloud device was launched into the U.S. and many other markets and is designed to work without an embedded communications module. This redesign allowed us to increase deliveries to customers and ultimately to get many more patients onto life-saving sleep apnea and respiratory care th…

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ResMed acquires Mementor and its digital health app for insomnia

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 …

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ResMed names Lucile Blaise as new Sleep & Respiratory Care leader

Lucile Blaise will become president of ResMed’s Sleep & Respiratory Care business on July 1. [Photo courtesy of ResMed]Lucile Blaise will be the new president of ResMed’s Sleep & Respiratory Care business starting July 1, ResMed (NYSE: RMD) said today.

She replaces Jim Hollingshead, who became president and CEO of Insulet (Nasdaq:PODD) on June 1. ResMed President and COO Rob Douglas is serving as interim president of the Sleep & Respiratory Care during the transition.

Blaise is ResMed’s VP of Sleep & Respiratory Care for Western Europe. She joined San Diego-based ResMed in 2006 and has more than 25 years of experience in medical device sales, marketing, finance, and business development, the company said in a news release.

Get the full story at our sister site, Medical Design & Outsourcing.

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ResMed names Lucile Blaise as new Sleep & Respiratory Care leader

Lucile Blaise will become president of ResMed’s Sleep & Respiratory Care business on July 1. [Photo courtesy of ResMed]

Lucile Blaise will be the new president of ResMed’s Sleep & Respiratory Care business starting July 1, ResMed (NYSE: RMD) said today.

She replaces Jim Hollingshead, who became president and CEO of Insulet (Nasdaq:PODD) on June 1. ResMed President and COO Rob Douglas is serving as interim president of the Sleep & Respiratory Care during the transition.

Blaise is ResMed’s VP of Sleep & Respiratory Care for Western Europe. She joined San Diego-based ResMed in 2006 and has more than 25 years of experience in medical device sales, marketing, finance, and business development, the company said in a news release.

Blaise serves on the MedTech Europe board and was elected president of French medtech association Snitem this month.

ResMed CEO Mick Farrell …

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ResMed to acquire out-of-hospital software developer Medifox Dan for $1B

ResMed (NYSE:RMD) announced today that it agreed to acquire German software company Medifox Dan in a deal worth $1 billion.

Hildesheim, Germany-based Medifox Dan develops clinical, financial and operational software solutions for out-of-hospital care providers. Its offerings include care documentation, personnel planning, administration, billing and more.

According to a news release, Medifox Dan’s solutions are similar to those belonging to ResMed’s leading U.S. SaaS brands, MatrixCare and Brightree.

Under the terms of the agreement, ResMed will acquire Medifox Dan from Hg, a software and services investor, for approximately $1.0 billion (€950 million), which ResMed expects to fund with its existing credit facilities.

ResMed expects the acquisition of the company, which recorded pro forma net revenue of approximately $83 million in calendar 2021, to be accretive to its adjusted diluted earnings per share after the close, which is earma…

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ResMed finds a solution to semiconductor shortage, as well as some humor in it

ResMed (NYSE:RMD) can’t go back in time to solve its semiconductor shortage, but it’s found a solution that might be the next best thing — for now.

President and COO Rob Douglas (serving as interim president of Sleep and Respiratory Care at ResMed after Jim Hollingshead left to be CEO of Insulet) offered an update on the San Diego-based company’s supply chain issues as it tries to capture more of the market while Philips works through its recall.

“We’ve been managing a higher than normal rate of decommits coupled with a competitor recall that sucked all the inventory out of our systems and out of all of our customers’ systems as well,” Douglas said Wednesday at the William Blair Growth Stock Conference. “And so there is a huge shortage of devices. … We joke that the head of our supply chain is actually our chief revenue officer because what that person builds, we sell (in terms of devices) as soon as we can.”

Get the full story at our sister si…

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